Blanco River Sales in Wimberley Rebound After flood
I was asked by a client, this week, what Blanco River sales have done in Wimberley since the flood of 2015. My initial thought was that Wimberley was back to pre-flood levels but I decided to take a closer look and here is what I found.
The year and a half after the flood was mostly about rebuilding and remodeling and the good folks of Wimberley who were hit the hardest, trying to figure out what to do with their Blanco River properties.
Skip forward to 2107 and we saw 12 Blanco River properties sale at a median price of $632,500. In 2018 Wimberley had 13 Blanco River homes sale at a median sales price of $550,000 and up to November of 2019 we have seen 11 Blanco River home sales at a median sales price of $525,000. Here is what the two and a half years 2017-(November) 2019 look like:
Copy of Blanco River Residential Sales 2017-2019 (through September)
Property Type: Residential l Staus: Sold l Number of Properties Sold: 35| Beds | Baths | Square Feet | List Price | Sold Price | Sold Price Sq.Ft. | Acres | DOM | |
|---|---|---|---|---|---|---|---|---|
| MIN | 1 | 1 | 730 | $304,700 | $300,000 | $136.47 | .42 | 2 |
| MAX | 5 | 5/2 | 3,847 | $1,995,000 | $1,925,000 | $621.97 | 46.15 | 753 |
| AVG | 3 | 3/1 | 2,238 | $688,620 | $636,583 | $295.52 | 3.59 | 189 |
| MED | 3 | 3/1 | 2,238 | $595,000 | $548,500 | $289.86 | 1.43 | 88 |
So what had happened in the two and a half years previous to the flood of 2015 with home sales on the Blanco River in Wimberley?
Well, oddly enough the exact same number of sales with 35 river home sales at a median sales price of $550,000. Here is what the two and a half years previous to the flood of 2015 looks like.
Blanco River Residential Sales for two years prior to flood of 2015
Property Type: Residential l Staus: Sold l Number of Properties Sold: 35| Beds | Baths | Square Feet | List Price | Sold Price | Sold Price Sq.Ft. | Acres | DOM | |
|---|---|---|---|---|---|---|---|---|
| MIN | 1 | 1 | 828 | $274,900 | $250,000 | $95.64 | .24 | 1 |
| MAX | 5 | 5/2 | 4,558 | $1,700,000 | $1,457,500 | $546.18 | 10.00 | 750 |
| AVG | 3 | 3 | 2,402 | $638,874 | $602,057 | $270.11 | 1.95 | 178 |
| MED | 3 | 3 | 2,375 | $575,000 | $550,000 | $266.40 | 1.08 | 107 |
My initial thought, that it “felt” like we were back to pre-flood levels on sales was correct. I think the sales numbers show something else that is important. The median sales price both before and after the flood is almost identical but here is what the non-riverfront properties have done in Wimberley. Take a look at the 2012-2015 time period and then the 2017-2019 periods. We have seen a rise in the median sales price in Wimberley of 30%-40% during the same time period.
Conclusions:
Volume is back but sales prices are still recovering for Blanco River homes. I expect the further we get away from the flood of 2015 to see Blanco River home values rise to catch up with the appreciation we have seen in the last few years of non- river homes in the Wimberley Valley. The flood of 2015 caused a lot of damage to both Wimberley’s property and Wimberley hearts. Time is a healer. Wimberley is strong.
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