Home Selling in 76244>Question Details

Vowsftworth, Home Seller in 76244

average days on the market for 76244 & average price per sq foot

Asked by Vowsftworth, 76244 Fri Jun 18, 2010

average days on the market for 76244 & average price per sq foot on property sold. I think we are priced right (about $72 per sqr ft) but no showing

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Kirby Smith’s answer
My partner and I specialize in the 76244 market area. If you have your home listed with an realtor, you can obtain a showing report from centralized showing service that will break down showing activity for the specific MLS area with break downs by price and by weeks. For example, last week for a portion of the 76244 MLS area and homes priced between 175K-180K there were a total of 18 showings for all the homes in that market area and for that price range last week 6-2-13 thru 6-8-13. Each home had an average 3.6 showings. One of my listing had 5 of these 18 showings so we were very pleased with the activity.

However, I can tell you that for 76244 the weeks have been different in activity, 4 weeks ago there was a total of 120 showings, then it dropped to around 99 showings, and last week there was over 150 for a certain section of 76244. The timing of school letting out, beginning of summer has had some effect on the market but what I believe to be the biggest effect on days on market has been an increase in inventory. In one neighborhood I specialize in for 76244 there was consistently 3 houses actively on the market over the spring which drove up prices, led to just a few days on market, and multiple offers, now there are 12. It's the law of supply and demand.

Price will also have something to do with this but as everyone has mentioned pricing is not done sq.ft. to sq.ft. There are too many factors that go into pricing and adjusting that will effect the price per sq.ft. Some neighborhoods sell for a higher price in 76244 than others as well as who the builder was. For example in the Harvest Ridge neighborhood, the 1 story David Weekly Floor Plan with the children's retreat has been the highest seller for that neighborhood...it sells for thousands more than other floor plans of the same sq.ft. Best of luck.

If you are not currently working with a realtor, feel free to get in touch with us...we would love to help

Alliance Realty Group
Kallie Ritchey
682-237-1440 ext. 102

203 Bowie Street
Roanoke, TX 76262
1 vote Thank Flag Link Sat Jun 15, 2013
The home prices in this area vary by community. Look at the list prices of homes around you that are sold and available currently. Most people do not search for a price per square foot, they search for a price. If you price the home correcty the price per square foot will be fine.
0 votes Thank Flag Link Sat Aug 4, 2012
Hi, Vows,

A good rule of thumb for most markets is two weeks with no showings means you are priced too high. Ten Showings with no offers usually means you are either priced too high or your home doesn't show well. To sell a home in this market, it must be sparkling clean, in good repair, move-in ready, and priced right @ market.

Price per square foot varies due to many factors. Generally, a smaller home will sell at a higher $$/SF than a larger home in the same neighborhood. A 1-story home may bring a little more per SF than a 2-story, because it doesn't cost that much more to build a bigger home or to add a second story. Extra features don't add much to the price per SF. Instead, they serve as tie breakers... if everything is equal, I'll choose the one with granite counters, etc..

The biggest factor to get showings is effective exposure to the widest possible market. Over 85% of today''s Buyers start on the internet, so your home MUST be on every available Real Estate website. The more COMPELLING pictures you have, the better. A Virtual Tour is almost a must these days. Many Buyers won't even look at an online listing that doesn't have the maximum number of pictures and a sizzling virtual tour.

Once they find your home, you have to make it easy to see. If you don't have an agent to pre-qualify potential Buyers, you may find yourself flooded with non-qualified Buyers, looking for deep bargains, design ideas or just curious. Some may be looking for an opportunity to steal. IF you do find a buyer who can qualify and loves your home, then you have to make sure that you comply with all the disclosure laws, negotiate the contract properly, manage all the details that can derail an otherwise perfectly good transaction, and get the transaction closed and funded. Even the most experienced REALTORS® and Loan Officers are finding it challenging to navigate the rapids of today's tightened lender underwriting requirements.

Because of the increasing complexity of contract details, and to save time and frustration, the great majority of Buyers use an agent to help them. Local agents have access to 99%+ of all the homes on the market, they have current stats available about pricing and market absorption, and they know the neighborhoods. Serious Buyers don't usually have time to explore For Sale By Owner homes. Those who do are generally looking for big bargains or distressed properties.

Good luck,

Doc Stephens, REALTOR®
Web Reference: http://Tellellen.com
0 votes Thank Flag Link Fri Jun 18, 2010
Price per square foot is somewhat useful for average houses, but the number of bedrooms, age, pool or not, size range and construction quality also are key factors.

For 3-bedroom typical-sized average quality average age homes the average price per square without a pool in 76244 for SOLDs is $75 ($52-91), for listed properties not yet sold is $79 ($47-105), and for PENDING sales the list price was $72 (it might have contracted for less or more).

Because there is so much variance in amenities and quality, the ranges should include your listing and the average is only an indicator, not a rule.
Web Reference: http://www.SumnerRealty.com
0 votes Thank Flag Link Fri Jun 18, 2010
It is not typically advisable to just go by price per sq ft. When a potential buyer is looking at a home to buy they are looking at the condition, presentation and value. People will often pay a higher price per sq ft for a home that has great curb appeal. Also, larger homes typically sell for a lower price per sq ft.

If you are not getting any showings the only reason it can be is the home is overpriced. This means that if you are listed in the MLS Realtors are finding your home and their clients are not wanting to view the property for some reason. When that happens it is always because of price. I would have your Realtor take you out to look at similar comparable homes in your area that are for sale. Take a good look at what is available and what is your competition right now. That is usually an eye opener for most sellers I work with. It also allows us to price the home correctly to start so that you can receive top dollar. When I take my clients to look at comparable homes before listing those homes have accepted offers in less than 2 weeks. In this market that does not happen very often... unless the home is priced right to begin with.

Best of luck to you.
0 votes Thank Flag Link Fri Jun 18, 2010
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