COMFORT, TEXAS REAL ESTATE SALES DOWN SO FAR IN 2008
July 15th, 2008 categories: About the Local Market, Assessing the Local Market, Real Estate Stats & Issues
The town of Comfort is feeling the economic pinch in 2008 according to data compiled from the San Antonio Multiple Listing Service. The following data is the number of (Non-Commercial) Sales from January to June in 2008 in the Town of Comfort as compared to the same time period in 2007.
The number of sales is down (33 compared to 48) with Lots/Acreage and Farm/Ranch absorbing the brunt of the decrease. That likely could mean fewer new homes and subdivisions being constructed/developed … which makes sense given the carryover of fuel costs increases into every area of the construction field. June was the first month of 2008 that had more sales than 2007.
Prices likely will continue to decrease over time … However, unless buyers are paying cash, interest rate increases can offset the overall affordability of homes even with price changes. See articles entitled, “Would You Like Your Happy Meal Now or Later? Waiting out the Market Likely is a Losing Game for Homeowners!”
Properties that have been on the market for 3 or more months certainly are prime for price reductions and below list price offers. If we can be of assistance in terms of assessing a current property, please call us at 830-995-2511.
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