Central Texas Housing Market Dips Slightly In November

The monthly housing market report for five counties including Caldwell, Comal, Gonzales, Guadalupe, and Hays  has been released and show a slight decrease

The Four Rivers Association of REALTORS® has recently released their market report for November 2016 and San Marcos’s market is staying relatively steady, despite a slight dip.  The number of closed homes decreased, as compared to this time last year, but the market still saw 17 listings closed in the month.

Home prices decreased slightly, as well. The median home price was down by 11%, as compared to November 2015, to $221000.

Inventory levels in New Braunfels, San Marcos, and Seguin remained well-fixed within seller’s market territory. In November 2016, the available housing inventory* in San Marcos decreased .1 months to 3.5 months. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes in San Marcos, spent an average of 112 days on the market during the same time frame, 40 days longer than in November 2015.  The days on market still remain at a respectable level, though.

The number of active listings boosted slightly with 135 active listings in November 2016.  With new housing projects coming online in San Marcos, we anticipate seeing this number stay on the positive side.

November 2016 Statistics – San Marcos – As compared to November 2015 (YOY)

·        17 – Homes sold, 19.1 percent decrease YOY

·        $221000 – Median price, 11 percent decrease YOY

·        3.5 – Monthly housing inventory, .1 months less YOY

·        112 – Average number of days homes spent on the market, 40 days more YOY

·        135 – Active listings, 11.6% more YOY

With a growing economy, booming population and high quality of life, Texas is a great place to live, work and do business. As such, the demand for Texas real estate remains strong and enduring. Texas REALTORS® continue to work daily to protect the rights of private-property owners, keep homeownership affordable, and promote public policies that benefit homeowners. 

* The inventory of homes for a market can be measured in months, which is defined as the number of active listings divided by the average sales per month of the prior 12 months.

The Four Rivers Association of REALTORS® is a 501(c)6 non-profit membership organization established in 1960. With over 1450 members, the association supports REALTORS® and Affiliates from across five counties including Caldwell, Comal, Gonzales, Guadalupe, and Hays. The association is the owner of the Central Texas Multiple Listing Service (MLS), a for-profit MLS system that covers the area between Austin and San Antonio.