|Units Sold||Median Price||Average Price||Inventory (in months)|
|*Year-over-year change, i.e. 2013-Q3 compared to 2014-Q3|
SOURCES: Texas Association of Realtors,
Texas A&M Real Estate Center
by BRAD ROLLINS
Resisting patterns seen elsewhere in the region and the state, the median sale price for single-family homes in the San Marcos market grew a modest 1.39 percent over the previous 12 months, according to quarterly industry statistics released on Monday.
During the third fiscal quarter concluded Sept. 31, eighty-eight San Marcos homes changed owners for a median price of $160,000, up from a median of $158,000 during the previous fiscal quarter, according to a Texas Association of Realtors statewide housing report. The tiny bump helped erase declines recorded during the first two quarters of 2014, but it was not enough to catch up with residential real estate appreciation documented in a large majority of comparable communities and in Texas a whole.
Median home price — the number at which half of all other homes sold for more money and half of all other homes sold for less — essentially marks the middle of the market. It is a more reliable benchmark of housing market performance than average home price, a measure easily skewed in smaller markets by extremes on either end of the spectrum.
In 32 of 42 real estate markets tracked by Texas A&M University’s Real Estate Center, home prices increased at steeper rates during the previous four quarters than they did in San Marcos.