Hood County Recent Sales and Market Activity | Columnists
KNIEPER REAL ESTATE
Pam Knieper, Broker/Owner of Knieper Real Estate, is and has been the premier producer for over 15 years in Hood County and running. She is known as the waterfront expert and real estate authority.
Every now and then we like to give you the hard facts. The statistics will hopefully give you a better understanding of the current market, with just a few comments for clarity. So, let’s take a look at recent residential sales in Hood County.
The median price of a home in Hood County during the month of May was $397,500, an increase of 22.7% from May 2021.
The number of active listings in May of this year was 25.7% higher than in May of last year.
Inventory month was 1.7 compared to just 1.3 in May 2021.
Closed sales for Hood County for May of this year are down 2.3% from the same period last year.
The increase in inventories reflects the slight slowdown in sales, which could be attributed to anything from higher interest rates, gasoline prices or buyer fatigue. It could also be that the rise in the mid-price range has driven some first-time or discount buyers out of the market. But don’t worry, demand for housing is still strong, especially waterfront homes. Lakeside and waterfront vendors…it’s time to be in the market because nothing sells the waterfront better than boat traffic!
Now let’s look at the price breakdown: sales below $100,000 accounted for less than 1% of the total market share in May, largely due to the lack of inventory in this price range.
$100,000 – $200,000 reached 8.9%.
$200,000-$300,000 contributed 18.9% of total sales volume.
$300,000-$400,000 claimed the highest percentage at 22.6%, which matches the median price range of $397,500 shown earlier in this report.
$400,000 to $500,000 ended May at 21%, while $500,000 to $750,000 did well at 20.2% of total volume.
Then we see a steep drop to 3.2% for homes selling between $750,000 and $1 million and homes over $1 million hit 4.9%.
TO DATE, 610 residential properties (homes) have been sold in Hood County (this number does not reflect the number of properties sold outside of MLS).
Of these, 23% were new construction, 11% were lakefront properties. 55% of the total number of homes sold this year were between 1,000 and 2,000 square feet, 32% between 2,000 and 3,000 square feet, and the most popular number of bedrooms was three (3) at 60% (however 14% of 3-bedroom homes had an office or office that could be used as a 4th bedroom), followed by 4 bedrooms at 26%.
For a preview of what’s happening in your neighborhood, check out our announcement on this same page. Obviously, there isn’t enough room in our ad to list every development in Hood County, so if we missed yours, give us a call. We are happy to make a custom report just for you. As always, you are welcome to contact us at 817-219-0456 with questions and comments or visit us online at www.WeSellGranbury.com.
All statistics reported in the article were obtained from the North Texas Real Estate Information System (NTREIS MLS). This report should be considered accurate but not guaranteed.
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