Average home prices increased 21.35% in New Braunfels this September compared to September 2020, when the median home sales price was $280,188.
Throughout New Braunfels, inventory remains low even as some sellers return to the market, said Yvonne Hoffmann, a Realtor with Reliance Residential Realty in New Braunfels.
During the summer, the number of months of inventory dropped to between 0.6-0.9 as demand skyrocketed and some sellers delayed listing their homes out of concern they would not be able to find a new place to live after it was sold, Hoffmann said.
In September, 233 homes were sold in New Braunfels compared to 219 sold in September 2020. The report showed there were 1.5 months of inventory in September, and the month ended with 286 active listings compared to 390 active listings in September 2020.
As inventory slowly rises, Hoffmann said the demand is still high as evidenced by the average number of days homes spend on the market. In September, homes were on the market for an average of 24 days, and the time from listing to closing was 70 days, compared to 70 and 104 days in September 2020, respectively.
New Braunfels is still in need of more homes in the $200,000-$400,000 price range, which Hoffmann said makes up the majority of home sales, but many homebuilders are still struggling with material and appliance shortages.
“The inventory is still short, so that's the biggest challenge that we have,” Hoffmann said. “As history has shown, unless there's some unknown factor, then [that pricing] is probably going to be in the foreseeable future.”
