Comal County: Mortgage Rates and Buying Power in October

What does a 7.24% mortgage rate mean for buying power in Comal County right now? With the median closed price at $474,900 across 31 sales in October, a typical buyer financing with an 80% loan-to-value ratio faces a principal-and-interest payment of about $2,589 per month. ALEX Intelligence modeled how buydowns shift that burden. A standard 3-2-1 buydown reduces the rate to 4.24% in year one, cutting the monthly payment by $722 for that first year. The cost to purchase this buydown is $17,604, or roughly 3.71% of the median sale price. In year two, the rate steps up to 5.24%, saving $493 per month, and in year three it reaches 6.24%, saving $252 per month. A shorter 2-1 buydown offers a lower upfront cost of $8,940 (about 1.88% of the median price). It lowers the rate to 5.24% in year one and 6.24% in year two, with monthly savings of $493 and $252 respectively. These figures are ALEX Intelligence estimates based on a 30-year fixed loan at 7.24%, not an appraisal. The data shows that while rates remain elevated, structured buydowns can improve affordability for buyers who plan to stay long enough to realize the savings. The median price per square foot in Comal County was $229, and homes spent a median of 52 days on market in October. https://alex.realestate Want to see this home? Call or text George at 713.918.9951 for a private showing. Coverage: most home sales in Comal County are listed in another MLS, which ALEX does not receive yet. The figures in this post count only sales listed in Unlock MLS (ABOR), so they describe part of the local market, not all of it. Data from Unlock MLS. Information deemed reliable but not guaranteed. Model outputs are ALEX Intelligence estimates, not appraisals. Read more Central Texas market data on the ALEX blog: https://alex-companies.com/blog