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An overview of the Wichita Falls Real Estate Market for 2013.
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PRESENTED BY BISHOP REALTOR GROUP
www.HamiltonBryan.com
Enjoy every inch of your home.Transform ordinary rooms into a place your family can call home. A home where memories are made for a lifetime. Come home to comfort.
3www.bishoprealtors.com
To Our Friends, Clients, and Reader,Thank you for taking the time to read our 2013 Wichita Falls Real Estate Report. Our company has always been
data driven and has sought to be the leader in true and accurate information for our North Texas Market. The
information you find in this report was compiled directly from the Wichita Falls MLS. While we know that not every
transaction is recorded in the MLS, this report aims to serve as a generic, yet specific guideline and overview of
how our market and neighborhoods have performed over the past year.
2013 was an interesting year for the Bishop Realtor Group. While we broke our all time record for the number of
sales and total dollar volume closed, we still felt the pain along with numerous home sellers that would end up
having to rent their property or chose not to sell at the number the market would bear. Collectively, our wonderful
team and staff served over 400 real estate transaction sides which totaled over $63,000,000 in closed volume. We
are so grateful to our clients that entrust their real estate needs to us and we look forward to continually being a
part of helping those we serve “love where they live.”
Looking into 2014 we know there are numerous issues ahead of us that include: the lack of water, changing affairs
with Sheppard Air Force Base, and a new public school resolution. None of us have the crystal ball as to what will
transpire, but we know that collectively we all must play a role to create a successful market, economy, and a
better Wichita Falls.
It has been said that data is the soil in which ideas grow. Should you have any questions about this information,
please feel free to contact us at 940.691.7355.
Best,
ANN BISHOPOWNER - BROKER
DENNY BISHOPOWNER - REALTOR
ASHTON GUSTAFSONOWNER - REALTOR
Year End TotalsWICHITA FALLS 2013 vs 2012
RESIDENTIAL FINANCINGConventional 432FHA 195Cash 194VA 134Owner Financed 9Other 6
0 50m 100m 150m 200m
2012
2013TOTAL VOLUME SOLD
$178,216,051 $158,796,995
$5,000,000
$10,000,000
$15,000,000
$20,000,000
DecNovOctSepAugJulJunMayAprMarFebJan
TOTAL VOLUME SOLD BY MONTH 2013 2012
AVERAGE DAYS ON MARKET
20122013
87 82
2013
2012
LISTINGS
LISTINGS
SALES
SALES
1,455
2,727
1,351
2,806
6 Bishop Realtor Group
LAKE WELLINGTONYEAR SALES AVG. LIST PRICE AVG. SALES PRICE AVG. D.O.M. AVG. PRICE PER S/F
2013 11 $289,326.00 $282,136.00 48 $110.97
2012 11 $323,645.00 $314,363.00 86 $113.34
New construction designs, lake views, and access to the very popular West Foundation Elementary School makes Lake Wellington Estates a much sought after neighborhood to live in.
COUNTRY CLUB ABOVE $250,000YEAR SALES AVG. LIST PRICE AVG. SALES PRICE AVG. D.O.M. AVG. PRICE PER S/F
2013 17 $414,235.00 $380,229.00 145 $92.92
2012 14 $398,378.00 $368,857.00 116 $94.13
Wonderfully shaded streets, over-sized lots, and the historic charm of older construction is the theme loved by the residents of Country Club Estates. Located near Midwestern State University, the Wichita Falls Country Club, and with easy access to Kell Freeway makes this area a very convenient area to reside.
COUNTRY CLUB BELOW $250,000YEAR SALES AVG. LIST PRICE AVG. SALES PRICE AVG. D.O.M. AVG. PRICE PER S/F
2013 25 $182,576.00 $172,184.00 120 $81.36
2012 15 $173,166.00 $164,030.00 157 $76.51
One doesn’t have to spend a large amount of money to enjoy the charm, location, and beauty offered in Country Club. Known as “The Cottages”, this area offers a parallel feel to the “Estates” with homes typically varying in size, but overall smaller than the neighboring estate properties.
HILL AND HILL / TROPHY PARKYEAR SALES AVG. LIST PRICE AVG. SALES PRICE AVG. D.O.M. AVG. PRICE PER S/F
2013 18 $160,961.00 $157,883.00 76 $92.79
2012 25 $153,001.00 $149,165.00 86 $90.09
With most of these homes being built after 2000, this area has great momentum with the trends of home buyers seeking relatively newer construction. Located just off of Southwest Parkway and ad-jacent to the WFISD Stadium, this area offers the most consistent blueprint for real estate relativity in our market.
AVERAGE DAYS ON MARKET
200947
2010
942011
121
2012
86201348
AVERAGE DAYS ON MARKET
2013
145200969
2010
174
201177
2012
116
2009
105201070
201139
2012
157
2013
120
AVERAGE DAYS ON MARKET
2010
78
2011
86
2012
86
2013
76AVERAGE DAYS ON MARKET
INSULATION • SIDING • WINDOWS • CARPORTS • PATIO COVERS
940-761-1717 • Toll Free: 1-888-884-8784www.MarantConstruction.com
FREE ESTIMATES!SEE OUR SHOWROOM AT 1200 LAMAR, WICHITA FALLS
Specializing in Cedar Shake Roofing
LICENSED
BONDED
INSURED
Ask us how your new roof can save you money on Homeowners Insurance.
• Manufacturer’s & Workmanship Warranty• Certainteed Goldstar Commercial Applicator• Certainteed Master Shingle Applicator• Member: Cedar Shake & Shingle Bureau• Graduated: Hague Engineering School
9www.bishoprealtors.com
STARWOOD / ROLLING HILLSYEAR SALES AVG. LIST PRICE AVG. SALES PRICE AVG. D.O.M. AVG. PRICE PER S/F
2013 10 $255,590.00 $252,865.00 95 $111.43
2012 12 $250,758.00 $246,275.00 111 $108.34
Predominantly newer homes with at least 2000 square feet are found in this lovely addition located just south of the WFISD Stadium and off of Barnett Road.
BRIDGE CREEK / CANDLEWOODYEAR SALES AVG. LIST PRICE AVG. SALES PRICE AVG. D.O.M. AVG. PRICE PER S/F
2013 7 $272,714.00 $263,714.00 67 $107.92
2012 8 $289,162.00 $282,562.00 76 $109.50
One of Wichita Falls’ newest and most prestigious subdivisions, Bridge Creek / Candlewood is located in the southwest part of Wichita Falls and consists of homes priced from homes $200,000 and up. This area offers opportunity for new construction as well as homes less than ten years old.
SIKES BUILT BEFORE 2000YEAR SALES AVG. LIST PRICE AVG. SALES PRICE AVG. D.O.M. AVG. PRICE PER S/F
2013 31 $182,990.00 $177,405.00 68 $78.30
2012 18 $187,227.00 $182,988.00 83 $80.59
This very popular and charming neighborhood offers the three drivers for home buyer selection: location, style, and value. With homes varying in age and size, this neighborhood is one where many buyers have invested in renovating older properties while gaining square footage not found with newer construction.
SIKES BUILT AFTER 2000YEAR SALES AVG. LIST PRICE AVG. SALES PRICE AVG. D.O.M. AVG. PRICE PER S/F
2013 3 $298,233.00 $267,500.00 83 $113.00
2012 8 $251,000.00 $244,312.00 102 $102.58
This area of Sikes Estates is mostly made up of the homes on South Shepherds Glenn and its’ connecting cul-de-sacs. These homes offer new construction that is hard to find in this area of Wichita Falls along with access to the city walking and bike trail.
AVERAGE DAYS ON MARKET
2009
106
201049
2011
104
2012
111
2013
95
2009
752010
119
201157
2012
762013
67
AVERAGE DAYS ON MARKET
2009
762010
109
2011
98
2012
832013
68
AVERAGE DAYS ON MARKET
2009
129
201055
2011
98
2012
102
2013
83
AVERAGE DAYS ON MARKET
INSULATION • SIDING • WINDOWS • CARPORTS • PATIO COVERS
940-761-1717 • Toll Free: 1-888-884-8784www.MarantConstruction.com
FREE ESTIMATES!SEE OUR SHOWROOM AT 1200 LAMAR, WICHITA FALLS
Specializing in Cedar Shake Roofing
LICENSED
BONDED
INSURED
Ask us how your new roof can save you money on Homeowners Insurance.
• Manufacturer’s & Workmanship Warranty• Certainteed Goldstar Commercial Applicator• Certainteed Master Shingle Applicator• Member: Cedar Shake & Shingle Bureau• Graduated: Hague Engineering School
10 Bishop Realtor Group
STONE LAKEYEAR SALES AVG. LIST PRICE AVG. SALES PRICE AVG. D.O.M. AVG. PRICE PER S/F
2013 11 $232,181.00 $210,572.00 88 $96.46
2012 7 $242,114.00 $235,285.00 24 $104.98
A recent development off of Southwest Parkway, Stone Lake is a quiet neighborhood with beautiful homes and a nearby pond to enjoy. Grace Church, The Family YMCA, and Christ Academy are also easily accessible within the Stone Lake neighborhood.
COLONIAL PARK / BRENTWOOD ESTATESYEAR SALES AVG. LIST PRICE AVG. SALES PRICE AVG. D.O.M. AVG. PRICE PER S/F
2013 9 $218,433.00 $204,222.00 123 $67.78
2012 19 $214,347.00 $207,636.00 87 $74.83
Wonderfully kept homes, large lots, beautiful trees, and superb location are found here in the Colonial Park and Brentwood Estates areas. Divided by Taft Boulevard, these properties offer large amounts of square footage, walking access to the city trail or Sikes Lake, proximity to Midwestern State University, and easy access to shopping and entertainment.
MIDWESTERN PARKYEAR SALES AVG. LIST PRICE AVG. SALES PRICE AVG. D.O.M. AVG. PRICE PER S/F
2013 9 $195,961.00 $186,455.00 128 $75.99
2012 7 $160,471.00 $152,342.00 69 $78.54
This neighborhood has any design of home that one could look for: 0 lot line, single family, recently built, and older properties as well. Elmwood Avenue is the main artery through the neighborhood connecting the residents to Southwest Parkway, Maplewood Avenue, and Kemp Boulevard.
BROOK VILLAGEYEAR SALES AVG. LIST PRICE AVG. SALES PRICE AVG. D.O.M. AVG. PRICE PER S/F
2013 21 $85,682.00 $83,076.00 122 $56.10
2012 30 $108,449.00 $104,348.00 83 $64.22
Located just off of Harrison and Kell Boulevard, Brook Village offers an eclectic cottage vibe along with the historical charm and charisma many Wichita Falls residents long for. We say you can be anywhere you want in just ten minutes from here.
2009
102
2010
137
2011
742012
242013
88
AVERAGE DAYS ON MARKET
2009
128
2010
712011
842012
872013
123AVERAGE DAYS ON MARKET
2009
732010
732011
692012
692013
128AVERAGE DAYS ON MARKET
2009
116
2010
792011
872012
832013
122AVERAGE DAYS ON MARKET
1920 Elmwood North Ave. • 940-720-5200www.archertitle.com
Archer Title of Texas is committed to building a brighter future in our
communities by providing quality title and closing services for residential,
commercial and ranch properties.
We are honored to serve our neighbors in Archer, Clay and Wichita
Counties. Contact us today, and let us know how we can help you.
THE CHOICE IS YOURS
13www.bishoprealtors.com
CANYON TRAILSYEAR SALES AVG. LIST PRICE AVG. SALES PRICE AVG. D.O.M. AVG. PRICE PER S/F
2013 5 $666,960.00 $552,500.00 126 $130.99
2012 5 $262,360.00 $254,280.00 55 $104.76
This beautiful development off of Seymour Highway offers views unlike any other area in the city limits of Wichita Falls. Rolling hills and native grasslands offer the residents a Texas hill country feel while maintaining the natural landscapes.
TANGLEWOODYEAR SALES AVG. LIST PRICE AVG. SALES PRICE AVG. D.O.M. AVG. PRICE PER S/F
2013 15 $218,326.00 $208,126.00 114 $82.19
2012 18 $196,272.00 $187,811.00 107 $74.63
Wonderful hills and views are found in this Wichita Falls favorite addition of Tanglewood. Home ages vary widely as do construction designs. Whatever one’s flare of price point is, it can be found here.
FOUNTAIN PARKYEAR SALES AVG. LIST PRICE AVG. SALES PRICE AVG. D.O.M. AVG. PRICE PER S/F
2013 38 $154,368.00 $147,928.00 79 $74.01
2012 41 $174,214.00 $167,866.00 78 $78.36
The boundaries of this area include Kell Boulevard, McNiel Avenue, and Fairway Boulevard. Fountain Park has become a very popular area for Wichita Falls residents with easy access to the city’s major thoroughfares, close proximity to shopping and grocery stores, and a wide variety of home selections.
SUMMERFIELDYEAR SALES AVG. LIST PRICE AVG. SALES PRICE AVG. D.O.M. AVG. PRICE PER S/F
2013 24 $145,603.00 $142,262.00 66 $91.43
2012 22 $140,736.00 $136,936.00 58 $89.25
This southwest Wichita Falls neighborhood has been very popular over the last decade with surrounding neighborhoods establishing themselves off of Summerfield’s momentum.
BEL AIRYEAR SALES AVG. LIST PRICE AVG. SALES PRICE AVG. D.O.M. AVG. PRICE PER S/F
2013 18 $158,427.00 $154,991.00 53 $82.87
2012 12 $141,024.00 $136,575.00 108 $71.02
Located just off of Kell Boulevard and Fairway Boulevard, Bel Air offers homes of all sizes, ages, and price ranges. This is a quiet area with easy access to all places in Wichita Falls.
2009
1202010
200
2011
602012
552013
126
AVERAGE DAYS ON MARKET
2009
137
2010
762011
126
2012
107
2013
114
AVERAGE DAYS ON MARKET
2009
72
2010
70
2011
87
2012
78
2013
79AVERAGE DAYS ON MARKET
2009
652010
712011
88
2012
582013
66
AVERAGE DAYS ON MARKET
2009
862010
682011
104
2012
108
201353
AVERAGE DAYS ON MARKET
www.amnat.com
1916 N. Elmwood Avenue
Wichita Falls, Texas 76308
(940) 691-7355
www.bishoprealtors.com