If you're considering buying or selling a home in Kingsland, Texas, soon you'll want to keep reading. We’ve summarized here the housing market predictions for 2023 so you understand what to expect. The housing market is always changing, so it's important to stay up-to-date on the latest trends surrounding Kingsland, Texas, real estate. Whether you're a first-time homebuyer or an experienced seller, these predictions will prepare you for the future.
What draws buyers to Kingsland
Kingsland, TX is a great place to own property for a variety of reasons. Located on the banks of the Colorado River, this charming city offers endless opportunities for fun in the sun. Whether you enjoy swimming, kayaking, or just lounging by the water with a good book, there is something for everyone here.
In addition to being great for outdoor recreation, Kingsland, Texas, houses offer a vibrant lake lifestyle. Lake LBJ is considered one of the greatest lakes in Texas and provides endless opportunities for play and watersports. Whether you are an avid sailor looking to join the prestigious Lake LBJ Yacht Club and Marina or a thrill seeker itching to jump off its picturesque Llano Slab cliff into pristine waters, you are sure to find your perfect match in Kingsland.
Another unique aspect of Kingsland is that it plays host to local vineyards and wineries. Every summer, residents can take part in the grape harvest at Perissos Vineyards by helping out with everything from pruning vines to picking fresh grapes. So if you're looking for a peaceful escape full of adventure and fun, look no further than Kingsland! Whether you come here as a tourist or make this your permanent home, you are sure to fall in love with all that it has to offer.
Market trends
Since 2017, the Kingsland, Texas, real estate market has been characterized by volatile median list prices and a steady demand that has kept the market favoring sellers. From October 2017 through July 2020, the fluctuations in median list price were somewhat predictable, with small rises and moderate falls over the years.
The market changed drastically starting in August 2020, when the fluctuations became much more significant, with steep highs, and 5-year lows. The highest peak was seen in February 2021, with a median list price of $1,199,000, following the lowest low in September 2021 of $268,000. The median seemed to stabilize a bit from August through December 2021, staying between $300,000 to $400,000, and from March to May 2022, staying between $679,000 and $730,000. Since the latest peak of $937,000 in June 2022, the median has been steadily falling, reaching a low of $575,000 in September 2022.
There have also been fluctuations in sales activity. While the number of Kingsland, Texas, homes for sale has not exceeded 90 per month over the past five years, it stayed between 30-42 from October 2017 to July 2019. The number dropped to 24 in November 2018. It then climbed toward 50 through April 2020 before dropping rapidly to 2 in October 2020. The number stayed below 25 until February 2022, then climbed to a peak of 90 in July 2022. In September 2022, 73 homes were for sale.
As for the median days on the market, the number rarely exceeded 170 over the past five years. In fact, since the 5-year low of 13 days in January 2022, the median has stayed below 100, though it is steadily climbing, with the median in September 2022 at 71 days.
What to expect as a buyer
As a buyer, per the housing market predictions for 2023, you can expect to experience a number of challenges and opportunities. One major challenge will be finding an adequate supply of properties to meet your needs and budget. With low inventory in the area, you may find yourself having to wait for the right home to come along, which could mean a lengthy search process. However, if you are flexible in terms of location, size, and other factors, you may be able to find what you are looking for relatively quickly. Additionally, with the median days on the market steadily increasing in recent months, this is still a relatively decent timeframe within which to look. If you are willing to work hard and be patient as a buyer in the Kingsland, Texas, real estate market, there is certainly potential for success.
What to expect as a seller
Expect low inventory and high demand in 2023. This will lead to a competitive market with the potential for multiple offers on your property. However, this should not dissuade you from preparing your home or property to its best condition before listing it. Even in a hot real estate market, buyers still appreciate well-maintained properties and will be quick to make an offer when they are presented with a fine home.
The average turnaround time for listings to go under contract is currently under three months, though this may grow toward four to six as demand continues to increase. Regardless of these factors, it is still crucial to be prepared as a seller in the rapidly growing Kingsland real estate market. With strategic planning and sound advice from a trusted realtor, you stand to reap the benefits of this dynamic environment and enjoy a successful sales experience in 2023.
Kingsland is a wonderful place to live, and we are excited to see the growth that is yet to come. However, as with any market, there will be challenges for buyers and sellers. Sellers should prep their homes for sale by decluttering and making repairs as needed. They should also feel comfortable listing at comparable prices to other homes with similar amenities in order to sell quickly. Buyers should be prepared to spend time looking through inventory, as not many homes will be available at once.
When you are ready to buy or sell a home in Kingsland, reach out to one of the experienced Kingsland real estate agents at McAlister Realty for guidance throughout the real estate journey.
*Header photo courtesy of Shutterstock
