Data published by Four Rivers Association of Realtors (FRAR) shows median home prices in New Braunfels increased from $237,800 in March 2019 to $245,999 in March 2020—a 2.9% increase.
The median price in Comal County jumped from $292,626 to $323,900 in the same time period—a 17.5% difference.
However, active listings and closed sales dropped year-over-year for both New Braunfels and Comal County.
FRAR data shows the number of active listings dropped 35.2% in New Braunfels and fell 11.6% in Comal County.
The number of closings also dropped—decreasing 26.1% in New Braunfels and 5.4% in Comal County.
January and February of this year were both slower than March though, which could indicate that a larger impact from the coronavirus has yet to hit the housing market.
“For most of March, it was still ‘business as usual,’” said Austin Board of Realtors President Romeo Manzanilla in a news release. “Declines in listing activity and pending residential sales in March indicate that we won’t begin to see the true impact of COVID-19 on the housing market until our April report.”
New Braunfels recorded 107 closed sales in January of this year, compared to 153 in March. Comal County recorded 192 closings in January and 333 in March.
According to Yvonne Hoffmann, realtor with Reliance Residential Realty, realtors have adjusted their operations to comply with social distancing mandates and have utilized technology to show homes.
“Our local association has given [realtors] guidelines as far as the seller’s responsibility and buyer's agents responsibility on those showings, as far as what to be wearing, what to touch and what not to touch,” Hoffmann said. “What we are seeing an increase in is realtors doing virtual showings.”
Commercial real estate sales have also slowed slightly, though construction on commercial buildings has continued, according to Cory Elrod, realtor with Legacy Commercial Real Estate.
“The call volume has slowed down. I think that's to be expected. People are just trying to figure out what this all really means,” Elrod said. “We're going to go back to work, and people have got to plan where they're going to have their business.”