2017 Year End Market Report
Nationally, the median home price is now $246,800. In Texas, the housing market held steady as sales rose 4%, maintaining the current four-year average. The median sale price increased 5.8%, to an annual average of $222,106. Texas housing affordability remained favorable compared to other states but, continued the steady decline that began in 2013. Rapid price increases, fueled by shortages of homes priced under $300,000, has challenged Texas buyers. In 2018, single-family housing sales are projected to reach 6.6% growth before moderating in 2019.
Here in Fredericksburg, the number of in-town home sales in 2017 rose 6%. The median home price increased 13% from $297,000 to $342,675, and the price per square foot rose 7.7% from $167.47 to $181.50. Days on Market stayed almost the same as 2016, at 121 vs 119.
In 2017, there were 96 Homes on Acreage that sold. The Median selling price increased 12% over 2016 from $424,500 to $484,000. With the median per square foot price increasing 15% from 177.32 to $209.50.