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2023 Q2 KERRVILLE AREA HOUSING REPORT

2023 Q2 KERRVILLE AREA HOUSING REPORT


The Kerrville area's real estate market in spring 2023 showcases a shift toward equilibrium, embodying elements of both seller and buyer influence. Once under the strong grip of sellers dictating prices and conditions, the market has found a more balanced footing. While sellers still hold some control with a rising list and sale prices, factors such as an extended average days-on-market, higher inventory (4.3 months compared to 2.4 months in 2022 Q2), and a significant 41% surge in active listings indicate an evolving buyer-friendly landscape.


This shift is notably influenced by higher interest rates, which have impacted buyer behavior. The dynamics now cater more to buyers, granting them increased options and a potentially stronger negotiating position. The heightened days-on-market and increased inventory underscore a less frantic market, offering buyers more time and choices. Despite these changes, the Kerrville area's housing market remains fundamentally robust, reflecting a balanced yet dynamic ecosystem where both sellers and buyers navigate a transformed environment.


In summary, the Kerrville area's housing market for spring 2023 presents a scene of transition. Sellers' influence, once dominant, is now counterbalanced by a more buyer-responsive landscape. Higher interest rates have played a pivotal role, shaping a market characterized by extended days-on-market, increased inventory, and a surge in active listings. This evolution provides buyers with enhanced opportunities and a recalibrated negotiating power, marking a new chapter in the Kerrville real estate narrative.


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