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.

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.

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

1. 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.
2. Shift in Property Features: The inventory prioritized mid-sized, family-friendly homes over expansive or luxury properties.
3. Improved Market Activity: Shorter average DOM and stable closing-to-list ratios suggest a more efficient marketplace, even as activity slowed slightly.
4. 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.