HometownGeorgetown.com

Buyers are back! I believe it. I’ve seen evidence of it at my office, and I’ve heard from other agents and builders in town that their properties are being shown a lot. The numbers don’t yet reflect this trend, so the evidence is all anecdotal. Either buyers are taking their time to look around a lot before making an offer, or their offers are simply not being accepted in great numbers.

Of the 46 new listings, 19 are priced between $100,000 and $200,000. Affordable family homes are out there. The median home price for the new listings is $221,225, but that number is skewed by one listing with an asking price of over $2 million. When you take that one out of the mix, the median home price is $219,500 on the new listings. The median home prices on those homes that went Pending this week (an offer was made and accepted) was only $176,900, and the median sales price on the homes that sold was only $187,500. The comparison between average price per square foot is interesting, too.

So does this mean that a home that’s priced at $150 per square foot is way overpriced? Not at all! The finish-out on homes makes a huge difference in the price per square foot, as it should. For example, a home with granite countertops should cost more than a house with formica countertops. That just makes sense. All this chart shows is that the homes that are currently selling are priced lower per square foot than most of the homes that are currently being placed on the market. Now, those sellers who are in a hurry to sell (i.e., motivated) might want to lower their asking price to reach a level where more buyers are currently looking for homes.

I’m going out today to take a look at a great four-bedroom country home with five acres outside of Georgetown that’s priced at just over $200,000. It was built in the 1980s but recently remodeled. If that sounds intriguing to you, please give me a call at 512-876-6544 or send an email to me at jenel@HometownGeorgetown.com so I can give you more information. Of course, if your dream home is not a house in the country, I can still help!