4th Quarter 2009 Sales Results

The information presented below is complied from data sourced via the Gillespie County Multiple Listing Service. The tracking historical sales data is grouped into categories that include: "Residential", "Rural Subdivision Lots/Tracts", Acreage, Farm/Ranch" and "City Lots". These categories are further defined by "area" (e.g. in town, out-of-town/county).



While it can be difficult to portrait a true "apples to apples" picture of current real estate sales, the numbers speak for themselves as categorized. A lot can be read "between the lines" when discussing these figures, if you would like more detailed information on these summary comparisons, feel free to contact me at your convenience.

4th Quarter-2009

Residential-City (Fredericksburg, TX) - The total number of homes sold within the 4th quarter of 2009 actually increased by 65% from sales reported within the 4th quarter of 2008 (20 in '08 and 33 in '09). The average price of a sold property declined by 9.78% ($215,210 in '08 vs. $197167 in '09) and the average number of days-on-market (DOM) has decreased an average of 16.1% (236 by end of 4th, 2008 vs. the current 198 days). The total dollar volume of homes sold actually increased by 48.86%. Notably, the average list price to sale price ratio (LP/SP) has remained statistically unchanged from 94% in 2008 to the current 94.5%.

Overall number of units sold decreased from the 3rd quarter of this year to the 4th quarter of 2009 by 17.5% (40 units were sold in 3rd qtr. ’09 vs. 33 sold in the 4th qtr. of 2009).

Year-to-date (vs. YTD, 2008), total units sold has increased by 8.2%, the average price of sold units has decreased by 9.2%, the average DOM has increased by 22%, the total dollar volume sold has decreased by 1.75% and the average LP/SP ratio has remain statistically unchanged (94% in ’08 to 93% currently).

Residential-County (Gillespie County Only) - The total number of homes (w/acreage) sold within the 4th quarter of 2009 decreased by 8.3% from the sales reported within the 4th quarter of 2008 (24 in '08 vs. 22 in '09). The average price of a sold property declined 13% ($319,079 in '08 vs. $277,757 in '09) and the average number of DOM has increased 5% (177 in '08 to 186 in '09). The total dollar volume of homes sold has decreased 20%. Notably, the average list price to sale price ratio (LP/SP) has increased from 81% in 2008 to the current 90%.

Year-to-date (vs. YTD, 2008), total units sold have decreased by 19.5%, the average price of sold units has decreased by 21.3%, the average DOM has held steady at an average of 200 days, the total dollar volume sold has decreased by 36% and the average LP/SP ratio has remained statistically unchanged.

Lots-City (Fredericksburg, TX) - The total number of lots sold within the 4th quarter of 2009 remained unchanged from the sales reported within the 4th quarter of 2008 (5 in '08 vs. 5 in '09). The average price of a sold lot nearly doubled ($44,800 in '08 vs. $109,400 in '09) and the average DOM has decreased 2.9% (588 in '08 vs. 571 in '09). The total dollar volume of lots sold has increased by 144%.


Year-to-date (vs. YTD, 2008), total units sold have decreased by 39%, the average price of sold units has increased by 3.25%, the average DOM has increased by 72%, the total dollar volume sold has decreased by over 37% from YTD ’08 to YTD ’09.

Rural Subdivision Lots/Tracts - The total number of acreage lots sold within the 4th quarter of 2009 more than doubled (4 in '08 vs. 9 in '09). The average price of a sold acreage lot decreased by 22.7% ($138,164 in '08 vs. $106,778 in '09) and the average DOM increased by almost 70%. The total dollar volume of acreage lots sold increased by 73%.

Year-to-date (vs. YTD, 2008), total units sold have decreased by 31.9%, the average price of sold units has decreased by 21.5%, the average DOM has increased by 21.75%, the total dollar volume sold has decreased by 46.6%.

Acreage, Farm/Ranch (All MLS Counties) - The total number of properties categorized as Farm/Ranch sold within the 4th quarter of 2009 declined 28% (25 in '08 vs. 18 in '09). Average prices and DOM tend to be less significant in this category as the properties offered and sold vary tremendously. Most notably, total sales volume has decreased by 32.6% from within the 4th quarter 2008 vs. 4th quarter 2009.

Year-to-date (vs. YTD, 2008) the total number of units sold has decreased by 13.2% and the total volume sold has decreased by 43%

You will note that overall sales volume has continued to fall from our peak in 2006 to 2007, 2008 and through 2009. The average sales prices have fallen steadily throughout the same period and the average number of days on market continues to increase. While federal tax incentives and records low interest rates have provided some market support, this support is evident at the only at the lower end of the ranges of the categories noted above. We are relatively "healthy" in homes priced under $250K while the higher priced properties fight to resist the increasing downward pressure on prices and linger for longer periods of time.