NEW BRAUNFELS, Texas – Real estate trends have been making headlines since the coronavirus pandemic started in 2020.
Historic lows in mortgage rates led to a booming market where houses were rapidly increasing in price and selling quickly but those trends appear to have waned.
Average long-term U.S. mortgage rates are now at some of the highest levels in the last 14 years.
In December, KSAT shared real estate trends for San Antonio and Bexar County. Now it’s time to look at the real estate market trends for Comal County and New Braunfels.
Here’s a visual look at recent real estate market trends in New Braunfels and Comal County:
Home sales have plummeted since the start of 2021 when low mortgage rates caused a spike in home sales.
The number of new homes for sale in Comal County saw a steady increase heading into the summer of 2022 before a staggering decline that has continued into 2023.
Comal County has seen several peaks and valleys in terms of median home sales prices over the last year but the data shows prices tend to stay in the mid-$400K range.
Rising inflation has cost consumers on everything from rent to eggs and New Braunfels is not different. The data shows rent has risen steadily over the last 18 months.