“NEW” Competition For The Resale Homes?

mroller

9 months ago

THIS MONTHS VIDEO

Explore the impact of New Homes and how Sellers can avoid being frustrated due to having to take a price reduction because their home is needlessly aging on the market

August Results for Zip Code 77441

What is forever? That would be how long the number of Resale homes on the market has continued to climb! So, refreshing to see an actual decline. It’s still too high, though. The New Homes? Zero change from the 6-month average.

RESALES:

What results in August would be a concern for Sellers? How about if the Averages for Sales Price, Price Per Square Foot, and the number of homes Sold all declined? That’s a trifecta! Couple this with increasing Days on Market, and these results would meet my definition of why Sellers should be concerned.

NEW HOMES:

The results for August were a little mixed. The Average Sales Price dropped, yet the Average Price Per Square foot remained unchanged. Just shows their corporate strategy is to sell lower-priced homes, but at the same Price Per Square Foot. Appears to be working, even with price reductions up to $80,000. So, makes sense that the number of Sales would increase and the Months of Supply decrease.

WHEN TO BUY AND SELL?

There are a lot of factors affecting the market. Uncertainty, though, means that whatever Buyers and Sellers thought the market was just a mere 30 days ago, may NOT be the market we are in today.

So, if you would like a FREE market analysis to see what your home is worth, along with insight into the current market, just reach out to us. We’d be pleased to help you decide the best time to buy or sell.

HELPFUL RECOMMENDATION

As indicated, there is a lot of volatility in the market, and this means home prices are not remaining constant. As such, we recommend that Sellers meet with at least two Agents BEFORE you List. It just seems reasonable if you’re selling an asset worth hundreds of thousands of dollars, that you would welcome as much information as possible.

NEW HOME REBATE PROGRAM

If you are considering the purchase of a New Home, please contact us. We have a Special Offer which will put THOUSANDS OF DOLLARS in your pocket.

Results by Community

Below is a wealth of information for each Community. Just click on the link and view a quick summary that shows how each community is performing; based upon the Averages for both Sales Price and Price Per Square Foot.