Within the City of Murphy 39 houses have sold as tracked within NTREIS over the past 3 months. Looking closer at the information about these houses reveals that 24 of them were built in the decade of 2000; with a sales price range of $180,000 to $480,000 and calendar days on market, CDOM between 11 and 390. The top selling subdivision was Rolling Ridge with Windy Hill Farms close behind followed by Murphy Farms.
Looking again at all 39, only 4 houses had 3 bedrooms, 24 houses with 4, 10 houses with 5 and 1 house had 6 bedrooms. Now the house with 6 bedrooms was not the only house sold with 4 bathrooms. There was 5 houses with 5 bedrooms and 2 houses with 4 bedrooms all with 4 bathrooms.
At this point you can probably appreciate the benefits of a table when dealing with so many numbers and features. Let’s look at a table of information that reveals the average sales price of the 24 houses that sold in the last 3 months built in the decade of 2000.
| Avg Sq Ft | Bedrooms | Bathrooms | Listing Price | Sales Price | CDOM |
| 3,580 | 4 | 3 | $301,495 | $292,379 | 106 |
As we’ve already seen the 24 houses that sold have differing variables. Also, some have 2 car garages others have 3 or more. When deciding to sale your house knowing your variables helps you to understand the market value at the time of listing.
For example, if your house was built in 2000 and has 3 bedrooms with 2 baths and no other unique features you can pretty much know that the fair market value will fall below the average sales price listed above. The same would be true for a house built in the 1980’s especially if it lacked any updates.
One exception could be like the one house built in the 1960’s with 4 bedrooms and 4 baths that sold on nearly 4 acres of land. This house sold with a greater value as the house was fairly comparable and was attached to a fair amount of land.
These are some of the variables that are taken into consideration when an agent puts together a Comparative Market Analysis, CMA. The more the seller can share with the listing agent about their house and neighborhood the better the pricing process will be. A listing agent goes through this discovery process to reveal all known information and establishes a fair market value for your house based on that process and market knowledge.
Contact me if you are ready to list your home in the Murphy Plano area.
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