This week in residential real estate in Georgetown, TX
October 13, 2008 at 8:26 am , by Jenel Looney
| The local economy is a living, breathing organism. The shock of headlines about the national market gave this organism the hiccups, and now it seems to be holding its breath, making us all a little dizzy. Real estate sales are very slow here in the MLS areas of GTE and GTW at the moment. While the hotsheet shows 17 sales over the past 8 days, even that low number is not an accurate picture. 7 of those sales actually took place in August and September, but were only input into the system this past week. (Bad agents, bad!) |  |
| Of course, it’s entirely possible that there are other bad agents who sold properties this past week but haven’t yet entered those sales into the MLS database. | |
| I really shouldn’t call them bad agents. They may be excellent agents, conscientious and working hard for their clients. Everyone can make mistakes, and this is a simple lapse. It’s frustrating because the database is only as good as the people who perform data entry, and with the MLS, you’ve got a whole mess of people performing that function, and sometimes not too well. | |
| Of the 10 properties that have sold so far in October, 4 are in Sun City Texas. The percentage of Sun City properties is much higher for those homes that went under contract this week. 8 of the 14 pending properties are located in Sun City. | |
| There are currently 679 residential properties on the market in the MLS areas of GTE and GTW. At a generous pace of 17 sales per week, this means we have about 40 weeks of inventory right now. 10 months. Ouch. | |
Category Georgetown Real Estate / Tags: /
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