Gillespie County: Mortgage Rates and Buying Power in November

What does a 7.11% mortgage rate mean for buyers in Gillespie County right now? With the median closed sale price at $649,550 across 36 homes over the rolling six months ending October 31, 2026, monthly payments are significantly higher than they were last year when rates were lower. ALEX Intelligence modeled buying power using a loan amount of $519,640 at the current rate of 7.11%. The principal and interest payment sits at $3,496 per month. For buyers seeking to reduce that monthly burden, lenders often offer buydowns. A 3-2-1 temporary buydown would cost $23,964 upfront, dropping the first-year rate to a lower tier and saving $982 a month initially. A shorter 2-1 buydown costs $12,180, reducing the first-year rate for a monthly savings of $671. These figures are estimates based on median data and do not constitute an appraisal. The current market shows prices down 28.6% compared to the same period last year, while inventory remains elevated with 11.5 months of supply. Buyers should weigh the upfront cost of a buydown against their long-term rate expectations and cash flow needs before committing. 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 Gillespie County are listed in the Central Hill Country 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