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.

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.

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 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.

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