Is this a good time to sell my Cypress home?

By
Real Estate Agent with CB&A Realtors 599921 Texas
https://activerain.com/droplet/57sZ

If you are thinking about selling your Cypress home and you've wondered if now is a good time, here are some market statistics that may help you determine if it's the right time to sell.  The market is active with homes selling within typical days on market for their specific price range and area (as compared to recent trends).  

Data provided below is divided by zip code to better target hyper-local market activity.  Remember that sold prices and days on market are averages of the total number of homes in a specific price range.  Some homes sold faster (or took longer) and at a higher percentage of original list price, which is also typical of market behavior. 

The quicker a home sells after going active on the market, the more likely the final sale price will be near or at full asking price.  This is the primary reason that pricing your home at market value is crucial.  Increased market time decreases the liklihood of receiving an offer at list price, and sometimes results in getting an even lower sale price than you would have if the home had been listed at market value (indicated by recent comparable sales).  If your home is in a neighborhood that's in high demand, listing at market value can sometimes mean multiple offers and a final sale price above the original  list price.

The following market data is for the month of September 2017:

Zip Code 77433

No. of homes *sold/active/under contract or pending

Avg. adj. % original list price/sale price

Avg. days on market (DOM)

Under $200k

 28/35/41

 98%

41

$200 to $300k

 66/279/156

 96%

65 

$300 to $400K

 54/214/58

 93%

80 

$400 to $500K

25/111/28 

89% 

152 

$500K to $1 million

20/113 /17

92% 

186 

TOTAL SOLD

193

 

 

Zip Code 77429

 

 

 

Up to $200K

34/41/48

95%

36

$200 to $300K

 74/172/67

 95%

 52

$300 to $400K

 33/108/37

 90%

 73

$400 to $500K

 9/57/11

 92%

 109

$500K to $1 million

7/53/7

95%

94

TOTAL SOLD

 156

 

 

 *All data sourced from Houston Association of Realtors MLS as of 10/4/17 for homes sold during September 2017.

 All content property of Kate McQueen, www.SellMyCypressHome.com, RealtyONEGroup-Lone Star.

Overall, the Cypress real estate market is doing well though it has been shifting closer to a balanced market in recent months.

For more specific information concerning your home's value and market conditions in your area, contact me to receive a complimentary consultation.  Market time and value can vary considerably by neighborhood, depending on demand for homes in your community.

  

 

 

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