The Brownwood Area Chamber of Commerce’s monthly luncheon on Friday featured a presentation about the local real estate market.  Sheri Wells, President of the local Heartland Realtors organization, made the presentation.

The Heartland Realtors covers seven counties in Central Texas:  Brown, Coleman, Comanche, McCullough, Mills, San Saba, and the southern half of Eastland County.  The organization currently has 243 members.  Real estate brokers, agents, and appraisers make up the great majority of members, about 195, but there are also about fifty members who are property managers, lenders, surveyors, inspectors, etc.

The organization strives to be a trusted source for information and data, including market trends, commercial site selection, trade area reports, local demographic and economic data, and quality of life ratings.  Each month they publish a report on the latest sales data including the number of closed sales from the previous month, the median price, the median price per square foot, the number of days on the market, the price distribution of the previous month’s sales, and the number of properties currently listed for sale.

Wells talked about the effect on the real estate market of the COVID pandemic.  Compared to June 2019, prior to the pandemic, the number of days on the market is currently up by nine days, the median price per square foot has increased by 66%, and the ratio of the closing price/original listing price has decreased to 92.3% vs. 96.2% in June 2019.

Wells urged everyone to use a local real estate agent when selling or buying a house, because they are a local business just like any other local brick-and-mortar store.  An out-of-town real estate agent takes his/her commission and spends it out of town, whereas local agents spend their commissions here at home.  Also local agents support local charitable organizations, such as Brown County Home Solutions, Sleep in Heavenly Peace, the Lehnis Museum in Brownwood and the Legacy Plaza in Goldthwaite.

Wells explained that real estate agents who are a member of the National Association of REALTORS are known as REALTORS.  As such, they take training in, and advocate for, fair housing policies and the rights of property owners.  The also stay engaged in the political process to work for property tax relief, rural broadband access, Home Owners Association reforms, and against transfer taxes on real estate transactions.

The presentation also included the following economic and demographic information about Brown County:

Income per Capita:  Brown County $30,202, Texas $37,514, USA $41,261

Median Household Income:  Brown County $53,792, Texas $73,035, USA $75,149

Unemployment Rate:  Brown County 4.1%, Texas 4.1%, USA 3.8%

High School Graduate:  Brown County 33.3%, Texas 24.4%, USA 26.4%

Associate’s Degree:  Brown County 34.2%, Texas 28.5%, USA 28.5%

College Bachelor’s Degree:  Brown County 14.7%, Texas 20.7%, USA 20.9%

Brown County Top Five Occupational Categories:

Manufacturing:  2,290

Health Care and Social Care Providers:  2,110

Retail Trade:  1,890

Education:  1,460

Construction:  1,290