2020 Rural Real Estate In Review
I thought it would be fun to take a look back and share with you my point of view of the real estate market in our rural area. In March, I was fully prepared to see a depressed real estate, but come April, things started to shift. With everyone working from home and having more downtime, I think you all spent your hours online looking at real estate! And with these low interest rates, many of you moved forward with a purchase.
First Time Home Buyers
In our area, homes in a price range under $200,000 saw the most action. This was driven by first time home buyers who were taking advantage of historically low interest rates. Fortunately, our rural area did not seem to suffer from large unemployment numbers for W-2 wage earners. So, what did you do? You bought a home! I helped several first-time home buyers make their very first purchase, and I am always a little sentimental when it comes to helping this group.
By the time mid – May rolled around, we all were proud to have survived ‘virtual school’, but it was time to walk away from the computer. An influx in coastal second home sales went through the roof with many locals and non-locals ready to escape their home and take their family someplace safe, warm, and fun. Anyone who was ever ‘on the fence’ about purchasing a bay home put it at the forefront and took advantage of those low interest rates.
Farm and Ranch Land
It only took this group 4-6 weeks of being stuck at home and browsing LandsofTexas.com to decide that recreational property was what they needed. These buyers were not ‘locals’ as we would call them. This market was dominated by buyers living in the greater Houston area who wanted a ranch or land no more than 2 hours away. They tended to be looking for 50-150 acres, smaller tracts without homes. They wanted a place for their families to go outside and enjoy nature instead of being homebound in the city.
I think every single one of us that lives and has grown up in a rural area takes this for granted, that we have access to wide open spaces all around us. I took many families on showings and got to teach their kiddos about plants not to touch, animal tracts, and mostly, how important it is to look down when running around rural property. Why look down? To see what you could possibly step on (or in) of course!
Outsiders Moving In
I spoke to many buyers throughout the summer who were looking for property in ‘this direction’ to get out of the metro area (mainly farm and ranch land from the above category). Many of these families made the comment ‘if this keeps going on, we will be looking for a home and make the move permanently”.
This is where I have spent most of my time since October, showing homes to families who are looking to uproot and move. Any direction about ‘an hour away’ on some acreage is what they are seeking. Any higher end home on acreage is all I have been showing them. One of the advantages of the El Campo area is that they can have satellite internet out in the country and rent a small office space in town to utilize YK Communications high speed fiber internet. A bonus for these individuals who are used to everything moving fast-paced!
Let’s Wrap It Up!
It was a crazy year. I prepared myself in March to expect a slow year with my real estate brokerage, but as it turns out, by the beginning of December, I was just trying to catch my breath! I am extremely grateful to have had one of my busiest years yet, and I know everyone who works in rural real estate would probably agree.
And thank goodness for Melanie!
If you follow along on my Facebook or Instagram, then you know I hired Melanie Rodriguez as my Transaction Coordinator and Marketing Manager this past year. She has been vital to my real estate business, and I am looking forward to showing you what we are cooking up on the marketing front that will be new for 2021!
Want To Follow Along?
Like and follow @coriradleyrealtor on Facebook and Instagram, or subscribe to my newsletter below!
- Cori Radley