Land sales in Gillespie County down big in 2009

Posted on April 27, 2009
Filed Under Fredericksburg Texas Lots and Land, Fredericksburg Texas Real Estate Market, Fredericksburg Texas Real Estate News |

By Greg Oehler

Although currently we are experiencing more activity, this will give you an idea of what has occurred with land sales this Year-to-Date (as of 4/18/2009) vs. last year, same period.  Homes were affected as well, but not to the same degree.

Probably the two most important and reliable numbers in this MLS data sort are the Total Number of Land Sales and the Total Amount of Land Sales which I highlighted in Blue.  Some of the other numbers are deceiving for various reasons, such as the Average Price per sale, etc.  For instance, it went up not because overall land prices increased, but because there were so few Single Family residential lot sales (3) in 2009 compared to 2008 (20) and most land sales were small acreage tracts instead.  Acreage tracts tend to be larger and more expensive.

15 Land sales 1 1 2009 to 4 18 2009

(Land in Gillespie County, including city lots)

Low

High

Average

Median

Total

List Price

$45,500

$2,340,500

$311,528

$136,500

$4,672,915

Selling Price

$45,500

$2,340,500

$293,178

$120,000

$4,397,675

List/Sold(%)

75.76%

102.00%

92.12%

92.05%

–

Days on Market

52

781

350

254

–

59 Land sales 1 1 2008 to 4 18 2008

(Land in Gillespie County, including city lots)

Low

High

Average

Median

Total

List Price

$34,900

$2,279,600

$244,666

$99,500

$14,435,290

Selling Price

$29,000

$2,220,664

$227,795

$89,000

$13,439,919

List/Sold(%)

70.09%

105.50%

93.96%

95.12%

–

Days on Market

2

917

320

297

–

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