The Year-End 2019 Market Stats From South Central Texas
by Chip Bubela
on Monday, January 13th, 2020 at 3:53pm.
As you may know, the last Thursday of every month, our team hosts a real estate radio show on KVLG/KBUK 104.9. As a part of this segment, we share the latest numbers from the marketplace encompassing La Grange, Schulenburg, Flatonia, Hallettsville, Columbus, and Weimar. Today I have the 2019 year-end numbers from this area to share with you.
Homes sold: 50 Absorption rate (average number of homes sold per month): 4.25 Inventory: 3.84 months Average sale price: $186,854
Homes sold: 21 Absorption rate: 2 Inventory: 5.71 months Average sale price: $145,716
Homes sold: 17 Absorption rate: 1.5 Inventory: 3.53 months Average sale price: $116,228
Homes sold: 19 Absorption rate: 1.5 Inventory: 3.79 months Average sale price: $175,257
Homes sold: 36 Absorption rate: 3 Inventory: 4.67 months Average sale price: $208,398
Homes sold: 22 Absorption rate: 2 Inventory: 4.36 months Average sale price: $125,000
These are just the in-town stats, but if you need to make a move quickly, knowing these numbers tells you how long it would take to sell and how to price your home. Any market with an inventory level that’s less than six months is considered a seller’s market. At two or three months, you can generally price your home about 10% above the market and still sell quickly. If the inventory is over six months, consider pricing your home 5% to 10% below the market.
If you're a buyer, these numbers can help you negotiate. When inventory is at two or three months, there’s obviously not much room for you to negotiate. At six months, however, it’s more of an even market. Anything over that means you have more negotiating power.
If you have questions about these numbers or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d be happy to help you. Also, don’t forget to tune into our radio show!