Every couple of months, I like to cover some of the key projects and trends in Marble Falls. In this installment of the blog, I’ll focus on what is happening in real estate in the area.
Offers have been made on a couple of large tracts along Highway 281 south of Lake Marble Falls. These properties total nearly 500 acres and present great residential development opportunities along with some commercial potential.
Also under contract is some high-profile property along Highway 281 on the northern edge of town, as well as several parcels that are ripe for redevelopment closer to the center of town.
Currently construction projects include: the new Grand Bank of Texas property between Mormon Mill Road and Highway 281, Peete’s Country Kitchen next to Peete Mesquite BBQ, One Swanky Shop, the Baylor Scott & White hospital, the First Baptist Church in La Ventana, St. John’s Catholic Church on FM 1431, and more. Early-stage site development is underway for some medical office space near the Burnet County Courthouse Annex and the HEB/Bealls property on FM 1431.
Finally, all trailers have been removed from the Downtown property on South Main Street that was recently acquired by the EDC. We are currently in the process of cleaning up those parcels and the lakefront property across the street.
In terms of residential activity, things have picked up substantially in Marble Falls. The average monthly residential sales volume in Marble Falls proper is up almost 35% from 2013 to 2014. Moreover, the median sales price is up $10,000 so far this year. New residential permits have almost doubled in the first 6 months of this year compared to last year—granted, the increase is from 4 to 7, but the Build Marble Falls initiative is beginning to make a small difference.
Commercial building permit valuations total nearly $39 million so far this year, a 72.5% increase over the first six months of last year.
There are still some great deals on property in Marble Falls—please check out the listings on our web site or contact a local realtor for assistance.