The chart below shows the history of the housing market in Fredericksburg Texas and includes all home sold in the City Limits. Based on information from the Central Hill Country Board of REALTORS® MLS for the period 2006 through dates indicated on charts.
Fredericksburg TX Real Estate Market Report Average home price
For the first 3 quarters of their year we are way ahead of last year in total dollars sold as well as the total number of homes that have sold.
So far for this year , Jan through Sept we have sold $70,663,231 and in 2017 for the same period we had sold $64,287,460 , so that is about a 10% increase in the total dollars sold for in town homes this year compared to last. The total number of homes sold this year is 194 compared to 176 homes sold in 2017 for the 1st 3 quarters, so again that is a bout a 10%
increase in the number of homes sold as well.
the numbers certain say we have a lot of homes moving this year. But when we get to the prices we have a little different story. The average home price for Fredericksburg in 2017 ended at $386,098 and right now for the first 3 Quarters of this year the average home price this year is at $364,243. so down about 4.7% and that is also reflected in the average price per foot with 2017’s average ending at $209.92 per ft and this year is currently at $206.14 our foot. So we have seen a little pull back in the prices but as I mentioned in at my mid year report, I still think by the years end we will likely be just about even with last year.
Second Home and Short term rentals versus owner occupied homes
Often I am asked how many properties in Fredericksburg are not owner occupied, such as B&B’s or 2nd homes. We do not have a real good way to tract all non owner occupied homes but about 5 years ago I got with the chief appraiser and Mr Fair provided how many homes have homestead exemptions. As you know the only reason you would not put a homestead exemption, and save on taxes, would be is the house is not you primary residence. Five years ago the number of homesteaded properties was at 50.8% and non homestead properties was at 49.2% so almost half of the homes in the county where likely not a primary residence !
So I just got those numbers again and for 2018 and I was surprised that the number of owner occupied home seems to have gone up. Currently for the county the number of homes with a homestead exemption is at 59.2 % so the number of owner occupied homes is up about 8.4% over the past 5 years! And even more surprising is the majority of owner occupied homes are in the city limits! In the city 63.2% of homes have a homestead exemption and out side the city homestead properties are at 57.8% . So even with all the new B&B short term rentals that we are seeing , owner occupancy is really up !
There are 12,759 residences in the county and 7,386 have homestead exemptions. 57.8%
In the city there are 4,375 residences and 2,769 have homestead exemptions. 63.2%
Total 17,134 residences and 10,155 have Homestead Exemptions 59.2%
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