Welcome to the September Victoria Chamber Quick Facts. We hope that the information in this email will benefit your business.
The average sales price for residential homes was $175,828 for the 12 months ending July 2014, up 4.8% versus the same period ending July 2013. Total sales of residential homes in the Victoria MLS for the same period was 947, 8.5% higher than the same period in 2013. Median home price for Victoria over the past 12 months is $159,900 up 6.6% from the same period in 2013. Total volume of sales was $166,508,782 compared to $146,424,599 up 13.7% from 2013. Active listings are 232 compared to 238 in 2013 down 2.5%. The average Days on Market for residential homes for the 12 months ending July, 2014 was 89, 11 % shorter than the same period last year.
There is a 2.7 Months Inventory in the Market. Six months of inventory is considered a balanced market.
- Information provided with permission by Lee Swearingen Report.
City Building Activity
The month of August saw 13 new residential permits issued. The total permitted valuation for residential permits is $2,311,950. There was 0 new commercial construction permits issued in Victoria for the month of August. New signs permits for the month of August were 13 with a total permitted amount of $167,777. So for this fiscal year, 136 residential permits were issued with a valuation of $21,807,062 and 29 new construction permits were issued with a total valuation of $44,147,782. The City’s fiscal year begins in October.
Reasons Why the Rental Market is in Such Demand
A new survey says that younger workers and other renters aren’t turning away from homeownership because they lack the desire to own homes. Instead, they’re staying on the sidelines because they lack the capacity to purchase.
How the Eagle Ford Impacts the Price at the Pump
It wasn’t long ago that the price of a gallon of gas in Texas was well above $4 a gallon, and although Texans may still feel some pain at the pump, the prices could be much higher if it wasn’t for the Eagle Ford Shale and the oil and gas renaissance taking place in the U.S. Some industry professionals speculate the price of a gallon of gas could be as much $7 – $8 dollars a gallon if it wasn’t for the shale oil boom, made possible by advances in horizontal drilling and fracking.
Weekly Webinars for Small Employers Concerning the Affordable Care Act
SBA, the Department of Health Human and Services, and Small Business Majority have teamed up for a free weekly webinar series where small employers can learn the basics of the Affordable Care Act and what it means for their organization and employees. Topics covered include cost containment, the Small Business Health Care Tax Credit, the new Health Insurance Marketplace, and Employer Shared Responsibility. Webinar content will generally be the same each week.
Some Cool Drone Photos of a Local Building Project
Ben Galvan, the owner of CivilCorp, sent me some photos, a couple of months ago, of his new office building. The photos were taken by a remotely piloted drone. Drone technology has got some great private business applications. Completion of the building is expected by year’s end. There is about 7,200 sf of leasable space on the second floor and 3,000 sf on the first floor. CivilCorp’s corporate office will be located on the third floor. The building is located at 4611 Airline Rd.
Texas A&M University Health Science Center’s Family Medicine Residency Program Add a New Faculty Member
The Texas A&M University Health Science Center’s Family Medicine Residency program at the DeTar Healthcare System has added a new faculty member. Dr. Edward C. Nwanegbo received his medical degree from the University of Nigeria School of Medicine Enugu and completed his internship at the Federal Medical Center Owerri, in Imo State, Nigeria. At the University of Pittsburgh, he completed a post-doctoral research fellowship in gene therapy and infectious disease. Additionally, Dr. Nwanegbo completed a family medicine residency program at the Siouxland Medical Educational Foundation, University of Iowa, Sioux City. Dr. Nwanegbo also holds a master’s in public health from the Graduate School of Public Health and an academic entrepreneurship diploma from the Katz Graduate School of Business—both from the University of Pittsburg.
New Chamber Members
Aaron’s Sales & Lease Branch of Hope Children’s Therapy Center
3801 Houston Hwy., Ste 100 3911-A Azalea St.
Victoria, Texas 77901 Victoria, Texas 77904
(361) 573-0149 (361) 576-0884
Life Balance Natural Health Clinic Office Depot
1307 E. Airline, Ste I 5106 N. Navarro St.
Victoria, Texas 77901 Victoria, Texas 77904
(361) 894-8732 (361) 572-8999
PlainsCapital Bank Superior Custom Builders
101 W. Goodwin St. Ste. 410 1501 E. Mockingbird Ln.
Victoria, Texas 77901 Victoria, Texas 77901
(361) 827-7450 (361) 578-6963
US Army Victoria Recruiting Station
6412 N. Navarro, Suite L
Victoria, Texas 77904