July housing report: Median prices up in Burnet and Llano counties, closed sales down
STAFF WRITER JARED FIELDS
MARBLE FALLS — The July housing report shows increased median prices in Burnet and Llano counties, according to the Highland Lakes Association of REALTORS.
The Burnet County median home price in July was up 14.4 percent to $268,750 compared to July 2017. In Llano County, the median home price rose 7 percent to $338,250.
The number of closed sales, however, declined in both counties: 18.7 percent in Burnet County and 25.3 percent in Llano County.
“The trend for not as many closes is because inventory is low,” said Ron Petrick, president of the Highland Lakes Association of REALTORS. “Closes are down, too, because we’re getting close to the end of summer.”
Patrick said the Highland Lakes Multiple Listing Service currently has 724 single-family homes listed on the market ranging from a price of $50,000 to one for $6 million in Horseshoe Bay.
Year-to-date, the number of single-family and site-built homes closed is 614.
Horseshoe Bay leads the market in the amount of real estate activity, including in July with 39 closed sales. The next closest on the list were Marble Falls and Kingsland, each with 12. The July median house price in Horseshoe Bay was $343,000, down 28.9 percent compared to July 2017.
Housing inventory remains relatively low at 6.7 months for Burnet County and 9.6 months in Llano County. Those numbers are up slightly from July 2017.
Looking ahead, Petrick said he believe prices and inventory will remain steady.
“I think (the market) will slow down some. Prices will stay steady now and to the end of the year,” he said. “I think inventory will probably be steady and won’t go up or down any.”