Bandera, TX 78003 housing market

What this means

• Valuation. Prices are 31% above what local incomes have historically supported (this area's pre-2020 price-to-income ratio).
• Prices. Home values are down 2.5% over the past year (U.S.: +1.2%), 9% below their 2022-23 peak.
• Supply. There are 93% more homes for sale than the 2017-19 norm and rising (+27% vs. a year ago), so buyers have more to choose from than before the pandemic.
• Negotiating. Buyer leverage is high (100/100; U.S.: 54): homes sell for about 4.2% below their final list price; 37% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 37% of the median household income (U.S.: 35%); it takes about $85k a year to keep the payment at 30% of gross pay. That includes about $1,922 a year for home insurance (U.S.: $1,790).
• Disaster risk. FEMA expects about $143 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from flooding.
• Outlook. No clear direction: likely −10% to +6% over the next 12 months (43% chance of a rise).

Next 12 months

No clear direction

A fall is somewhat more likely than a rise, but not by enough to call. Likely change: −10.2% to +6.2% (80% range; middle estimate −0.9%), chance of a rise 43%, of a 5%+ drop 25%.

HouseVane's model, refit every month on local market signals and national ones, trained only on data known at the time. How accurate it has been.

Other ZIP codes in Bandera County, TX