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How much does location affect Gillespie County land market values? No Seriously! Exactly how much more or less should I sell my land for? How can I be somewhat precise?
August 2nd, 2024 8:26 AM
Location, Location, Location is the popular refrain. So, let's see.
If we mine all the land closings in Gillespie County over the last 12 years, per section, and identify the median sale price of each sample, we can compare those median sale prices and see how much location matters.
Here are pictures of data pulls showing red closing dots from four sections, with samples pulled in a five mile geo-circle radius in each instance.
Southwest Gillespie: Median Sale Price: $249,375
Going counter clockwise, the market value declines -14.937%
Southeast Gillespie County: Median Sale Price $212,127
Continuing counter clockwise, the market value increases +17.85% to the Wine Road 290 Corridor.
Northeast Gillespie County: Median Sale Price $250,000
Continuing counter clockwise, the market value decreases -12.8%
Northwest Gillespie County: Median Sale Price $218,000
So, the data clearly supports the principle that location matters, and it's important to have the data to price your property, make an offer or confirm a contract price.
Posted in:
Location matters
and tagged:
geography
location
Fredericksburg
TX
Posted by Troy Sifford on August 2nd, 2024 8:26 AM
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