Blue Ridge, TX Real Estate: 2015 Analysis of the Single-Family Residential Housing Market
The 2015 real estate market in Blue Ridge, TX displayed remarkable growth and diversity, making it an exciting year for both buyers and sellers. With 34 homes sold, the market showed higher activity than in previous years.
From entry-level properties to premium luxury homes, the market offered something for everyone. With economic factors favoring affordability and transaction efficiency, 2015 became a standout year in Blue Ridge, TX‘s real estate history.
Key Takeaways and Trends from Blue Ridge’s 2015 Real Estate Market
Pricing Range: The market featured a broad price spectrum, from accessible entry-level homes to a record-breaking luxury property, giving potential buyers extensive options.
Market Efficiency: Quicker average DOM and high buyer urgency for desirable properties highlighted an active and efficient market, balanced by ongoing negotiations for high-end inventory.
Unique Outliers: The standout $699,000 luxury property and the diverse array of smaller, older homes showcased the flexibility of Buba’s market in meeting various buyer needs.
Total Homes Closed
A total of 34 residential single-family homes were closed during 2015. This marked a significant jump from the 22 homes sold in 2014, reflecting growing demand and an active market that catered to a variety of buyers.
Property Pricing Insights
The 2015 market showcased a wide range of property prices, offering affordability and opportunities for high-end investments:
- Minimum Price: $21,000
- Maximum Price: $699,000
- Average Price: $200,022
- Median Price: $142,100
The affordability at the lower range allowed access for first-time homebuyers, while the highest price signaled robust activity in the luxury segment.
Property Size and Features
Bedrooms & Bathrooms
Homes in 2015 were designed to cater to varying household needs:
- Bedrooms: Ranged from 2 to 4, with the majority averaging 3 bedrooms.
- Bathrooms: Offered between 1 to 4 baths, meeting both basic and premium buyer expectations.
Square Footage
Homes ranged in size to provide options for both small families and luxury buyers:
- Minimum Size: 780 sq. ft., appealing to those seeking compact living spaces.
- Maximum Size: 4,500 sq. ft., catering to premium buyers looking for expansive homes.
- Average Size: 1,943 sq. ft., slightly larger than in 2014.
- Median Size: 1,663 sq. ft., offering consistency for standard family preferences.
Lot Size
The lot sizes provided flexibility for buyers seeking different levels of privacy and land use:
- Minimum Lot Size: 0.230 acres.
- Maximum Lot Size: 19.500 acres.
- Average Lot Size: 4.445 acres.
Market Dynamics
Days on Market (DOM)
Homes in 2015 saw quicker transactions compared to 2014:
- Minimum Time: Just 2 days!
- Maximum Time: Extended to 463 days for unique or premium properties.
- Average Time: 65 days, an improvement over the previous year’s 76 days.
Close Price Ratios
- ClsPr/LstPr Ratio: Homes closed at 95.11% of their list price, slightly lower than in 2014.
- ClsPr/OLP Ratio: At 93.09%, this decline indicates more price adjustments for homes over long listing periods.
Price Per Square Foot
The $92.06 per square foot average showed a slight decrease from 2014, reflecting balancing trends in market value.
Insights into the Most Expensive Blue Ridge, TX Property Sold in 2015
The most expensive property sold in 2015 set a benchmark for luxury living in Blue Ridge, Texas.
Highlights of the Property:
- Price: $699,000
- Bedrooms: 4
- Bathrooms: 4 (3 full, 1 half)
- Square Footage: 4,500 sq. ft.
- Price per SqFt: $155.33
- Lot Size: 10.000 acres
- DOM: 8 days
- ClsPr/LstPr Ratio: 103.57%
- ClsPr/OLP Ratio: 103.57%
- Year Built: 2008
This property combined spacious living, modern construction, and an enviable lot size, selling above the original asking price in just 8 days.
Economic context
Average Electricity Costs in Dallas-Fort Worth in 2015
The average electricity cost fell to $0.12/kWh, providing slight relief to homeowners and increasing interest in energy-efficient properties.
Texas Average Gas Prices in 2015
Gas prices plummeted to $2.17 per gallon, making longer commutes more manageable, thus encouraging demand for suburban and rural properties in the market.
Average 30-Year Fixed Mortgage Rate in 2015
Mortgage rates declined to 3.99%, boosting affordability and helping facilitate higher sales volume.
Curious about today’s mortgage rates and the home you can comfortably afford?
Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.
Summary of Differences Between 2014 and 2015 Real Estate Data for Blue Ridge, TX
The 2015 real estate market in Blue Ridge, Texas saw significant changes from 2014, characterized by higher activity, more affordability, and expanding property options. Below are the key differences:
Property Pricing Insights
- Minimum Price: Dropped to $21,000 in 2015 (from $44,000 in 2014), offering more affordable opportunities for buyers.
- Maximum Price: Surged to $699,000 in 2015 (from $425,000), demonstrating heightened luxury market activity.
- Average Price: Grew to $200,022 (from $179,811), signaling broader price appreciation.
- Median Price: Lowered slightly to $142,100 (from $148,500), indicating stronger sales in more affordable price brackets.
Property Features
-
Bedrooms:
- Ranged from 2 to 4 bedrooms in both years but included properties with smaller footprints in 2015.
-
Bathrooms: Both years offered up to 4 baths, remaining consistent in premium property features.
-
Square Footage:
- Minimum Size: Shrunk to 780 sq. ft. in 2015 (from 1,025 sq. ft. in 2014), signaling an increase in compact property sales.
- Maximum Size: Expanded to 4,500 sq. ft. (from 3,312 sq. ft.), reflecting greater luxury options.
- Average Size: Increased to 1,943 sq. ft. (from 1,722 sq. ft.), appealing to families and larger households.
- Median Size: Slightly up at 1,663 sq. ft. (from 1,643 sq. ft.), showing consistency in typical home sizes.
Lot Size Area
- Minimum Lot Size: Reduced marginally to 0.230 acres (from 0.240 acres), reflecting smaller parcels for entry-level homes.
- Maximum Lot Size: Declined to 19.500 acres (from 28.000 acres), limiting options for buyers seeking very large properties.
- Average Lot Size: Fell to 4.445 acres (from 6.044 acres), indicating a shift toward moderate-sized lots.
Market Dynamics
-
Days on Market (DOM):
- Minimum DOM: Dropped dramatically to 2 days in 2015 (from 4 days in 2014), highlighting quick sales of highly desirable listings.
- Maximum DOM: Extended to 463 days (from 330 days), reflecting prolonged sale times for certain properties.
- Average DOM: Improved to 65 days (from 76 days), showing stronger market efficiency.
-
ClsPr/LstPr Ratio (Close Price to List Price): Lowered to 95.11% in 2015 (from 97.07%), signaling slightly more negotiation in final sale prices.
-
ClsPr/OLP Ratio (Close Price to Original Listing Price): Declined to 93.09% (from 98.33%), suggesting more frequent price reductions.
-
Price Per Square Foot (Pr$/SqFt): Dropped slightly to $92.06 (from $98.74), indicating a slight rollback in per-unit value.
Year Built
- Oldest Property: Predates by 40 years, dating back to 1910 in 2015 (compared to 1950 in 2014), showcasing increased diversity in historical options.
- Newest Property: Advanced to 2015 (compared to 2007 in 2014), reflecting new construction in the marketplace.
- Average Year Built: Declined to 1985 (from 1991), likely due to the inclusion of older listings.
- Median Year Built: Dropped slightly to 1991 (from 1998), showing a broader inclusion of aging inventory.
Notable Market Shifts
- Broader Affordability: The wider range in pricing and smaller property sizes attracted more buyers at lower price points.
- Luxury Market Expansion: More premium properties entered the market, reflected in the higher maximum price and larger square footage.
- Efficient Sales: The faster average DOM indicates an active market, although some high-priced listings extended sale times.
- Moderation in Lot Sizes and Per SqFt Pricing: Reductions in lot sizes and small shifts in price per square foot emphasized affordability while retaining value.
Overall, 2015 reflected an energizing real estate market with higher sales volume, broader buyer choices, and marked affordability improvements, paving the way for a balanced and vibrant housing environment.
Summary of Real Estate Market Analysis for Blue Ridge, TX in 2015
The 2015 real estate market in Blue Ridge, TX showcased robust activity and an array of opportunities for Home-buyers and Home-sellers. With increased closed sales, wider pricing diversity, and faster market turnaround, the year marked substantial progress.
Affordable entry-level homes opened doors for first-time homebuyers, while the emergence of luxury properties reflected growing market confidence. Key performance metrics, such as reduced days on market and accessible mortgage rates, further cemented Blue Ridge, TX‘s position as a thriving and inclusive real estate landscape.
The year 2015 set the tone for sustained growth, making the market well-poised for continued success in subsequent years.
Why Statistics Data is Important
Understanding past market data is essential for making informed decisions in today’s real estate landscape. Historical statistics provide a foundational perspective on trends, aiding in fair pricing and negotiation.
Unlock Exceptional Service!
Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.
Oleg Sedletsky REALTOR® in Blue Ridge, Texas. Call/Text 214.940.8149
Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.
I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Blue Ridge, TX and other locations in the vibrant Dallas-Fort Worth area!
My commitment to ongoing professional development means I’m always enhancing my skills to serve you better. You can count on me as your trusted expert throughout your real estate journey. Plus, I’m fluent in English, Ukrainian, and Russian and ready to assist you every step of the way!
It’s All About You and Your Real Estate Dreams!
My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals and turn your dreams into reality!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Blue Ridge, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.
Contact me today for all your real estate needs in Blue Ridge, Texas! Call/text 214-940-8149
Discover Yearly Real Estate Market Trends for Blue Ridge, TX
2003-2010
Blue Ridge, TX Real Estate Market in 2003
Blue Ridge, TX Real Estate Market in 2004
Blue Ridge, TX Real Estate Market in 2005
Blue Ridge, TX Real Estate Market in 2006
Blue Ridge, TX Real Estate Market in 2007
Blue Ridge, TX Real Estate Market in 2008
2011-2020
Blue Ridge, TX Real Estate Market in 2011
Blue Ridge, TX Real Estate Market in 2012
Blue Ridge, TX Real Estate Market in 2013
Blue Ridge, TX Real Estate Market in 2014
Blue Ridge, TX Real Estate Market in 2015
Blue Ridge, TX Real Estate Market in 2016
Blue Ridge, TX Real Estate Market in 2017
Blue Ridge, TX Real Estate Market in 2018
This market analysis is intended solely for educational purposes. This market analysis is based on data sourced from NTREIS, Inc. This analysis is exclusively focused on single-family homes and does not account for other property types. The total number of real estate transactions within the specified period and location may vary. Data accuracy cannot be guaranteed due to potential input errors made by NTREIS users. This market analysis does not account for all new construction home sales. If you need detailed information about recorded property sales or other public records, please contact the appropriate city or county office.
Blue Ridge, TX Real Estate: 2014 Analysis of the Single-Family Residential Housing Market
The 2014 real estate market in Blue Ridge, TX experienced a dynamic rebound from the prior year, marked by rising property values, improved market efficiency, and a return to luxury sales. A total of 22 homes were sold, showcasing the city’s flexibility in catering to diverse home-buyer needs. With stronger pricing trends, faster transactions, and an increase in property quality, Blue Ridge’s market solidified itself as a prime spot for both affordability and high-end investments.
Key Takeaways and Trends from Blue Ridge’s 2014 Real Estate Market
Pricing Range: With highs of $425,000 and lows of $44,000, the market in 2014 showed resilience and reopened doors to luxury sales while maintaining affordability in the entry-level segment. The sharp rise in average and median prices captured the market’s upward momentum.
Market Efficiency: Faster turnovers, a shorter average DOM, and improved closing-to-list price ratios signal a seller-friendly environment with quick buyer activity.
Unique Outliers: The reintroduction of ultra-large properties, expansive acreage, and four-bathroom homes shows growing activity in the premium housing segment.
Total Homes Closed
The year saw 22 single-family residential homes closed, an uptick from the 21 in 2013. This slight increase reflects steady demand and growing interest from a wide pool of buyers, especially as the market diversified its offerings.
Property Pricing Insights
The 2014 market saw a significant jump in property values, spanning a broad range to meet the needs of different buyer profiles:
- Minimum Price: $44,000, a substantial increase from 2013’s $25,500, indicating better-valued entry-level homes.
- Maximum Price: $425,000, a marked rise from $260,000, reflecting the revitalization of luxury sales.
- Average Price: $179,811, a major improvement from $120,657, showcasing substantial growth in overall property values.
- Median Price: $148,500, an increase from $102,000, demonstrating sustained demand in the mid-market range.
The broad price spectrum underscored opportunities for first-time homebuyers as well as high-end investors.
Property Size and Features
Bedrooms & Bathrooms
The variety of homes sold in 2014 catered to families and individuals alike:
- Bedrooms: Homes included 2 to 4 bedrooms, with an average of 3 bedrooms.
- Bathrooms: Properties offered 1 to 4 baths, highlighting homes equipped with modern amenities.
Square Footage
Homes offered functional living spaces across different size ranges:
- Minimum Size: 1,025 sq. ft., a notable expansion from 792 sq. ft. in 2013.
- Maximum Size: 3,312 sq. ft., a significant increase from 2,429 sq. ft., pointing to the return of larger, luxury homes.
- Average Size: 1,722 sq. ft., up from 1,684 sq. ft., catering to growing family needs.
- Median Size: 1,643 sq. ft., relatively stable compared to 1,741 sq. ft. the previous year.
Lot Sizes
Lot sizes were more spacious:
- Minimum Lot Size: 0.240 acres, higher than 2013’s 0.070 acres, removing ultra-small options.
- Maximum Lot Size: 28.000 acres, up from 20.000 acres, offering larger plots for premium properties.
- Average Lot Size: 6.044 acres, nearly doubling from 3.559 acres.
Market Dynamics
The renewed energy in Blue Ridge’s market brought noticeable improvements in its dynamics:
-
Days on Market (DOM):
- Minimum: 4 days, faster than 2013’s 7 days.
- Maximum: 330 days, lengthening slightly from 289 days, driven by slower transactions for high-end listings.
- Average: 76 days, a sharp improvement from 103 days, reflecting better efficiency.
-
ClsPr/LstPr Ratio (Close Price to List Price): Increased to 97.07%, up from 95.67%, reflecting precise pricing and confident negotiation.
-
ClsPr/OLP Ratio (Close Price to Original Listing Price): Surged to 98.33%, from 90.65%, indicating fewer price reductions.
-
Price Per Square Foot (Pr$/SqFt): Climbed to $98.74, a significant jump from $69.12, underscoring rising market valuations.
Insights into the Most Expensive Blue Ridge, TX Property Sold in 2014
The year’s most expensive property captured the attention of luxury buyers, combining space, modern amenities, and attractive location.
Highlights:
- Price: $425,000
- Bedrooms: 4
- Bathrooms: 4 (3 full, 1 half)
- Square Footage: 3,312 sq. ft.
- Price Per Square Foot: $128.32
- Lot Size: 15.000 acres
- Days on Market (DOM): 82 days
- ClsPr/LstPr Ratio: 96.61%
- ClsPr/OLP Ratio: 94.87%
- Year Built: 2002
Economic context
Average Electricity Costs in Dallas-Fort Worth in 2014
Electricity costs rose slightly to $0.13 per kilowatt hour, emphasizing the increased value of energy-efficient homes in the market.
Texas Average Gas Prices in 2014
Homeowners benefited from moderate gas prices averaging $3.15 per gallon, making suburban and rural properties with longer commutes more appealing.
Average 30-Year Fixed Mortgage Rate in 2014
Mortgage rates increased slightly to 4.31%, yet remained attractive for homebuyers and investors.
Curious about today’s mortgage rates and the home you can comfortably afford?
Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.
Summary of Differences Between 2013 and 2014 Real Estate Data for Blue Ridge, TX
The real estate market in Blue Ridge, TX in 2014 displayed significant growth and increased efficiency compared to 2013. Below are the key differences:
Property Pricing Insights
- Minimum Price: Increased to $44,000 in 2014 (from $25,500 in 2013), indicating higher value for entry-level homes.
- Maximum Price: Jumped to $425,000 (from $260,000), reflecting renewed activity in the luxury housing market.
- Average Price: Surged to $179,811 (from $120,657), showing overall market growth and a shift toward higher-priced offerings.
- Median Price: Climbed to $148,500 (from $102,000), illustrating stronger mid-market home sales.
Property Features
-
Bedrooms:
- Minimum Bedrooms: Dropped to 2 in 2014 (from 3 in 2013), offering affordability and options for smaller households.
- Maximum Bedrooms: Remained stable at 4 bedrooms.
-
Bathrooms: The maximum number of bathrooms increased to 4 baths in 2014 (from 3 baths in 2013), demonstrating improved diversity of amenities.
-
Square Footage:
- Minimum Size: Rose significantly to 1,025 sq. ft. (from 792 sq. ft.), ensuring even entry-level homes offered better space.
- Maximum Size: Surged to 3,312 sq. ft. (from 2,429 sq. ft.), reflecting luxury home growth.
- Average Size: Saw a modest increase to 1,722 sq. ft. (from 1,684 sq. ft.), catering to larger family needs.
- Median Size: Adjusted slightly to 1,643 sq. ft. (from 1,741 sq. ft.), maintaining consistency in mid-market offerings.
Lot Size Area
- Minimum Lot Size: Increased to 0.240 acres in 2014 (from 0.070 acres in 2013), eliminating ultra-small lot options.
- Maximum Lot Size: Swelled to 28.000 acres (from 20.000 acres), indicating stronger availability of larger plots.
- Average Lot Size: Jumped to 6.044 acres (from 3.559 acres), appealing to buyers seeking more expansive properties.
Market Dynamics
-
Days on Market (DOM):
- Minimum DOM: Dropped to 4 days in 2014 (from 7 days in 2013), showcasing an even faster turnaround for attractive listings.
- Maximum DOM: Increased to 330 days (from 289 days), emphasizing the slower sale of high-end properties.
- Average DOM: Shortened dramatically to 76 days (from 103 days), reflecting improved market efficiency.
-
ClsPr/LstPr Ratio (Close Price to List Price): Improved to 97.07% (from 95.67%), highlighting accurate seller pricing and strong buyer demand.
-
ClsPr/OLP Ratio (Close Price to Original Listing Price): Jumped to 98.33% (from 90.65%), suggesting fewer price reductions and strong market confidence.
-
Price Per Square Foot (Pr$/SqFt): Increased significantly to $98.74 (from $69.12), illustrating a notable rise in property valuation.
Year Built
- Oldest Property: Became slightly newer, with oldest properties dating back to 1950 (compared to 1935 in 2013).
- Newest Property: Advanced to 2007 from 2006, showing ongoing additions to inventory.
- Average Year Built: Upgraded to 1991 (from 1983 in 2013), indicating higher-quality properties.
- Median Year Built: Elevated to 1998 (from 1988), reflecting a shift toward more modern homes.
Notable Market Shifts
- Revived Luxury Market: There was a sharp increase in maximum prices, property sizes, and bathroom counts, signifying a resurgence in demand for high-end luxury homes.
- Improved Market Efficiency: Faster average DOM and higher ClsPr/LstPr and ClsPr/OLP ratios highlighted a seller-friendly environment with strong buyer competition.
- Higher Values Per Square Foot: The steep increase in price per square foot underscored growing property valuations and demand for better-quality homes.
Overall, 2014 cemented Blue Ridge, TX’s real estate market as a thriving and diversified landscape, catering to both affordable and luxury homebuyers.
Summary of Real Estate Market Analysis for Blue Ridge, TX in 2014
The 2014 real estate market in Blue Ridge, TX experienced a substantial upswing, with notable growth across pricing, property features, and market efficiency. A total of 22 homes were sold, signaling steady demand and attracting homebuyers across a wide range of budgets. Rising property values reflected increased investor confidence and a return to luxury home offerings, while affordability remained accessible for first-time home-buyers. Market dynamics showcased faster sales timelines and improved pricing accuracy, creating opportunities for both buyers and sellers to achieve their goals efficiently. With economic factors such as manageable mortgage rates and declining gas prices, Blue Ridge, TX‘s real estate market demonstrated resilience and versatility, setting the stage for a promising future of balanced growth and opportunity.
Why Statistics Data is Important
Understanding past market data is essential for making informed decisions in today’s real estate landscape. Historical statistics provide a foundational perspective on trends, aiding in fair pricing and negotiation.
Unlock Exceptional Service!
Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.
Oleg Sedletsky REALTOR® in Blue Ridge, Texas. Call/Text 214.940.8149
Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.
I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Blue Ridge, TX and other locations in the vibrant Dallas-Fort Worth area!
My commitment to ongoing professional development means I’m always enhancing my skills to serve you better. You can count on me as your trusted expert throughout your real estate journey. Plus, I’m fluent in English, Ukrainian, and Russian and ready to assist you every step of the way!
It’s All About You and Your Real Estate Dreams!
My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals and turn your dreams into reality!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Blue Ridge, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.
Contact me today for all your real estate needs in Blue Ridge, Texas! Call/text 214-940-8149
Discover Yearly Real Estate Market Trends for Blue Ridge, TX
2003-2010
Blue Ridge, TX Real Estate Market in 2003
Blue Ridge, TX Real Estate Market in 2004
Blue Ridge, TX Real Estate Market in 2005
Blue Ridge, TX Real Estate Market in 2006
Blue Ridge, TX Real Estate Market in 2007
Blue Ridge, TX Real Estate Market in 2008
2011-2020
Blue Ridge, TX Real Estate Market in 2011
Blue Ridge, TX Real Estate Market in 2012
Blue Ridge, TX Real Estate Market in 2013
Blue Ridge, TX Real Estate Market in 2014
Blue Ridge, TX Real Estate Market in 2015
Blue Ridge, TX Real Estate Market in 2016
Blue Ridge, TX Real Estate Market in 2017
Blue Ridge, TX Real Estate Market in 2018
This market analysis is intended solely for educational purposes. This market analysis is based on data sourced from NTREIS, Inc. This analysis is exclusively focused on single-family homes and does not account for other property types. The total number of real estate transactions within the specified period and location may vary. Data accuracy cannot be guaranteed due to potential input errors made by NTREIS users. This market analysis does not account for all new construction home sales. If you need detailed information about recorded property sales or other public records, please contact the appropriate city or county office.
Blue Ridge, TX Real Estate: 2013 Analysis of the Single-Family Residential Housing Market
The 2013 real estate market in Blue Ridge, TX transitioned into a stabilization phase following the growth witnessed in prior years. With 21 single-family homes sold, the market displayed steady activity while re-calibrating prices and features to align with mid-market demands. Changing home-buyer preferences, affordability trends, and evolving economic conditions influenced the market’s dynamics, paving the way for a sustainable housing landscape.
Key Takeaways and Trends from Blue Ridge’s 2013 Real Estate Market
Pricing Range: The 2013 market experienced a noticeable decline in price ranges, with reduced maximum prices signaling lower luxury sales. Simultaneously, the affordability of entry-level homes remained a priority, as illustrated by declines in minimum and median prices. These trends underscored the market’s focus on value-driven buyers and mid-market affordability.
Market Efficiency: Efficiency remained strong, with shortened DOM and improved ClsPr/LstPr and ClsPr/OLP ratios. Sellers benefitted from faster turnovers, achieving close-to-list prices, while buyers enjoyed fair market rates, sustaining a balanced marketplace.
Unique Outliers: The most prominent outliers included smaller, affordable homes at one end and limited luxury availability at the other. Expansive properties with large lots became noticeably scarcer in 2013, with inventory aligning more closely with functional, family-friendly housing.
Total Homes Closed
A total of 21 residential single-family homes were sold in 2013. This number marked a slowdown from 27 sales in 2012, reflecting a shift toward steady yet moderate buyer activity.
Property Pricing Insights
Property prices in 2013 adjusted to reflect affordability and the growing preference for mid-market homes:
- Minimum Price: $25,500, a drop from 2012’s $31,501, highlighting better affordability.
- Maximum Price: $260,000, down from $422,000 in 2012, indicating lower luxury market activity.
- Average Price: $120,657, a decline from $170,390 in 2012, showing a general market re-calibration.
- Median Price: $102,000, down from $118,000, underscoring consistent affordability in the mid-market segment.
The downward adjustments in price metrics demonstrated buyer preference for smaller, cost-effective homes over expansive luxury properties.
Property Size and Features
The properties sold in 2013 catered to families and individuals seeking functional, mid-sized homes:
- Bedrooms: Ranged from 3 to 4 bedrooms, averaging 3 bedrooms, accommodating family needs.
- Bathrooms: Offered up to 3 total baths, with most having 2 full baths, aligning with modern living standards.
- Square Footage:
- Minimum Size: 792 sq. ft., smaller than 2012’s smallest at 800 sq. ft., ensuring compact options.
- Maximum Size: 2,429 sq. ft., a significant decline from 4,684 sq. ft. in 2012, indicative of reduced luxury offerings.
- Average Size: 1,684 sq. ft., down from 1,966 sq. ft., reflecting buyer favor toward practical living spaces.
- Median Size: 1,741 sq. ft., relatively consistent with previous years, satisfying mid-market buyers.
Lot Sizes
Lot sizes also experienced a contraction:
- Minimum Lot Size: 0.070 acres, up from 0.000 acres, removing townhome-style listings.
- Maximum Lot Size: 20.000 acres, lower than 47.470 acres in 2012, signaling fewer expansive lots.
- Average Lot Size: 3.559 acres, reduced from 7.686 acres, reflecting manageable ownership preferences.
Market Dynamics
Efficiency remained a hallmark of the Blue Ridge, TX market in 2013, even as transaction volume slowed:
-
Days on Market (DOM):
- Minimum DOM: 7 days, slightly more than 5 in 2012, indicating longer quick sales.
- Maximum DOM: 289 days, shorter than 381, demonstrating better turnover of high-end homes.
- Average DOM: Improved to 103 days, a slight decrease from 111 in 2012.
-
ClsPr/LstPr Ratio (Close Price to List Price): Rose to 95.67%, reflecting sellers achieving prices close to their listings.
-
ClsPr/OLP Ratio (Close Price to Original Listing Price): Improved slightly to 90.65%, showcasing solid market demand and negotiable pricing trends.
-
Price Per Square Foot (Pr$/SqFt): Fell to $69.12 from $83.11 in 2012, reflecting the market’s re-calibrated valuations.
Insights into the Most Expensive Blue Ridge, TX Property Sold in 2013
The highest-priced sale of 2013 epitomized a shift toward functional luxury within the mid-market. Selling for $260,000, this home combined practical interior layouts with manageable outdoor space.
Key Highlights:
- Price: $260,000
- Bedrooms: 4
- Bathrooms: 3 (2 full and 1 half bath)
- Square Footage: 2,255 sq. ft.
- Price Per Square Foot: $115.30
- Lot Size: 3.800 acres
- Days on Market (DOM): 34 days
- ClsPr/LstPr Ratio: 98.11%
- ClsPr/OLP Ratio: 98.11%
- Year Built: 2003
This home appealed to buyers seeking move-in-ready properties with modern amenities on a spacious yet manageable lot.
Economic context
Average Electricity Costs in Dallas-Fort Worth in 2013
Electricity costs edged slightly higher in 2013, with an average price of $0.12 per kilowatt hour. This modest rise nudged utility expenses upward, emphasizing the growing importance of energy-efficient homes in the market.
Texas Average Gas Prices in 2013
The average gas price fell to $3.32 per gallon, offering some relief for homeowners concerned about commuting costs. Properties closer to urban centers became more attractive, as buyers sought savings on transportation amidst economic stabilization.
Average 30-Year Fixed Mortgage Rate in 2013
Mortgage rates climbed to 4.16%, nudging higher but remaining relatively affordable for homebuyers. This slight increase encouraged budget-conscious purchasing patterns.
Curious about today’s mortgage rates and the home you can comfortably afford?
Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.
Summary of Differences Between 2012 and 2013 Real Estate Data for Blue Ridge, TX
While the 2012 real estate market in Blue Ridge, TX showed growth and strong activity, 2013 displayed a stabilization period with a shift in pricing trends and property features. Here are the key changes:
Property Pricing Insights
- Minimum Price: Decreased to $25,500 in 2013 (from $31,501 in 2012), marking an increase in affordability for entry-level buyers.
- Maximum Price: Dropped to $260,000 in 2013 (from $422,000 in 2012), reflecting decreased activity in the luxury market.
- Average Price: Declined significantly to $120,657 (from $170,390 in 2012), signaling a market re-calibration to more moderate prices.
- Median Price: Fell to $102,000 (from $118,000), underscoring a shift toward mid-market affordability.
Property Features
-
Bedrooms:
- Minimum Bedrooms: Increased to 3 in 2013 (from 1 in 2012), focusing on family-sized homes.
- Maximum Bedrooms: Decreased to 4 (from 5 in 2012), limiting availability for larger households.
-
Bathrooms: The maximum decreased to 3 baths in 2013 (from 5 baths in 2012), reflecting fewer luxury home offerings.
-
Square Footage:
- Minimum Size: Shrunk slightly to 792 sq. ft. (from 800 sq. ft.), maintaining compact housing options.
- Maximum Size: Decreased to 2,429 sq. ft. (from 4,684 sq. ft.), lowering inventory of large homes.
- Average Size: Reduced to 1,684 sq. ft. (from 1,966 sq. ft.), showing a preference for mid-sized homes.
- Median Size: Stayed relatively stable at 1,741 sq. ft. (from 1,724 sq. ft.), reinforcing buyer preferences.
Lot Size Area
- Minimum Lot Size: Increased to 0.070 acres in 2013 (from 0.000 acres in 2012), eliminating zero-lot-line options.
- Maximum Lot Size: Lowered significantly to 20.000 acres (from 47.470 acres), tightening availability of large plots.
- Average Lot Size: Decreased to 3.559 acres (from 7.686 acres), reflecting demand for more manageable spaces.
Market Dynamics
-
Days on Market (DOM):
- Minimum DOM: Increased slightly to 7 days (from 5 days in 2012).
- Maximum DOM: Reduced to 289 days (from 381 days), encouraging faster turnover of higher-end properties.
- Average DOM: Shortened to 103 days (from 111 days), highlighting improved overall market efficiency.
-
ClsPr/LstPr Ratio (Close Price to List Price): Edged up to 95.67% (from 95.16%), showing sellers were able to close closer to their asking prices.
-
ClsPr/OLP Ratio (Close Price to Original Listing Price): Improved slightly to 90.65% (from 90.62%), signaling reduced price negotiation.
-
Price Per Square Foot (Pr$/SqFt): Fell to $69.12 (from $83.11), reflecting re-calibrated property valuations.
Year Built
- Oldest Property: Became older, as the oldest property shifted to 1935 (from 1960 in 2012).
- Newest Property: Changed to 2006 (from 2009), indicating less newly-built inventory.
- Average Year Built: Dropped to 1983 (from 1994), showcasing an emphasis on older homes.
- Median Year Built: Lowered to 1988 (from 2000), underscoring the market’s slight shift away from modern construction.
Key Observations
- Re-calibration in Pricing: Decreases in maximum, average, and median prices point to a shift from high-end to mid-market properties, aligning with affordability trends.
- Shift in Property Features: The inventory prioritized mid-sized, family-friendly homes over expansive or luxury properties.
- Improved Market Activity: Shorter average DOM and stable closing-to-list ratios suggest a more efficient marketplace, even as activity slowed slightly.
- Lot Sizes and Age Trend: Smaller lots and older homes gained prominence, indicating a shift in buyer priorities toward manageable properties and affordability.
Overall, the 2013 market in Blue Ridge, TX moved toward stabilization and re-calibration after 2012’s highs, balancing affordability with consistent buyer demand.
Summary of Real Estate Market Analysis for Blue Ridge, TX in 2013
The 2013 Blue Ridge, TX real estate market reflected a transitional phase, focused on re-calibrated prices and family-oriented properties. Home-Buyers continued to show interest in well-valued homes, while Home-Sellers adjusted to market trends favoring practicality over excess. Despite lower transaction volume, strong closing-to-list ratios and reasonable DOM pointed to a healthy and balanced marketplace.
Why Statistics Data is Important
Understanding past market data is essential for making informed decisions in today’s real estate landscape. Historical statistics provide a foundational perspective on trends, aiding in fair pricing and negotiation.
Unlock Exceptional Service!
Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.
Oleg Sedletsky REALTOR® in Blue Ridge, Texas. Call/Text 214.940.8149
Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.
I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Blue Ridge, TX and other locations in the vibrant Dallas-Fort Worth area!
My commitment to ongoing professional development means I’m always enhancing my skills to serve you better. You can count on me as your trusted expert throughout your real estate journey. Plus, I’m fluent in English, Ukrainian, and Russian and ready to assist you every step of the way!
It’s All About You and Your Real Estate Dreams!
My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals and turn your dreams into reality!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Blue Ridge, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.
Contact me today for all your real estate needs in Blue Ridge, Texas! Call/text 214-940-8149
Discover Yearly Real Estate Market Trends for Blue Ridge, TX
2003-2010
Blue Ridge, TX Real Estate Market in 2003
Blue Ridge, TX Real Estate Market in 2004
Blue Ridge, TX Real Estate Market in 2005
Blue Ridge, TX Real Estate Market in 2006
Blue Ridge, TX Real Estate Market in 2007
Blue Ridge, TX Real Estate Market in 2008
2011-2020
Blue Ridge, TX Real Estate Market in 2011
Blue Ridge, TX Real Estate Market in 2012
Blue Ridge, TX Real Estate Market in 2013
Blue Ridge, TX Real Estate Market in 2014
Blue Ridge, TX Real Estate Market in 2015
Blue Ridge, TX Real Estate Market in 2016
Blue Ridge, TX Real Estate Market in 2017
Blue Ridge, TX Real Estate Market in 2018
This market analysis is intended solely for educational purposes. This market analysis is based on data sourced from NTREIS, Inc. This analysis is exclusively focused on single-family homes and does not account for other property types. The total number of real estate transactions within the specified period and location may vary. Data accuracy cannot be guaranteed due to potential input errors made by NTREIS users. This market analysis does not account for all new construction home sales. If you need detailed information about recorded property sales or other public records, please contact the appropriate city or county office.
Blue Ridge, TX Real Estate: 2012 Analysis of the Single-Family Residential Housing Market
The 2012 real estate market in Blue Ridge, TX demonstrated robust growth, marked by increased transaction activity, a booming luxury segment, and diverse inventory catering to a wider buyer demographic. With 27 properties sold, nearly doubling the sales of the previous year, the market signaled a strong recovery driven by favorable economic conditions like low mortgage rates and improving buyer confidence.
Key Takeaways and Trends from Blue Ridge’s 2012 Real Estate Market
Pricing Range: The range of prices increased significantly, with the maximum price rising from $300,000 to $422,000, reflecting a reinvigorated demand for high-end homes. Meanwhile, the median price surged to $118,000, demonstrating growing strength in the mid-market segment. This rise in prices was accompanied by improved buyer expectations of property value.
Market Efficiency: Although sales efficiency slowed slightly, with average DOM rising to 111 days, the ClsPr/LstPr ratio of 95.16% indicated that properties consistently sold closer to their asking prices. This balance suggested a more mature market capable of accommodating both sellers’ and buyers’ needs efficiently.
Unique Outliers: Luxury properties had a standout year in 2012. The largest homes exceeded 4,600 sq. ft. on spacious lots of up to 47 acres, meeting buyer demand for size and exclusivity. At the same time, inventory also expanded to include compact, entry-level homes priced as low as $31,501, catering to first-time buyers and smaller families.
Total Homes Closed
A total of 27 residential single-family homes closed in 2012, a significant jump from the 14 homes sold in 2011. This surge in activity showcased renewed interest in property investments and marked a turning point for the local market.
Property Pricing Insights
The pricing trends in 2012 provided opportunities for both affordability-driven and luxury-seeking buyers:
- Minimum Price: $31,501 (a slight increase from 2011’s $26,000).
- Maximum Price: $422,000 (up from $300,000, indicating a resurgence in high-end property transactions).
- Average Price: $170,390 (an impressive rise from $102,052 in 2011, reflecting stronger valuations).
- Median Price: $118,000 (up from $78,650, showing strengthened mid-market activity).
The spike in both average and median prices suggested a healthier market trending toward competitive pricing across all segments.
Property Size and Features
The 2012 market offered larger homes and diverse layouts, appealing to both families and individuals:
- Bedrooms: Homes provided 1 to 5 bedrooms, with an average of 3 bedrooms, balancing smaller residences with options for larger households.
- Bathrooms: Properties featured up to 5 total baths (4 full and 1 half), averaging 2 baths—a notable shift to accommodating modern living standards.
- Square Footage:
- Minimum Size: 800 sq. ft. (slightly below 2011’s 866 sq. ft., highlighting compact, affordable choices).
- Maximum Size: 4,684 sq. ft. (a substantial increase from 2,862 sq. ft., showcasing a strong luxury segment).
- Average Size: 1,966 sq. ft., reflecting buyers’ preference for more spacious homes.
- Median Size: 1,724 sq. ft., a slight growth aligning with mid-market buyer needs.
- Lot Size Area: Homes offered significantly larger options, with maximum lot sizes reaching 47.470 acres and an average of 7.686 acres, ideal for buyers seeking privacy or land for development.
Market Dynamics
The market in 2012 experienced a blend of faster selling times and improved seller efficiency in achieving listed prices:
- Days on Market (DOM):
- Minimum DOM: Rose to 5 days (from just 2 days in 2011).
- Maximum DOM: Increased to 381 days (compared to 282 days in 2011), reflecting some lingering inventory in luxury properties.
- Average DOM: Grew to 111 days (from 101 days), demonstrating a slight slowdown in market velocity.
- ClsPr/LstPr Ratio: Improved to 95.16%, meaning sellers closed at prices much closer to their listings.
- ClsPr/OLP Ratio: Climbed significantly to 90.62%, suggesting a decrease in price cuts needed to finalize sales.
- Price Per Square Foot (Pr$/SqFt): Jumped to $83.11 (from $61.97), signifying better valuations for residential properties.
This marked a market stabilization, with sellers achieving higher returns while buyers continued to find well-valued properties.
Insights into the Most Expensive Blue Ridge, TX Property Sold in 2012
The most luxurious property of 2012 emphasized high-end amenities and space, attracting serious buyer interest. With a selling price of $422,000, this impressive home stood out for its spacious layout and prime features.
Key Highlights:
- Price: $422,000
- Bedrooms: 5
- Bathrooms: 5 total (4 full and 1 half bath)
- Square Footage: 4,684 sq. ft.
- Price Per Square Foot: $90.09
- Lot Size: 18.690 acres
- Days on Market (DOM): 27
- ClsPr/LstPr (Close Price to List Price): 93.99%
- ClsPr/OLP (Close Price to Original Listing Price): 93.99%
- Year Built: 1986
This property showcased the strong interest in luxury homes, built on expansive lots and modern layouts.
Economic context
Average Electricity Costs in Dallas-Fort Worth in 2012
The average electricity price remained steady at $0.11 per kilowatt hour, providing predictable utility costs for homeowners. Energy-conscious buyers continued exploring options to optimize household expenses while retrofitting older homes to modern standards.
Texas Average Gas Prices in 2012
Gas prices climbed slightly to $3.42 per gallon, increasing commuting costs. Buyers’ preferences shifted toward properties closer to work or with accessibility to public transportation, balancing rising transportation costs with housing affordability.
Average 30-Year Fixed Mortgage Rate in 2012
With mortgage rates dropping historically low to 3.88%, affordability drove significant activity in all price ranges. This continued to encourage home-buyers to invest in larger or higher-end homes while keeping monthly payments manageable.
Curious about today’s mortgage rates and the home you can comfortably afford?
Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.
Summary of Differences Between 2011 and 2012 Real Estate Data for Blue Ridge, TX
The 2012 real estate market in Blue Ridge, TX outperformed 2011 in terms of activity and pricing, with several key changes indicating a more dynamic and diverse marketplace.
Property Pricing Insights
- Minimum Current Price: Increased to $31,501 (from $26,000 in 2011), reflecting a slight uplift in the entry-level market.
- Maximum Current Price: Jumped significantly to $422,000 (from $300,000 in 2011), highlighting resurgence in luxury property sales.
- Average Price: Skyrocketed to $170,390 (from $102,052), almost doubling and signaling stronger buyer demand and property valuations.
- Median Price: Grew considerably to $118,000 (from $78,650), showing robust mid-market activity.
Property Features
-
Bedrooms:
- Minimum Bedrooms: Decreased to 1 (from 2 in 2011), accommodating smaller households.
- Maximum Bedrooms: Expanded to 5 (up from 4), providing more options for larger families.
-
Bathrooms: Grew from a maximum of 3 in 2011 to 5 in 2012, marking an appeal for higher-end, multi-bathroom properties.
-
Square Footage:
- Minimum Size: Reduced slightly to 800 sq. ft. (from 866 sq. ft. in 2011), creating affordable compact home options.
- Maximum Size: Swelled to 4,684 sq. ft. (from 2,862 sq. ft.), showcasing a return of larger luxury homes.
- Average Size: Increased to 1,966 sq. ft. (from 1,749 sq. ft.), meeting buyer preference for homes with more space.
- Median Size: Held steady near 1,724 sq. ft.
Lot Size Area
- Minimum Lot Size: Dropped to 0.000 acres (from 0.254 acres in 2011), likely reflecting properties with no yard or shared spaces.
- Maximum Lot Size: Expanded to 47.470 acres (from 40.808 acres), creating premium opportunities for buyers seeking expansive land.
- Average Lot Size: Fell to 7.686 acres (from 9.087 acres), indicating moderate downsizing in typical property plots.
Market Dynamics
-
Days on Market (DOM):
- Minimum DOM: Increased to 5 days (from 2 days in 2011), slowing slightly for the fastest sales.
- Maximum DOM: Increased to 381 days (from 282 days), reflecting lingering higher-end inventory.
- Average DOM: Rose to 111 days (from 101 days), suggesting a marginal slowdown in market turnover.
-
ClsPr/LstPr (Close Price to List Price Ratio): Improved to 95.16% (from 90.62%), indicating sellers were achieving prices closer to their expectations.
-
ClsPr/OLP (Close Price to Original Listing Price Ratio): Rose significantly to 90.62% (from 84.81%), showing reduced price cuts and strong buyer competition.
-
Price Per SqFt (Pr$/SqFt): Climbed to $83.11 (from $61.97), reflecting healthier valuations across all segments.
Year Built
- Oldest Property: Became newer, with the oldest property built in 1960 (from 1910 in 2011).
- Newest Property: Moved forward to 2009 (from 2005), indicating more modern inventory.
- Average Year Built: Advanced to 1994 (from 1976), reflecting the skew toward newer homes.
- Median Year Built: Jumped to 2000 (from 1981), showcasing an overall focus on relatively modern properties.
Key Observations
- Significant Market Growth: A sharp rise in total transactions (from 14 in 2011 to 27 in 2012) demonstrated renewed buyer confidence and market activity.
- Higher-End Properties: Luxury homes regained popularity, with increased maximum price, square footage, and bathrooms.
- Strong Valuations: Higher average and median prices, along with increased price per square foot, highlighted a recalibration of the market toward healthier pricing.
- Broader Inventory Diversity: With a mix of smaller, entry-level homes and expansive luxury options, the 2012 market catered to a wider buyer base.
Overall, the 2012 market returned stronger both in volume and pricing, capitalizing on optimal economic conditions like low mortgage rates. It set the stage for continued growth and diversity.
Summary of Real Estate Market Analysis for Blue Ridge, TX in 2012
The 2012 real estate market in Blue Ridge, TX highlighted impressive growth across all segments. Transaction activity nearly doubled, driven by increased affordability, larger homes, and the resurgence of luxury inventory. Improved price valuations, a wider range of housing options, and record-low mortgage rates created an ideal environment for both homebuyers and home-sellers, suggesting a market at its most balanced in recent years.
Why Statistics Data is Important
Understanding past market data is essential for making informed decisions in today’s real estate landscape. Historical statistics provide a foundational perspective on trends, aiding in fair pricing and negotiation.
Unlock Exceptional Service!
Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.
Oleg Sedletsky REALTOR® in Blue Ridge, Texas. Call/Text 214.940.8149
Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.
I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Blue Ridge, TX and other locations in the vibrant Dallas-Fort Worth area!
My commitment to ongoing professional development means I’m always enhancing my skills to serve you better. You can count on me as your trusted expert throughout your real estate journey. Plus, I’m fluent in English, Ukrainian, and Russian and ready to assist you every step of the way!
It’s All About You and Your Real Estate Dreams!
My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals and turn your dreams into reality!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Blue Ridge, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.
Contact me today for all your real estate needs in Blue Ridge, Texas! Call/text 214-940-8149
Discover Yearly Real Estate Market Trends for Blue Ridge, TX
2003-2010
Blue Ridge, TX Real Estate Market in 2003
Blue Ridge, TX Real Estate Market in 2004
Blue Ridge, TX Real Estate Market in 2005
Blue Ridge, TX Real Estate Market in 2006
Blue Ridge, TX Real Estate Market in 2007
Blue Ridge, TX Real Estate Market in 2008
2011-2020
Blue Ridge, TX Real Estate Market in 2011
Blue Ridge, TX Real Estate Market in 2012
Blue Ridge, TX Real Estate Market in 2013
Blue Ridge, TX Real Estate Market in 2014
Blue Ridge, TX Real Estate Market in 2015
Blue Ridge, TX Real Estate Market in 2016
Blue Ridge, TX Real Estate Market in 2017
Blue Ridge, TX Real Estate Market in 2018
This market analysis is intended solely for educational purposes. This market analysis is based on data sourced from NTREIS, Inc. This analysis is exclusively focused on single-family homes and does not account for other property types. The total number of real estate transactions within the specified period and location may vary. Data accuracy cannot be guaranteed due to potential input errors made by NTREIS users. This market analysis does not account for all new construction home sales. If you need detailed information about recorded property sales or other public records, please contact the appropriate city or county office.
Blue Ridge, TX Real Estate: 2011 Analysis of the Single-Family Residential Housing Market
The 2011 real estate market in Blue Ridge, TX showed significant changes, characterized by increased pricing, quicker sales, and an emphasis on mid-sized and larger properties. With 14 closed transactions, this year reflected a drop in sales volume but demonstrated healthier valuations and improved market dynamics. Buyers and sellers adjusted to the evolving trends, navigating an efficient market with a more balanced pricing strategy.
Key Takeaways and Trends from Blue Ridge’s 2011 Real Estate Market
Pricing Range: The market refined its focus, with the minimum price increasing significantly to $26,000 while the maximum price adjusted slightly to $300,000. The rise in both median and average prices reflected improving evaluations and higher mid-market engagement.
Market Efficiency: The faster minimum DOM of 2 days and reduced maximum DOM showcased a more vibrant and competitive marketplace. Sellers saw improved buyer demand, especially for well-priced homes, and managed minor improvements in sale-to-list price ratios.
Unique Outliers: The availability of larger lot sizes, reaching a maximum of 40.808 acres, gave buyers new opportunities to access expansive outdoor spaces. However, smaller luxury homes dominated the high end, with maximum square footage reduced from 4,179 sq. ft. in the previous year to 2,862 sq. ft., aligning more with buyer preferences for value-based family homes.
Total Homes Closed
2011 saw 14 homes closed, a reduction from the 18 transactions in 2010. While the volume dipped, the market became more efficient, reflecting heightened competition for desirable properties.
Property Pricing Insights
The pricing dynamics in 2011 highlighted recovery in property values alongside affordability:
- Minimum Price: $26,000 (a significant increase from $5,100 in 2010, removing ultra-low-budget homes).
- Maximum Price: $300,000 (slightly below 2010’s high of $322,000, showing a more focused demand in the luxury segment).
- Average Price: $102,052 (up from $94,495, signaling a healthier market).
- Median Price: $78,650 (an improvement from $72,500, showcasing steady mid-market growth).
The rise in average and median prices indicates a re-calibrated market favoring balanced pricing over extreme affordability or luxury.
Property Size and Features
The 2011 market offered a more diverse range of property sizes and features with an emphasis on practicality and larger lot sizes:
- Bedrooms: Properties had 2 to 4 bedrooms, maintaining an average of 3 bedrooms.
- Bathrooms: Homes came with 1 to 3 bathrooms, maintaining an average of 2 bathrooms to suit families.
- Square Footage:
- Minimum Size: 866 sq. ft. (up from 744 sq. ft., offering more functional entry-level properties).
- Maximum Size: 2,862 sq. ft. (a reduction from the larger homes of 2010, which maxed out at 4,179 sq. ft.).
- Average Size: 1,749 sq. ft., showing growth from 2010’s average size of 1,610 sq. ft., and catering to buyers seeking more spacious homes.
- Median Size: 1,720 sq. ft., a step up from last year’s 1,420 sq. ft.
The market reflected a balance between mid-sized affordability and larger properties for families needing additional space.
Market Dynamics
2011 was a year of significant improvement in market efficiency and pricing consistency, as reflected in metrics like DOM and valuation trends:
- Days on Market (DOM):
- Minimum DOM: 2 days (a dramatic improvement from 6 days in 2010).
- Maximum DOM: 282 days (a sharp drop from 495 days, revealing quicker sales even at the higher end).
- Average DOM: Decreased to 101 days (from 135 days), showcasing a faster average market turnover.
- ClsPr/LstPr Ratio: Improved to 90.62%, suggesting stable seller-to-buyer pricing negotiations.
- ClsPr/OLP Ratio: Enjoyed a slight uptick to 84.81%, reflecting a reduction in listing price reductions.
- Price Per SqFt (Pr$/SqFt): Increased to $61.97, emphasizing healthier valuations and buyer interest in homes with better amenities.
The improved metrics underscored a more balanced and responsive market, with sellers achieving quicker deals and buyers finding quality homes across price ranges.
Insights into the Most Expensive Blue Ridge, TX Property Sold in 2011
The standout luxurious property of 2011 resumed the market’s refined appeal for high-quality spaces. Selling for $300,000, this charming home highlighted expansive living and modern amenities.
Key metrics include:
- Price: $300,000
- Square footage: 2,372 sq. ft.
- Price per sq. ft.: $126.48
- Bedrooms: 4
- Bathrooms: 3 full baths
- Lot size: 37.180 acres
- Days on Market (DOM): 147 days
- ClsPr/LstPr and ClsPr/OLP: 92.31%
- Year Built: 1972
This property’s combination of acreage, spacious layout, and modern features added to its high-end appeal, drawing buyer interest in a relatively short sales timeline.
Economic context
The economic environment in Blue Ridge, TX during 2011 exhibited notable shifts that influenced the local real estate market.
Average Electricity Costs in Dallas-Fort Worth in 2011
The average electricity price for 2011 decreased to $0.11 per kilowatt hour, offering homeowners reduced utility costs. This drop encouraged buyers to optimize living expenses and invest in energy-efficient properties.
Texas Average Gas Prices in 2011
Gas prices climbed considerably to $3.37 per gallon. This rise impacted commuter costs, incentivizing buyers to explore suburban or efficient locations closer to work to cut travel-related expenses.
Average 30-Year Fixed Mortgage Rate in 2011
The average fixed mortgage rate dropped slightly to 4.65%, creating low borrowing costs and making homeownership attractive to new buyers. This decline in rates allowed potential buyers to lock in favorable monthly payments, making even larger or upgraded homes more accessible. For first-time home-buyers and investors alike, 2011 presented a unique opportunity to capitalize on low borrowing costs and secure long-term savings. Taking the first step toward homeownership by locking in mortgage rates was crucial
Curious about today’s mortgage rates and the home you can comfortably afford?
Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.
Summary of Differences Between 2010 and 2011 Real Estate Data for Blue Ridge, TX
The 2011 real estate market in Blue Ridge, TX evolved significantly compared to 2010, reflecting healthier property valuations and faster sales cycles despite some contrasting dynamics.
Property Pricing Insights
- Minimum Current Price: Increased from $5,100 in 2010 to $26,000 in 2011, removing ultra-low-cost options from the market.
- Maximum Current Price: Slightly decreased from $322,000 to $300,000, signaling a tapering in luxury demand.
- Average Price: Rose from $94,495 to $102,052, marking improved property valuations.
- Median Price: Increased from $72,500 to $78,650, showcasing steady growth in mid-market pricing.
Property Features
-
Bedrooms:
- Minimum Bedrooms: Increased from 1 in 2010 to 2 in 2011, addressing the demand for larger homes.
- Maximum Bedrooms: Held steady at 4 bedrooms, providing balance for family buyers.
-
Bathrooms: The maximum number of bathrooms dropped from 5 in 2010 to 3 in 2011, reflecting fewer high-end properties.
-
Square Footage:
- Minimum Size: Increased from 744 sq. ft. in 2010 to 866 sq. ft. in 2011, indicating fewer compact entries into the market.
- Maximum Size: Dropped from 4,179 sq. ft. to 2,862 sq. ft., signaling reduced luxury inventory.
- Average Size: Rose from 1,610 sq. ft. to 1,749 sq. ft., reflecting an overall uptick in home size.
- Median Size: Increased from 1,420 sq. ft. to 1,720 sq. ft., solidifying the preference for mid-sized homes.
Lot Size Area
- Minimum Lot Size: Increased from 0.180 acres in 2010 to 0.254 acres in 2011, ensuring slightly larger yard areas for buyers.
- Maximum Lot Size: Spiked from 7.776 acres to an impressive 40.808 acres, demonstrating greater availability of expansive lots.
- Average Lot Size: Jumped from 1.961 acres to 9.087 acres, reinforcing the appeal of properties with more land.
Market Dynamics
-
Days on Market (DOM):
- Minimum DOM: Improved from 6 days in 2010 to an exceptionally fast 2 days in 2011, signaling heightened demand for desirable listings.
- Maximum DOM: Decreased notably from 495 days to 282 days, reflecting greater market efficiency.
- Average DOM: Declined from 135 days to 101 days, indicating quicker turnover on average.
-
ClsPr/LstPr (Close Price to List Price Ratio): Slightly improved from 90.49% in 2010 to 90.62%, reflecting stable negotiation margins for sellers.
-
ClsPr/OLP (Close Price to Original Listing Price Ratio): Improved marginally from 84.59% to 84.81%, highlighting reduced price reductions to close deals.
-
Price Per SqFt (Pr$/SqFt): Increased from $54.58 to $61.97, representing better property valuations per square foot.
Year Built
- Oldest Property: Expanded inventory diversity, with the oldest property dating back to 1910 in 2011 compared to 1953 in 2010.
- Newest Property: Held steady with the most recent homes built in 2005 in both years.
- Average Year Built: Declined from 1988 in 2010 to 1976 in 2011, indicating a tilt toward selling older homes.
- Median Year Built: Dropped from 1987 to 1981, continuing the trend of older inventory dominating sales.
Key Observations
- More Efficient Market: Faster sales and reduced maximum DOM indicate better alignment between buyer demand and available inventory.
- Improved Prices: Growth in average property size, median pricing, and price per square foot represent healthier valuations.
- Varied Lot Sizes: The wide range in lot sizes brought diversity, offering buyers options for larger plots.
- Older Homes Dominate: A shift toward older properties reflects changing buyer priorities, possibly to capitalize on affordable renovation opportunities.
The 2011 market showcased modest improvements in value and efficiency, signaling cautious optimism amidst ongoing economic adjustments.
Summary of Real Estate Market Analysis for Blue Ridge, TX in 2011
The 2011 real estate market in Blue Ridge, TX showed marked improvements in valuations, sales dynamics, and inventory diversity. While the total number of transactions dropped compared to 2010, the market demonstrated increased efficiency with faster sales and solid pricing trends.
Home-Buyers benefited from moderately priced homes and expanded options for spacious lots while facing higher commuting costs due to rising gas prices. Home-Sellers experienced stronger closing ratios with less need for significant price reductions. The year highlighted a balanced housing market, appealing to both value-driven and quality-seeking buyers. These trends signaled cautious optimism and laid a solid foundation for ongoing recovery and growth in Blue Ridge’s real estate sector.
Why Statistics Data is Important
Understanding past market data is essential for making informed decisions in today’s real estate landscape. Historical statistics provide a foundational perspective on trends, aiding in fair pricing and negotiation.
Unlock Exceptional Service!
Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.
Oleg Sedletsky REALTOR® in Blue Ridge, Texas. Call/Text 214.940.8149
Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.
I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Blue Ridge, TX and other locations in the vibrant Dallas-Fort Worth area!
My commitment to ongoing professional development means I’m always enhancing my skills to serve you better. You can count on me as your trusted expert throughout your real estate journey. Plus, I’m fluent in English, Ukrainian, and Russian and ready to assist you every step of the way!
It’s All About You and Your Real Estate Dreams!
My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals and turn your dreams into reality!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Blue Ridge, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.
Contact me today for all your real estate needs in Blue Ridge, Texas! Call/text 214-940-8149
Discover Yearly Real Estate Market Trends for Blue Ridge, TX
2003-2010
Blue Ridge, TX Real Estate Market in 2003
Blue Ridge, TX Real Estate Market in 2004
Blue Ridge, TX Real Estate Market in 2005
Blue Ridge, TX Real Estate Market in 2006
Blue Ridge, TX Real Estate Market in 2007
Blue Ridge, TX Real Estate Market in 2008
2011-2020
Blue Ridge, TX Real Estate Market in 2011
Blue Ridge, TX Real Estate Market in 2012
Blue Ridge, TX Real Estate Market in 2013
Blue Ridge, TX Real Estate Market in 2014
Blue Ridge, TX Real Estate Market in 2015
Blue Ridge, TX Real Estate Market in 2016
Blue Ridge, TX Real Estate Market in 2017
Blue Ridge, TX Real Estate Market in 2018
This market analysis is intended solely for educational purposes. This market analysis is based on data sourced from NTREIS, Inc. This analysis is exclusively focused on single-family homes and does not account for other property types. The total number of real estate transactions within the specified period and location may vary. Data accuracy cannot be guaranteed due to potential input errors made by NTREIS users. This market analysis does not account for all new construction home sales. If you need detailed information about recorded property sales or other public records, please contact the appropriate city or county office.
Blue Ridge, TX Real Estate: 2010 Analysis of the Single-Family Residential Housing Market
The 2010 real estate market in Blue Ridge, TX saw shifts, reflecting broader economic challenges and an emphasis on affordability. With 18 homes sold, the market demonstrated a slight increase in activity but also revealed signs of cautious buyer behavior. The dynamics of pricing, property features, and market trends underscored a significant realignment toward value-focused transactions.
Key Takeaways and Trends from Blue Ridge’s 2010 Real Estate Market
Pricing Range: The dramatic reduction in both average and median prices reflects a strong pivot toward affordability. While the maximum price also declined, ultra-affordable listings under $10,000 gained prominence.
Market Efficiency: The sharp rise in average DOM and lower close-to-list price ratios signal a slower market, though a few highly desirable properties saw rapid turnover.
Unique Outliers: The appearance of both highly inexpensive properties and a handful of ultra-large homes (up to 4,179 sq. ft.) showcased market diversity. However, the reduction in average property size and lot area emphasized streamlined options for affordability.
Total Homes Closed
The market recorded 18 closed transactions for residential single-family homes, up just one sale from 2009. This modest growth highlights consistency in market activity despite new economic pressures.
Property Pricing Insights
The 2010 pricing landscape evolved to favor affordability:
- Minimum Price: $5,100 (a dramatic drop from $52,000 in 2009, signaling highly affordable options).
- Maximum Price: $322,000 (down from $380,000, indicating reduced demand in the high-end segment).
- Average Price: $94,495 (a steep decline from $160,508, reflecting softer market conditions).
- Median Price: $72,500 (down from $152,000, emphasizing a significant affordability focus).
The reduction in average and median prices highlights a buyer-driven market with competitive pricing.
Property Size and Features
The range of property sizes and features catered to various buyer demands but leaned toward more modest offerings:
- Bedrooms: Spanned from 1 to 4, averaging 3 bedrooms.
- Bathrooms: Expanded significantly, offering 1 to 5 options, averaging 2 bathrooms.
- Square Footage:
- Minimum Size: 744 sq. ft. (a sharp decline from 1,184 sq. ft. in 2009, inviting ultra-affordable buyers).
- Maximum Size: 4,179 sq. ft. (an increase from the prior year, with ultra-large homes still in demand).
- Average Size: 1,610 sq. ft. (down from 1,973 sq. ft., reflecting a preference for smaller residences).
- Median Size: 1,420 sq. ft. (compared to 2,018 sq. ft. in 2009, a reduction in typical home size).
The data suggests a shift toward more affordable, smaller homes appealing to a broader market.
Market Dynamics
The real estate market in 2010 displayed significant changes in efficiency and seller performance:
- Days on Market (DOM):
- Minimum DOM: 6 days (an improvement from 49 days in 2009, showcasing quick sales for desirable properties).
- Maximum DOM: 495 days (up from 146 days, with some listings stagnating for extended periods).
- Average DOM: 135 days (a notable rise from 53 days, indicating slower overall activity).
- ClsPr/LstPr Ratio: Averaged 90.49%, a decrease from 95.69%, showcasing greater negotiation leverage for buyers.
- ClsPr/OLP Ratio: Averaged 84.59%, a decline from 93.42%, with sellers making deeper price reductions.
- Price Per Square Foot (Pr$/SqFt): Averaged $54.58, a decline from $76.34, reinforcing reduced property values.
The longer sales cycle and greater price concessions indicate a market accommodating cautious buyers.
Insights into the Most Expensive Blue Ridge, TX Property Sold in 2010
The most expensive property sold in 2010 demonstrated high-end appeal with modern features. Selling for $322,000, this home offered 2,137 sq. ft. of living space on a 7.776-acre lot:
- Price Per SqFt: $150.68
- Bedrooms: 3
- Bathrooms: 3 (2 full, 1 half)
- ClsPr/LstPr Ratio: 98.17%
- ClsPr/OLP Ratio: 98.17%
- Days on Market (DOM): 90
- Year Built: 1998
This property highlighted resilience in the premium market, appealing to buyers seeking luxury features and ample land.
Economic context
Broader economic changes had mixed effects:
Average Electricity Costs in Dallas-Fort Worth in 2010
The average electricity price in 2010 dropped to $0.12 per kilowatt hour, making homeownership more affordable. This reduction supported households balancing utility costs with other economic pressures.
Texas Average Gas Prices in 2010
Gas prices rose slightly to $2.64 per gallon, but remained far below earlier peaks. While this increased commuting costs, suburban living options still appealed to cost-conscious buyers.
Average 30-Year Fixed Mortgage Rate in 2010
The 30-year fixed mortgage rate fell to 4.86%, offering significant savings on home loans. Buyers were able to secure lower payments, often making larger homes or premium options more accessible.
Curious about today’s mortgage rates and the home you can comfortably afford?
Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.
Summary of Differences Between 2009 and 2010 Real Estate Data for Blue Ridge, TX
A comparison of the 2010 and 2009 real estate markets for Blue Ridge, TX reveals significant shifts and adjustments across various metrics:
Property Pricing Insights
- Minimum Current Price: Dropped steeply from $52,000 in 2009 to just $5,100 in 2010, showcasing an increase in ultra-affordable listings.
- Maximum Current Price: Decreased from $380,000 in 2009 to $322,000 in 2010, indicating cooling in the luxury market.
- Average Price: Declined significantly from $160,508 to $94,495, pointing to a buyer-friendly market.
- Median Price: Fell from $152,000 to $72,500, highlighting a shift toward affordability at the market’s midpoint.
Property Features
- Bedrooms: Minimum dropped from 2 in 2009 to 1 in 2010, creating more budget-friendly entry points.
- Bathrooms: Expanded potential, with a range of 1 to 5 bathrooms in 2010 compared to 2 to 4 in 2009, meeting diverse buyer needs.
- Square Footage:
- Minimum Size: Fell from 1,184 sq. ft. in 2009 to 744 sq. ft. in 2010, reflecting smaller, less costly homes entering the market.
- Maximum Size: Increased from 3,400 sq. ft. to 4,179 sq. ft., introducing larger homes for select buyers.
- Average Size: Decreased from 1,973 sq. ft. to 1,610 sq. ft., reflecting a focus on modest home sizes.
- Median Size: Declined from 2,018 sq. ft. to 1,420 sq. ft., signaling an overall reduction in standard home size.
Lot Size Area
- Minimum Lot Size: Increased from 0.051 acres in 2009 to 0.180 acres in 2010, reflecting slight growth in minimum outdoor space.
- Maximum Lot Size: Dropped sharply from 41.000 acres to 7.776 acres, significantly reducing large-lot options.
- Average Lot Size: Fell from 6.567 acres to 1.961 acres, reflecting a scaling down of typical lots offered.
Market Dynamics
- Days on Market (DOM):
- Minimum DOM: Improved from 49 days in 2009 to only 6 days in 2010, showing faster turnover for the quickest sales.
- Maximum DOM: Increased significantly from 146 days to 495 days, indicating longer stagnation for slower-moving listings.
- Average DOM: Rose sharply from 53 days to 135 days, reflecting cautious buyer activity and extended negotiation periods.
- ClsPr/LstPr (Close Price to List Price Ratio): Decreased from 95.69% to 90.49%, indicating greater concessions by sellers.
- ClsPr/OLP (Close Price to Original Listing Price Ratio): Declined from 93.42% to 84.59%, showcasing more substantial price cuts to close deals.
- Price Per Square Foot (Pr$/SqFt): Fell from $76.34 to $54.58, reinforcing lower property valuations per unit area.
Year Built
- Newest Property: Shifted from 2009 in 2009 to 2005 in 2010, indicating fewer brand-new constructions entering the market.
- Oldest Property: Dropped back to 1953 in 2010 from 1975 in 2009, introducing older housing inventory.
- Average Year Built: Declined from 1997 to 1988, emphasizing sales of older properties.
- Median Year Built: Held steady, with a slight decrease from 2000 in 2009 to 1987 in 2010, highlighting the prominence of mid-aged homes.
Key Trends
- Affordability Focus: The steep drop in average and median prices, along with lower price per square foot, signaled a pivot toward an accessible housing market.
- Market Softening: The dramatic rise in average DOM and diminished close-to-list price ratios indicate a slowing market with cautious demand.
- Smaller Homes with Smaller Lots: Reduced square footage and acreage suggest streamlined housing options, focusing on essential needs and affordability.
- Older Inventory: The inclusion of older homes reflects a shifting inventory composition catering to more value-focused buyers.
The 2010 market emphasized affordability and reshaped dynamics, balancing ultra-competitive low-end options with a pullback in luxury offerings and a slower overall pace amidst recovering buyer confidence.
Summary of Real Estate Market Analysis for Blue Ridge, TX in 2010
The 2010 real estate market in Blue Ridge, TX emphasized affordability, negotiation, and adaptation. Home-Buyers benefited from significantly reduced prices and historically low mortgage rates, fostering opportunities for first-time homeowners and investors. Home-Sellers, however, faced challenges with slower sales cycles and greater price reductions being key to closing deals.
The market showcased polarization, with ultra-affordable properties gaining traction while luxury options experienced tempered demand. Meanwhile, smaller homes and older inventory dominated the landscape, catering to value-conscious buyers seeking practicality. Overall, the year marked a re-calibration in Blue Ridge’s market dynamics, offering opportunities for those willing to align with shifting economic realities.
Why Statistics Data is Important
Understanding past market data is essential for making informed decisions in today’s real estate landscape. Historical statistics provide a foundational perspective on trends, aiding in fair pricing and negotiation.
Unlock Exceptional Service!
Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.
Oleg Sedletsky REALTOR® in Blue Ridge, Texas. Call/Text 214.940.8149
Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.
I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Blue Ridge, TX and other locations in the vibrant Dallas-Fort Worth area!
My commitment to ongoing professional development means I’m always enhancing my skills to serve you better. You can count on me as your trusted expert throughout your real estate journey. Plus, I’m fluent in English, Ukrainian, and Russian and ready to assist you every step of the way!
It’s All About You and Your Real Estate Dreams!
My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals and turn your dreams into reality!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Blue Ridge, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.
Contact me today for all your real estate needs in Blue Ridge, Texas! Call/text 214-940-8149
Discover Yearly Real Estate Market Trends for Blue Ridge, TX
2003-2010
Blue Ridge, TX Real Estate Market in 2003
Blue Ridge, TX Real Estate Market in 2004
Blue Ridge, TX Real Estate Market in 2005
Blue Ridge, TX Real Estate Market in 2006
Blue Ridge, TX Real Estate Market in 2007
Blue Ridge, TX Real Estate Market in 2008
2011-2020
Blue Ridge, TX Real Estate Market in 2011
Blue Ridge, TX Real Estate Market in 2012
Blue Ridge, TX Real Estate Market in 2013
Blue Ridge, TX Real Estate Market in 2014
Blue Ridge, TX Real Estate Market in 2015
Blue Ridge, TX Real Estate Market in 2016
Blue Ridge, TX Real Estate Market in 2017
Blue Ridge, TX Real Estate Market in 2018
This market analysis is intended solely for educational purposes. This market analysis is based on data sourced from NTREIS, Inc. This analysis is exclusively focused on single-family homes and does not account for other property types. The total number of real estate transactions within the specified period and location may vary. Data accuracy cannot be guaranteed due to potential input errors made by NTREIS users. This market analysis does not account for all new construction home sales. If you need detailed information about recorded property sales or other public records, please contact the appropriate city or county office.
Blue Ridge, TX Real Estate: 2009 Analysis of the Single-Family Residential Housing Market
The 2009 real estate market in Blue Ridge, TX demonstrated a year of recovery and growth, as housing dynamics shifted toward stability. With 17 homes sold, this marked an increase in transaction volume compared to 2008, indicating renewed buyer activity. Pricing trends, property features, and improved market efficiency are key highlights of the year’s performance.
Key Takeaways and Trends from Blue Ridge’s 2009 Real Estate Market
Pricing Range: The 2009 market saw an increase in minimum pricing ($52,000 from $20,000), while maximum pricing settled to $380,000. Rising averages and medians emphasize greater demand and overall market strength.
Market Efficiency: With average DOM reduced to 53 days and higher close-to-list ratios, the market demonstrated efficiency and renewed competitiveness, favoring sellers.
Unique Outliers: Despite fewer ultra-large homes, properties up to 41 acres and nearly 3,400 sq. ft. remained attractive to occasional niche buyers, ensuring diverse options for varying preferences.
Total Homes Closed
The market closed 17 residential single-family home transactions in 2009, up from 15 in 2008. This reflects growing buyer interest spurred by competitive pricing, quicker turnover, and enhanced market conditions.
Property Pricing Insights
2009 showcased steady growth in pricing across all metrics compared to the prior year:
- Minimum Price: $52,000 (up from $20,000 in 2008, showcasing fewer budget-friendly options).
- Maximum Price: $380,000 (down slightly from $410,000, reflecting stabilizing high-end demand).
- Average Price: $160,508 (a robust increase from $124,527, signaling greater market confidence).
- Median Price: $152,000 (a significant rise from $92,850, suggesting stronger mid-market activity).
The upward trend in average and median prices indicates growing property values and a competitive market environment.
Property Size and Features
Homes closed in 2009 catered to diverse buyer needs, with notable increases in property size:
Bedrooms: Properties offered 2 to 4 bedrooms, with an average of 3 bedrooms, consistent across years.
Bathrooms: Ranged from 2 to 4, with an average of 2 bathrooms, providing functionality for families.
Square Footage:
Minimum Size: 1,184 sq. ft. (up from 1,052 sq. ft., favoring slightly larger starter homes).
Maximum Size: 3,400 sq. ft. (a slight reduction from 3,500 sq. ft., signaling fewer ultra-large homes).
Average Size: 1,973 sq. ft. (up from 1,682 sq. ft., showcasing higher demand for spacious living).
Median Size: 2,018 sq. ft. (an increase from 1,426 sq. ft., highlighting a preference for larger family homes).
The emphasis on larger properties reflects buyers’ needs for both comfort and long-term value.
Market Dynamics
Market performance improved significantly, with quicker sales and firmer pricing:
Days on Market (DOM):
Range: 49 to 146 days (down from 2 to 271 days, with tighter turnaround for listings).
Average DOM: 53 days (a sharp drop from 91 days in 2008, showcasing faster transactions).
ClsPr/LstPr Ratio: Averaged 95.69%, up from 91.38%, indicating closer alignment with listing prices.
ClsPr/OLP Ratio: Averaged 93.42%, an increase from 85.09%, reflecting fewer price reductions needed to sell.
Price Per Square Foot (Pr$/SqFt): Averaged $76.34, an increase from $63.73, indicating improved value per unit area.
The shorter sales cycle and enhanced closing ratios highlighted a seller-friendly shift in the market.
Insights into the Most Expensive Blue Ridge, TX Property Sold in 2009
The highest-priced transaction in 2009 demonstrated premium appeal and exclusivity:
Price: $380,000
Bedrooms: 4
Bathrooms: 4 (3 full, 1 half)
Square Footage: 3,100 sq. ft.
Price Per SqFt: $122.58
Lot Size: 16 acres
Days on Market (DOM): 78 days
ClsPr/LstPr (Close Price to List Price Ratio): 100.00%
ClsPr/OLP (Close Price to Original Listing Price Ratio): 100.00%
Year Built: 1997
This luxurious home offered ample living space and sprawling land, reflecting the resilience of the high-end market segment.
Economic context
The economic environment in Blue Ridge, TX during 2009 exhibited notable shifts that influenced the local real estate market.
Average Electricity Costs in Dallas-Fort Worth in 2009
The average electricity price in 2009 remained steady at $0.13 per kilowatt-hour, providing homeowners with consistent energy costs compared to previous years. This affordability had a positive impact on household budgets, especially for buyers investing in larger properties, where utility usage typically scales with square footage.
Texas Average Gas Prices in 2009
The average gas price in 2009 dropped significantly to $2.21 per gallon, providing much-needed relief for homeowners after higher prices in previous years. This decrease positively impacted commuting costs, especially for families relying on personal vehicles for daily transportation. Lower fuel expenses allowed homeowners to allocate more of their budgets toward property investments or other household needs, while also increasing the appeal of suburban and larger lot homes further from urban centers.
Average 30-Year Fixed Mortgage Rate in 2009
The average 30-year fixed mortgage rate in 2009 fell to 5.38%, significantly enhancing affordability for homebuyers compared to previous years. This decrease allowed buyers to secure lower monthly payments, making larger or more expensive homes within reach for many. The reduced mortgage rate also attracted first-time homebuyers and investors eager to capitalize on favorable lending conditions. For anyone considering homeownership, getting pre-approved for financing was a crucial first step toward taking advantage of this opportunity.
Curious about today’s mortgage rates and the home you can comfortably afford?
Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.
Summary of Differences Between 2008 and 2009 Real Estate Data for Blue Ridge, TX
A comparison of the real estate market for Blue Ridge, TX in 2008 and 2009 reveals several noteworthy changes and trends:
Property Pricing Insights
- Minimum Current Price: Increased significantly from $20,000 in 2008 to $52,000 in 2009, suggesting a reduction in the availability of lower-end properties.
- Maximum Current Price: Decreased from $410,000 in 2008 to $380,000 in 2009, indicating a slight cooling in the luxury segment.
- Average Price: Rose substantially from $124,527 to $160,508, reflecting an overall increase in market value.
- Median Price: Increased from $92,850 to $152,000, showcasing stronger mid-level market performance.
Property Features
- Bedrooms and Bathrooms: No significant change, with properties continuing to offer 2 to 4 bedrooms and an average of 2 bathrooms.
- Square Footage:
- Minimum Size: Increased from 1,052 sq. ft. in 2008 to 1,184 sq. ft. in 2009, indicating larger entry-level homes.
- Average Size: Increased considerably from 1,682 sq. ft. to 1,973 sq. ft., pointing to a preference for more spacious homes.
- Median Size: Increased from 1,426 sq. ft. to 2,018 sq. ft., reinforcing a trend toward larger properties.
- Maximum Size: Declined slightly from 3,500 sq. ft. to 3,400 sq. ft., showing fewer ultra-large properties in the market.
Lot Size Area
- Minimum Lot Size: Increased slightly to 0.051 acres from 0.000 in 2008, showing more limited availability of very small lots.
- Maximum Lot Size: Increased significantly from 16.480 acres in 2008 to 41.000 acres in 2009, indicating the presence of larger properties for buyers needing extensive acreage.
- Average Lot Size: Rose from 3.964 acres to 6.567 acres, further suggesting an availability of larger lot homes.
Market Dynamics
- Days on Market (DOM):
- Minimum DOM: Increased from 2 days in 2008 to 49 days in 2009, reflecting slower turnaround for the fastest sales.
- Average DOM: Improved, dropping from 91 days to 53 days, suggesting a quicker overall market.
- Maximum DOM: Decreased sharply from 271 days in 2008 to 146 days, showing reduced stagnancy in the market.
- ClsPr/LstPr (Close Price to List Price Ratio): Improved from 91.38% to 95.69%, indicating sellers received closer to their listing prices.
- ClsPr/OLP (Close Price to Original Listing Price Ratio): Rose from 85.09% to 93.42%, pointing to decreased need for price cuts to attract buyers.
- Price Per Square Foot: Increased from $63.73 in 2008 to $76.34 in 2009, reinforcing an increase in property values per unit area.
Year Built
- Newest Property: Remained consistent as 2009 in 2009, highlighting refreshed inventory with recently constructed homes.
- Oldest Property: Increased from 1930 in 2008 to 1975 in 2009, reflecting a disappearance of older homes inventory for sale.
- Average Year Built: Increased from 1975 to 1997, showcasing newer properties becoming more prominent in the market.
- Median Year Built: Increased from 1969 to 2000, accentuating a shift toward more modern homes being sold.
Key Trends
- Market Growth: The increase in median and average prices, along with improved price ratios, indicates stronger buyer confidence and higher property values.
- Larger Homes and Lots: The increase in average and median square footage and lot sizes points to an expanding preference for spacious properties.
- Improved Efficiency: Reduced average and maximum DOM highlights quicker closures, showcasing a more active and dynamic marketplace than in 2008.
- Newer Properties: The shift toward inventory dominated by newer homes reflects value-added listings aimed at attracting buyers willing to invest in more modern amenities.
Overall, the 2009 real estate market in Blue Ridge, TX reflected stabilized growth, larger property options, and an uplift in buyer demand, creating opportunities for both sellers and investors.
Summary of Real Estate Market Analysis for Blue Ridge, TX in 2009
The 2009 real estate market in Blue Ridge, TX showcased a year of recovery and growth, as it rebounded from previous challenges to offer stronger opportunities for buyers and sellers alike. With rising average and median prices, larger homes, and more efficient market dynamics, the year reflected a shift toward stability and value.
Home-Buyers benefited from favorable mortgage rates and steady utility costs, which enhanced affordability and purchasing power. Meanwhile, Home-Sellers experienced quicker transactions and improved close-to-list price ratios, indicating stronger demand. The growing focus on newer, more spacious homes highlighted changing buyer preferences, positioning Blue Ridge’s market as both dynamic and resilient. With a balanced landscape of affordability and luxury, 2009 presented a wealth of opportunities for all participants in the real estate market.
Why Statistics Data is Important
Understanding past market data is essential for making informed decisions in today’s real estate landscape. Historical statistics provide a foundational perspective on trends, aiding in fair pricing and negotiation.
Unlock Exceptional Service!
Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.
Oleg Sedletsky REALTOR® in Blue Ridge, Texas. Call/Text 214.940.8149
Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.
I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Blue Ridge, TX and other locations in the vibrant Dallas-Fort Worth area!
My commitment to ongoing professional development means I’m always enhancing my skills to serve you better. You can count on me as your trusted expert throughout your real estate journey. Plus, I’m fluent in English, Ukrainian, and Russian and ready to assist you every step of the way!
It’s All About You and Your Real Estate Dreams!
My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals and turn your dreams into reality!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Blue Ridge, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.
Contact me today for all your real estate needs in Blue Ridge, Texas! Call/text 214-940-8149
Discover Yearly Real Estate Market Trends for Blue Ridge, TX
2003-2010
Blue Ridge, TX Real Estate Market in 2003
Blue Ridge, TX Real Estate Market in 2004
Blue Ridge, TX Real Estate Market in 2005
Blue Ridge, TX Real Estate Market in 2006
Blue Ridge, TX Real Estate Market in 2007
Blue Ridge, TX Real Estate Market in 2008
2011-2020
Blue Ridge, TX Real Estate Market in 2011
Blue Ridge, TX Real Estate Market in 2012
Blue Ridge, TX Real Estate Market in 2013
Blue Ridge, TX Real Estate Market in 2014
Blue Ridge, TX Real Estate Market in 2015
Blue Ridge, TX Real Estate Market in 2016
Blue Ridge, TX Real Estate Market in 2017
Blue Ridge, TX Real Estate Market in 2018
This market analysis is intended solely for educational purposes. This market analysis is based on data sourced from NTREIS, Inc. This analysis is exclusively focused on single-family homes and does not account for other property types. The total number of real estate transactions within the specified period and location may vary. Data accuracy cannot be guaranteed due to potential input errors made by NTREIS users. This market analysis does not account for all new construction home sales. If you need detailed information about recorded property sales or other public records, please contact the appropriate city or county office.
Blue Ridge, TX Real Estate: 2008 Analysis of the Single-Family Residential Housing Market
The real estate market for Blue Ridge, TX in 2008 reflected broader economic challenges, but it still provided opportunities for buyers and sellers alike. With 15 closed sales, the market revealed noteworthy shifts in pricing, property features, and buyer-seller dynamics. This analysis highlights the year’s key metrics and trends.
Key Takeaways and Trends from Blue Ridge’s 2008 Real Estate Market
Pricing Range: The pricing highlighted affordability at the lower end ($20,000) and strength in the luxury market ($410,000). Declines in median pricing indicated buyer cautiousness.
Market Efficiency: Sales occurred more quickly, with average DOM dropping to 91 days from 121 days in 2007. However, reduced ClsPr/LstPr and ClsPr/OLP ratios reflected more negotiation in buyer-driven transactions.
Unique Outliers: The market still offered unique properties, including expansive lots up to 16.480 acres and homes as spacious as 3,500 sq. ft. These outliers continued to attract selective buyers.
Total Homes Closed
The market saw 15 residential single-family homes sold in 2008, a notable reduction from the 23 homes sold in 2007. This decline reflects a slower market cycle but doesn’t overshadow the valuable insights uncovered in pricing and property composition.
Property Pricing Insights
Pricing in 2008 showcased both diversity and challenge:
- Minimum Current Price: $20,000 (down from $35,000 in 2007, indicating affordability for entry-level buyers).
- Maximum Current Price: $410,000 (an increase from $359,000, representing a robust luxury segment).
- Average Current Price: $124,527 (a slight increase from $122,813 in 2007, showing pricing stability).
- Median Current Price: $92,850 (down from $109,000, pointing to more competition for mid-priced homes).
The contrast in pricing metrics highlights affordability for some buyers while premium offerings at the top end persisted.
Property Size and Features
The market offered a wide range of options:
Bedrooms: Homes ranged from 2 to 4 bedrooms, with an average of 3 bedrooms, consistent with 2007.
Bathrooms: Count ranged from 1 to 4, with an average of 2 bathrooms, offering functional layouts for families.
Square Footage:
Minimum Size: 1,052 sq. ft. (up from 912 sq. ft., suggesting slightly larger homes at the low-end).
Maximum Size: 3,500 sq. ft. (down from 3,935 sq. ft., reflecting fewer ultra-large luxury properties).
Average Size: 1,682 sq. ft. (a slight decrease from 1,719 sq. ft., consistent with broader trends).
Property sizes continued to meet the needs of a variety of buyers, despite minor decreases on average.
Market Dynamics
The market’s dynamics revealed key trends in buyer behavior and seller expectations:
Days on Market (DOM): Ranged from 2 to 271 days, with an average of 91 days, marking improved sales efficiency compared to 121 days in 2007.
ClsPr/LstPr Ratio: Averaged 91.38%, a decrease from 97.90% in the previous year, indicating more negotiation on listed prices.
ClsPr/OLP Ratio: Averaged 85.09%, lower than 92.46% in 2007, showing greater seller flexibility on original asking prices.
Price Per Square Foot (Pr$/SqFt): Averaged $63.73, a notable drop from $72.47, reflecting decreasing buyer willingness to pay premium rates per area.
The shorter DOM and reduced pricing ratios highlight a buyer-driven market prioritizing value and affordability.
Insights into the Most Expensive Blue Ridge, TX Property Sold in 2008
The standout property sold in 2008 was a new construction home that demonstrated luxury and exclusivity:
Price: $410,000
Bedrooms: 4
Bathrooms: 4 (2 full, 2 half)
Square Footage: 3,500 sq. ft.
Price Per SqFt: $117.14
Lot Size: 5.088 acres
Days on Market (DOM): 56 days
ClsPr/LstPr (Close Price to List Price Ratio): 93.18%
ClsPr/OLP (Close Price to Original Listing Price Ratio): 93.18%
Year Built: 2008
This property vividly showcases the high-end opportunities available in Blue Ridge’s market, balancing modern construction and an expansive setting for refined living.
Economic context
The economic environment in Blue Ridge, TX during 2008 exhibited notable shifts that influenced the local real estate market.
Average Electricity Costs in Dallas-Fort Worth in 2008
The average electricity cost in 2008 was $0.14 per kilowatt hour, marking a slight increase from the previous year. For homeowners, this rise directly affected monthly budgets, particularly for larger homes or those with energy-intensive appliances and systems. Understanding this cost became increasingly crucial for buyers as they evaluated properties with energy efficiency in mind. With utility expenses being a significant component of long-term living costs, features like modern insulation, energy-efficient lighting, and updated HVAC systems gained importance, making electricity prices a key factor in homeownership decisions.
Texas Average Gas Prices in 2008
The average gas price in 2008 was $3.12 per gallon, representing a noticeable increase from the previous year. This higher cost directly impacted homeowners, particularly those living farther from work or urban hubs. For families relying on vehicles for daily commuting, errands, and school runs, gas prices became a significant portion of household budgets. Consequently, buyers placed greater importance on properties with close proximity to essential services, schools, and workplaces to reduce fuel expenses. The increase also underscored the growing appeal of fuel-efficient vehicles and alternative transportation options for managing long-term living costs.
Average 30-Year Fixed Mortgage Rate in 2008
The average 30-year fixed mortgage rate in 2008 stood at 6.23%, offering slightly improved affordability compared to the prior year. This rate played a significant role in homebuyers’ purchasing power, directly impacting monthly mortgage payments and the overall cost of homeownership. With a challenging real estate market incentivizing buyers to act decisively, securing this favorable rate was essential for maximizing their budget. For those considering entering the market, the first step to ensuring success was getting pre-approved for a mortgage.
Curious about today’s mortgage rates and the home you can comfortably afford?
Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.
Summary of Differences Between 2007 and 2008 Real Estate Data for Blue Ridge, TX
A comparison of the real estate markets in Blue Ridge, TX for 2007 and 2008 reveals notable shifts and trends:
Property Pricing Insights
- The minimum current price decreased significantly from $35,000 in 2007 to $20,000 in 2008, indicating more affordable entry-level options.
- The maximum current price increased from $359,000 in 2007 to $410,000 in 2008, reflecting a stronger high-end market.
- The average price saw a slight increase, from $122,813 in 2007 to $124,527 in 2008, suggesting market stability.
- The median price dropped substantially, from $109,000 in 2007 to $92,850 in 2008, signaling market softness among mid-range properties.
Property Features
- There were no changes in the range of bedrooms (2 to 4) or bathrooms (1 to 4).
- The minimum square footage increased from 912 sq. ft. in 2007 to 1,052 sq. ft. in 2008, reflecting a shift toward larger entry-level homes.
- The maximum square footage declined slightly from 3,935 sq. ft. to 3,500 sq. ft., signaling fewer oversized properties.
- The average square footage decreased slightly from 1,719 sq. ft. in 2007 to 1,682 sq. ft. in 2008, while the median size dropped from 1,492 sq. ft. to 1,426 sq. ft., showing a trend toward slightly smaller homes in general.
Lot Size Area
- The maximum lot size contracted from 25.000 acres in 2007 to 16.480 acres in 2008, limiting the availability of expansive properties.
- The average lot size area dropped from 4.849 acres in 2007 to 3.964 acres in 2008, with a similar trend reflected in the median lot size, decreasing from 1.000 acres to 1.106 acres.
Market Dynamics
- The average DOM (Days on Market) improved substantially, dropping from 121 days in 2007 to 91 days in 2008, reflecting faster sales activity.
- The range of DOM, however, widened, with a shorter minimum DOM (from 2 days in both years) and a longer maximum DOM (from 318 days in 2007 to 271 days in 2008).
- The ClsPr/LstPr ratio dropped from 97.90% in 2007 to 91.38% in 2008, signaling greater buyer negotiation on list price.
- The ClsPr/OLP ratio fell from 92.46% in 2007 to 85.09% in 2008, indicating increased seller flexibility on originally listed prices.
- The price per square foot (Pr$/SqFt) decreased from $72.47 in 2007 to $63.73 in 2008, reflecting a downturn in property value-per-area metrics.
Year Built
- The minimum year built saw an earlier range from 1910 in 2007 to 1930 in 2008, highlighting slightly newer homes in inventory.
- The average year built decreased from 1983 to 1975, indicating older homes entering or dominating the market inventory.
- The latest maximum year built remained unchanged (2007 in 2007 vs. 2008 in 2008), showing the presence of new construction.
Key Takeaways
The 2008 market displayed increased affordability at the entry-level, high-end market strength with record-breaking maximum pricing, and efficiency improvements in time-to-sale (shorter DOM). However, metrics like price per square foot, close-to-list ratios, and median property size or price suggested a market coping with reduced demand and growing buyer cautiousness. These trends showcase a shift toward negotiation-driven transactions and the impacts of an evolving economic landscape on market activity.
Summary of Real Estate Market Analysis for Blue Ridge, TX in 2008
The 2008 real estate market in Blue Ridge, TX mirrored the challenges of the broader economic environment, yet it offered unique opportunities for both homebuyers and sellers. With fewer homes sold, the market saw significant pricing adjustments that reduced entry barriers for budget-conscious buyers while maintaining high-end property appeal. Sellers embraced negotiation, evident in lowered close-to-list ratios, enabling more transactions to close despite soft demand. Faster sales cycles reflected active interest in the market but often came at the expense of adjusted pricing strategies.
Despite these shifts, the market remained diverse, catering to a range of preferences from affordable options to luxurious estates. Economic factors, like rising utility and gas prices, played a vital role in shaping buyer priorities, emphasizing proximity to amenities and energy efficiency. For those ready to adapt to evolving dynamics, the 2008 market provided opportunities to maximize investment potential while navigating a competitive and value-driven real estate environment.
Why Statistics Data is Important
Understanding past market data is essential for making informed decisions in today’s real estate landscape. Historical statistics provide a foundational perspective on trends, aiding in fair pricing and negotiation.
Unlock Exceptional Service!
Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.
Oleg Sedletsky REALTOR® in Blue Ridge, Texas. Call/Text 214.940.8149
Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.
I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Blue Ridge, TX and other locations in the vibrant Dallas-Fort Worth area!
My commitment to ongoing professional development means I’m always enhancing my skills to serve you better. You can count on me as your trusted expert throughout your real estate journey. Plus, I’m fluent in English, Ukrainian, and Russian and ready to assist you every step of the way!
It’s All About You and Your Real Estate Dreams!
My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals and turn your dreams into reality!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Blue Ridge, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.
Contact me today for all your real estate needs in Blue Ridge, Texas! Call/text 214-940-8149
Discover Yearly Real Estate Market Trends for Blue Ridge, TX
2003-2010
Blue Ridge, TX Real Estate Market in 2003
Blue Ridge, TX Real Estate Market in 2004
Blue Ridge, TX Real Estate Market in 2005
Blue Ridge, TX Real Estate Market in 2006
Blue Ridge, TX Real Estate Market in 2007
Blue Ridge, TX Real Estate Market in 2008
2011-2020
Blue Ridge, TX Real Estate Market in 2011
Blue Ridge, TX Real Estate Market in 2012
Blue Ridge, TX Real Estate Market in 2013
Blue Ridge, TX Real Estate Market in 2014
Blue Ridge, TX Real Estate Market in 2015
Blue Ridge, TX Real Estate Market in 2016
Blue Ridge, TX Real Estate Market in 2017
Blue Ridge, TX Real Estate Market in 2018
This market analysis is intended solely for educational purposes. This market analysis is based on data sourced from NTREIS, Inc. This analysis is exclusively focused on single-family homes and does not account for other property types. The total number of real estate transactions within the specified period and location may vary. Data accuracy cannot be guaranteed due to potential input errors made by NTREIS users. This market analysis does not account for all new construction home sales. If you need detailed information about recorded property sales or other public records, please contact the appropriate city or county office.
Blue Ridge, TX Real Estate: 2007 Analysis of the Single-Family Residential Housing Market
The year 2007 marked an engaging period for the real estate market in Blue Ridge, TX. The market showcased varied pricing, diverse property sizes, and fluctuating market dynamics. This analysis presents key insights into the year’s real estate performance, highlighting major trends and takeaways.
Key Takeaways and Trends from Blue Ridge’s 2007 Real Estate Market
Pricing Range: From $35,000 to $359,000, pricing displayed increased opportunities for both entry-level buyers and premium purchasers.
Market Efficiency: The average DOM increased to 121 days in 2007 from 80 days in 2006, suggesting a slower pace in the market despite higher sales prices.
Unique Outliers: Properties with expansive lot sizes (up to 25 acres) and large square footage (up to 3,935 sq. ft.) represented unique opportunities, appealing to niche audiences.
Total Homes Closed
A total of 23 homes were closed in Blue Ridge, TX in 2007, slightly fewer than in 2006 (24 homes), underscoring a stable yet slightly decelerated market activity.
Property Pricing Insights
The property pricing data for 2007 reflected a robust market with a significant range in close prices:
- Minimum Close Price: $35,000
- Maximum Close Price: $359,000
- Average Close Price: $122,813
- Median Close Price: $109,000
The market demonstrated a rise in both minimum and maximum price points compared to 2006, indicating increased activity in both the entry-level and high-end segments.
Property Size and Features
The diversity in property features highlighted the market’s range of offerings:
- Bedrooms: Ranged between 2 and 4, with an average of 3 bedrooms.
- Bathrooms: Varied from 1 to 4, averaging 2 full baths.
- Square Footage: The smallest property measured 912 sq. ft., while the largest spanned 3,935 sq. ft. The average property size was 1,719 sq. ft., showing an increase from the previous year.
This diversity reflects the market’s capacity to cater to buyers seeking both smaller, budget-friendly homes and spacious, luxurious properties.
Market Dynamics
Analyzing market performance metrics reveals trends in buyer behavior and time-to-sale:
- Days on Market (DOM): Homes spent between 2 and 318 days on the market, with an average of 121 days.
- ClsPr/LstPr (Close Price to List Price Ratio): Averaged 97.90%, reflecting strong alignment between list and close prices.
- ClsPr/OLP (Close Price to Original List Price Ratio): Averaged 92.46%, suggesting flexibility in pricing negotiations.
- Price Per Square Foot (Pr$/SqFt): Averaged $72.47, a notable increase from 2006’s $59.23.
Homebuyers appeared slightly more willing to meet seller expectations, with improved ClsPr/LstPr ratios, while listing durations indicated more negotiation and inventory movement.
Insights into the Most Expensive Blue Ridge, TX Property Sold in 2007
The most expensive property sold in 2007 stood out as an impressive example of the market’s high-end offerings:
Beds: 4
Baths: 4 (3 full, 1 half)
Square Footage: 3,935 sq. ft.
Lot Size: 18.000 acres
Close Price: $359,000
Price per SqFt: $91.23
DOM: 56 days
ClsPr/LstPr: 100.00%
ClsPr/OLP: 100.00%
Year Built: 2002
This property emphasized the appeal of spacious, modern homes with premium features, as it sold quickly at full listed price!
Economic context
The economic environment in Blue Ridge, TX during 2007 exhibited notable shifts that influenced the local real estate market.
Average Electricity Costs in Dallas-Fort Worth in 2007
The average electricity cost for homeowners in 2007 was $0.13 per kilowatt hour, reflecting a consistent and manageable utility expense for most households. For property owners, this rate played a critical role in budgeting monthly expenses, especially for homes with larger square footage or energy-intensive systems.
Texas Average Gas Prices in 2007
The average gas price in 2007 was $2.66 per gallon, reflecting moderate fuel costs that directly impacted homeowners’ commuting and overall living budgets. For families residing further from urban centers, fuel expenses played a significant role in monthly financial planning, especially in areas where public transportation was limited. For property seekers, proximity to workplaces or amenities became increasingly important, as gas prices could influence long-term commuting costs and savings.
Average 30-Year Fixed Mortgage Rate in 2007
The average 30-year fixed mortgage rate in 2007 stood at 6.40%, presenting a moderate interest environment for homebuyers. This rate significantly influenced affordability, with monthly payments directly tied to long-term budgets for families and individual buyers alike. For many, securing a favorable mortgage rate was key to maximizing purchasing power and achieving long-term financial goals
Curious about today’s mortgage rates and the home you can comfortably afford?
Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.
Summary of Differences Between 2006 and 2007 Real Estate Data for Blue Ridge, TX
Comparing the real estate market data for Blue Ridge, TX from 2006 to 2007 reveals important shifts and trends:
-
Property Pricing Insights
- The minimum close price rose from $27,500 in 2006 to $35,000 in 2007, pointing to an increase in the baseline property values.
- The maximum close price climbed from $326,000 in 2006 to $359,000 in 2007, indicating a higher top-end market.
- The average close price increased significantly from $99,380 in 2006 to $122,813 in 2007, reflecting a stronger overall market.
- The median close price also rose from $80,500 in 2006 to $109,000 in 2007, further confirming a general pricing uptick.
-
Property Size and Features
- While the bedroom range stayed consistent at 2-4, the bathroom maximum grew from 3 to 4, accommodating more luxurious layouts.
- The minimum square footage dropped from 960 sq. ft. in 2006 to 912 sq. ft. in 2007, signaling slightly smaller lower-end homes.
- The maximum square footage increased from 2,564 sq. ft. in 2006 to 3,935 sq. ft. in 2007, reflecting larger high-end properties.
- Average square footage grew from 1,644 sq. ft. to 1,719 sq. ft., showcasing a shift towards larger homes overall.
-
Market Dynamics
- A longer average DOM in 2007 (121 days) compared to 80 days in 2006 indicates slower-moving inventory. However, DOM ranged more widely in 2007 (2-318 days compared to 4-241 days in 2006).
- The average price per square foot (Pr$/SqFt) increased substantially, from $59.23 in 2006 to $72.47 in 2007, reflecting higher buyer investments.
- ClsPr/LstPr rose slightly from 96.59% in 2006 to 97.90% in 2007, showing more willingness from buyers to meet sellers’ listed prices.
- ClsPr/OLP dipped from 93.98% in 2006 to 92.46% in 2007, suggesting sellers continued to accept lower initial offers but maintained stronger list-to-close ratios.
-
Lot Size and Year Built
- The maximum lot size expanded from 16.000 acres in 2006 to 25.000 acres in 2007, providing buyers more expansive options.
- The minimum year built decreased from 1935 in 2006 to 1910 in 2007, reflecting potentially older inventory entering the market.
- The maximum year built advanced from 2005 to 2007, indicating ongoing new construction.
- The average year built dipped slightly from 1987 to 1983, hinting at a larger proportion of older properties in the 2007 market.
Overall, the 2007 market displayed higher property prices, larger homes, and greater diversity in lot sizes, at the cost of a longer sales cycle. The trends emphasize a shift towards both higher-end and more diverse market offerings to match an evolving buyer demographic.
Summary of Real Estate Market Analysis for Blue Ridge, TX in 2007
The 2007 real estate market in Blue Ridge, TX showcased a blend of growth, diversity, and evolving buyer and seller dynamics. With a wider pricing range, larger homes, and an increase in property values, the market highlighted opportunities for homebuyers seeking both entry-level affordability and high-end luxury. Sellers enjoyed higher alignment with list prices, although properties took slightly longer to sell on average. Economic factors, such as moderate interest rates and stable utility costs, provided a supportive environment for homeownership.
Overall, the market exemplified resilience and adaptability, offering a wealth of opportunities for both buyers and sellers. From expansive estates to budget-friendly homes, Blue Ridge’s real estate landscape in 2007 catered to a broad and varied audience, ensuring a balanced yet competitive marketplace.
Why Statistics Data is Important
Understanding past market data is essential for making informed decisions in today’s real estate landscape. Historical statistics provide a foundational perspective on trends, aiding in fair pricing and negotiation.
Unlock Exceptional Service!
Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.
Oleg Sedletsky REALTOR® in Blue Ridge, Texas. Call/Text 214.940.8149
Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.
I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Blue Ridge, TX and other locations in the vibrant Dallas-Fort Worth area!
My commitment to ongoing professional development means I’m always enhancing my skills to serve you better. You can count on me as your trusted expert throughout your real estate journey. Plus, I’m fluent in English, Ukrainian, and Russian and ready to assist you every step of the way!
It’s All About You and Your Real Estate Dreams!
My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals and turn your dreams into reality!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Blue Ridge, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.
Contact me today for all your real estate needs in Blue Ridge, Texas! Call/text 214-940-8149
Discover Yearly Real Estate Market Trends for Blue Ridge, TX
2003-2010
Blue Ridge, TX Real Estate Market in 2003
Blue Ridge, TX Real Estate Market in 2004
Blue Ridge, TX Real Estate Market in 2005
Blue Ridge, TX Real Estate Market in 2006
Blue Ridge, TX Real Estate Market in 2007
Blue Ridge, TX Real Estate Market in 2008
2011-2020
Blue Ridge, TX Real Estate Market in 2011
Blue Ridge, TX Real Estate Market in 2012
Blue Ridge, TX Real Estate Market in 2013
Blue Ridge, TX Real Estate Market in 2014
Blue Ridge, TX Real Estate Market in 2015
Blue Ridge, TX Real Estate Market in 2016
Blue Ridge, TX Real Estate Market in 2017
Blue Ridge, TX Real Estate Market in 2018
This market analysis is intended solely for educational purposes. This market analysis is based on data sourced from NTREIS, Inc. This analysis is exclusively focused on single-family homes and does not account for other property types. The total number of real estate transactions within the specified period and location may vary. Data accuracy cannot be guaranteed due to potential input errors made by NTREIS users. This market analysis does not account for all new construction home sales. If you need detailed information about recorded property sales or other public records, please contact the appropriate city or county office.
Blue Ridge, TX Real Estate: 2006 Analysis of the Single-Family Residential Housing Market
The real estate market in Blue Ridge, TX for 2006 offers a comprehensive snapshot of residential single-family home transactions. This analysis highlights the trends in housing prices, property features, and market performance, providing valuable insights for buyers, sellers, and real estate professionals. A year-over-year comparison with 2005 further deepens our understanding of how the market evolved during this time.
Key Takeaways and Trends from Blue Ridge’s 2006 Real Estate Market
Pricing Range: The increase in maximum pricing underscores the availability of high-end properties, while declines in average and median pricing point to broader affordability.
Market Efficiency: A shorter DOM and slightly reduced ClsPr ratios indicate quicker transactions, albeit with minor price adjustments.
Unique Outliers: The most expensive property highlighted unique attributes, including large acreage and a high price per square foot, marking it as a premium offering in a mostly mid-priced market.
Total Homes Closed
A total of 24 residential single-family homes closed in 2006, slightly fewer than the 27 homes sold in 2005. This decrease may reflect subtle shifts in market demand or inventory availability.
Property Pricing Insights
Minimum Price: $27,500 (up from $22,500 in 2005)
Maximum Price: $326,000 (up from $264,000 in 2005)
Average Price: $99,380 (down from $116,814 in 2005)
Median Price: $80,500 (down from $105,500 in 2005)
The data shows a higher price cap but lower average and median pricing, revealing potential variability in buyer preferences and sale outcomes.
Property Size and Features
The homes sold in 2006 catered to varying preferences with dimensions and features beneficial for families or individuals:
- Average Bedrooms: 3
- Average Bathrooms: 2
- Average Square Footage: 1,644 sqft
Properties ranged from a modest 960 sq. ft. to a spacious 2,564 sq. ft., offering flexibility across buyer requirements and price ranges.
Market Dynamics
Several key metrics offer insights into how properties performed and the overall health of the market during 2006:
- Average Days on Market (DOM): 80 days.
- ClsPr/LstPr Ratio (Close Price to Listing Price): 96.59%.
- ClsPr/OLP Ratio (Close Price to Original Listing Price): 93.98%.
- Average Price per Square Foot: $59.23.
Insights into the Most Expensive Blue Ridge, TX Property Sold in 2006
The most expensive property sold in 2006 had distinct features, positioning it at the top of the market.
Highlights of the Property:
Price: $326,000
Bedrooms: 3
Bathrooms: 3 (2 full, 1 half)
Square Footage: 2,224 sq. ft.
Price per Square Foot: $146.58
Lot Size: 16.000 acres
Days on Market (DOM): 71 days
ClsPr/LstPr Ratio: 93.17%
ClsPr/OLP Ratio: 93.17%
Year Built: 1998
This home featured a luxurious layout and substantial acreage, which is ideal for buyers seeking premium value.
Economic context
The economic environment in Blue Ridge, TX during 2006 exhibited notable shifts that influenced the local real estate market.
Average Electricity Costs in Dallas-Fort Worth in 2006
The electricity cost in 2006 rose to $0.13 per kilowatt hour, reflecting a modest increase from 2005. This slight uptick would have contributed marginally to household utility expenses.
Texas Average Gas Prices in 2006
The gas price averaged $2.47 per gallon, up from $2.18 in 2005. While still reasonable, this rise may have impacted transportation and home heating budgets for homeowners.
Average 30-Year Fixed Mortgage Rate in 2006
The average mortgage rate climbed to 6.47%, compared to 5.93% in 2005. This increase could have steepened financing costs for buyers.
Curious about today’s mortgage rates and the home you can comfortably afford?
Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.
Summary of Differences Between 2005 and 2006 Real Estate Data for Blue Ridge, TX
The real estate market in Blue Ridge, TX experienced several notable changes from 2005 to 2006.
Here are the key differences:
-
Pricing Trends
- The minimum close price increased significantly from $22,500 in 2005 to $27,500 in 2006, showing a possible upward trend in baseline property values.
- The maximum close price jumped from $264,000 in 2005 to $326,000 in 2006, reflecting a higher ceiling for luxury properties.
- The average price dropped from $116,814 in 2005 to $99,380 in 2006, indicating more mid-range sales relative to the previous year.
- The median price decreased from $105,500 in 2005 to $80,500 in 2006, further reinforcing the focus on moderately priced homes.
-
Property Features
- The range for bedrooms (2–4) remained consistent between both years.
- The bathrooms range also remained stable between 1 and 3 across both years.
- Average square footage decreased slightly from 1,660 sq. ft. in 2005 to 1,644 sq. ft. in 2006. This points to a small shift toward smaller homes.
- The maximum lot size slightly increased from 14.000 acres (2005) to 16.000 acres (2006), reflecting broader land size options.
-
Market Dynamics
- Average Days on Market (DOM) showed improvement, dropping from 104 days in 2005 to 80 days in 2006, indicating quicker sales.
- ClsPr/LstPr Ratio fell from 98.40% in 2005 to 96.59% in 2006, suggesting sellers accepted offers closer to listing prices in the prior year.
- ClsPr/OLP Ratio also declined from 94.85% in 2005 to 93.98% in 2006, consistent with the above trend.
- The price per square foot (Pr$/SqFt) saw a decrease from $69.43 in 2005 to $59.23 in 2006, indicating more accessible pricing per unit area.
-
Year Built Trends
- The earliest property year built rose from 1930 in 2005 to 1935 in 2006, hinting at slightly newer stock.
- The latest property year built shifted from 2004 in 2005 to 2005 in 2006, reflecting a steadiness in new construction availability.
- The average year built ticked up marginally from 1985 in 2005 to 1987 in 2006, showing an incremental modernization of inventory.
Overall, while 2006 showcased higher upper-end property values and more accessible per-square-foot pricing, the average transaction amounts and property sizes decreased slightly. The faster sales pace (reduced DOM) suggests stronger buyer activity, even as sellers negotiated lower ratios for listing and original list prices.
Summary of Real Estate Market Analysis for Blue Ridge, TX in 2006
Blue Ridge, TX’s real estate market in 2006 reflected steady demand with improved sell-through rates and lowered average pricing. Despite fewer transactions, the market catered to a wide range of buyers, balancing affordability and premium options.
Why Statistics Data is Important
Understanding past market data is essential for making informed decisions in today’s real estate landscape. Historical statistics provide a foundational perspective on trends, aiding in fair pricing and negotiation.
Unlock Exceptional Service!
Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.
Oleg Sedletsky REALTOR® in Blue Ridge, Texas. Call/Text 214.940.8149
Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.
I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Blue Ridge, TX and other locations in the vibrant Dallas-Fort Worth area!
My commitment to ongoing professional development means I’m always enhancing my skills to serve you better. You can count on me as your trusted expert throughout your real estate journey. Plus, I’m fluent in English, Ukrainian, and Russian and ready to assist you every step of the way!
It’s All About You and Your Real Estate Dreams!
My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals and turn your dreams into reality!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Blue Ridge, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.
Contact me today for all your real estate needs in Blue Ridge, Texas! Call/text 214-940-8149
Discover Yearly Real Estate Market Trends for Blue Ridge, TX
2003-2010
Blue Ridge, TX Real Estate Market in 2003
Blue Ridge, TX Real Estate Market in 2004
Blue Ridge, TX Real Estate Market in 2005
Blue Ridge, TX Real Estate Market in 2006
Blue Ridge, TX Real Estate Market in 2007
Blue Ridge, TX Real Estate Market in 2008
2011-2020
Blue Ridge, TX Real Estate Market in 2011
Blue Ridge, TX Real Estate Market in 2012
Blue Ridge, TX Real Estate Market in 2013
Blue Ridge, TX Real Estate Market in 2014
Blue Ridge, TX Real Estate Market in 2015
Blue Ridge, TX Real Estate Market in 2016
Blue Ridge, TX Real Estate Market in 2017
Blue Ridge, TX Real Estate Market in 2018
This market analysis is intended solely for educational purposes. This market analysis is based on data sourced from NTREIS, Inc. This analysis is exclusively focused on single-family homes and does not account for other property types. The total number of real estate transactions within the specified period and location may vary. Data accuracy cannot be guaranteed due to potential input errors made by NTREIS users. This market analysis does not account for all new construction home sales. If you need detailed information about recorded property sales or other public records, please contact the appropriate city or county office.