Kerrville Real Estate ReportRotary Club of Kerrville
October 17, 2012
October 17, 2012
Overview
• The Commercial Market• The Residential Market
• History the Past 10 Years• Where We Are Now• Outlook for the Future
October 17, 2012
Commercial Market
• Very Stable Locally• Prices and Income Streams are Low• 30% / 70% Commercial to Residential• Outlook is for More of the Same
October 17, 2012
Residential Market History
October 17, 2012
Residential Market History
Note: Dollar Figures in Millions
October 17, 2012
Residential Market
• 713 Residential Listings in Kerr County• 557 Residential Listings in Kerrville
• 6.5 Months is Considered Stable Inventory• Kerrville Has ~8.5 Month Inventory
• Market Value of Kerr County Real Estate: ~$6 Billion
• Market Value of Kerrville Real Estate: ~$2 Billion
• Have Hit the Bottom and Improved
October 17, 2012
How We Compare to Our Neighbors
78028 131.48 78074 100% 78024 41.3% 78024 72.9% 78074 64% 78013 18.5% 78024 $43,500
78025 83.66 78024 87.8% 78028 24.2% 78631 65.1% 78631 63.7% 78055 16.1% 78624 $37,874
78003 35.46 78055 86.7% 78055 23.5% 78624 65.1% 78624 59.7% 78028 14.9% 78013 $35,625
78010 33.23 78631 82% 78624 22.8% 78074 64% 78010 55.8% 78631 14.8% 78631 $35,521
78624 24.53 78028 81.7% 78025 20.8% 78013 63.6% 78013 54.7% 78010 13.3% 78010 $35,121
78074 20.6 78025 81.5% 78003 19.6% 78003 63.4% 78025 52.3% 78003 12.3% 78028 $34,374
78013 19.86 78003 81.2% 78010 18.5% 78025 63.2% 78024 51.7% 78025 11.4% 78055 $33,846
78055 8.05 78624 79.9% 78631 17% 78028 61.5% 78028 50.9% 78624 9.8% 78025 $33,491
78631 6.13 78010 79.3% 78013 16.9% 78010 59.7% 78055 49.1% 78024 8.2% 78003 $33,063
78024 4.18 78013 71.3% 78055 59% 78003 46% 78074 $17,361
Population Density High School + Bachelors + Married Here 5+ yrs
Source: ZipSkinny
October 17, 2012
How We Compare to Our Neighbors
78028 131.48 78074 100% 78024 41.3% 78024 72.9% 78074 64% 78013 18.5% 78024 $43,500
78025 83.66 78024 87.8% 78028 24.2% 78631 65.1% 78631 63.7% 78055 16.1% 78624 $37,874
78003 35.46 78055 86.7% 78055 23.5% 78624 65.1% 78624 59.7% 78028 14.9% 78013 $35,625
78010 33.23 78631 82% 78624 22.8% 78074 64% 78010 55.8% 78631 14.8% 78631 $35,521
78624 24.53 78028 81.7% 78025 20.8% 78013 63.6% 78013 54.7% 78010 13.3% 78010 $35,121
78074 20.6 78025 81.5% 78003 19.6% 78003 63.4% 78025 52.3% 78003 12.3% 78028 $34,374
78013 19.86 78003 81.2% 78010 18.5% 78025 63.2% 78024 51.7% 78025 11.4% 78055 $33,846
78055 8.05 78624 79.9% 78631 17% 78028 61.5% 78028 50.9% 78624 9.8% 78025 $33,491
78631 6.13 78010 79.3% 78013 16.9% 78010 59.7% 78055 49.1% 78024 8.2% 78003 $33,063
78024 4.18 78013 71.3% 78055 59% 78003 46% 78074 $17,361
Poverty Median IncomeMarried Here 5+ yrs
Source: ZipSkinny
October 17, 2012
Unemployment Rates
Aug 2011 Aug 2012
Kerr County 6.7 5.9
Kendall County 6.6 5.8
Gillespie County 4.9 4.3
Texas 8.2 7
US 9.1 8.1
Source: Texas Workforce Commission and Bureau of Labor Statistics
October 17, 2012
To Ease Real Estate Market:
• Set Tax Policy so Employers Will Start Hiring
• Foreclosures Overhanging the Market Need to be Cleared Out
• Regulators Need to Ease Up on Dodd – Frank Regulations
• We Need to Feel Good About Our Future
October 17, 2012
Questions ?
October 17, 2012
Closing and Thank You