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The Tallest Realtor in Town

Hill Country and Highland Lakes Real Estate Blog by Jeff Spears, 6 ' 7" Tall.
Lots or Homes Selling Better?

Hopefully you have found the Highland Lakes MLS Market Stats posted on my homepage helpful. 

We have seen an interesting trend since the market decline began in late 2007.  Homes are selling remarkably better than lots or land.  When the market was strong, the number of residential lots was very close to the number of homes sold.  This was true for waterfront lots as well.

There are likely many reasons for this trend including difficulty getting financing for raw land.  The Ranch and Acreage sector has been hit hard in the number of sales decline as well.  There are far fewer developers and individuals active in the buying, building, and selling trade.  Historically land holds value well and prices have not decreased nearly as much as those for homes.

The good news for existing home sellers is their competition with new homes is greatly decreased.  Lots and acreage are likely to recover slowly just as the overall economic market improves slowly.

Posted: Friday, January 22, 2010 4:03 PM by Jeff Spears

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