Posts Tagged ‘ Georgetown Real Estate ’

November home sales in Georgetown, TX

Tuesday, December 16th, 2008

The holiday season has kept me from posting as often as I’d like. For the past week or so, I’ve been planning to write a nice, meaty article about home sales in the MLS areas of GTE and GTW (Georgetown East and West). Finally, today is the day. Hurrah!
Georgetown Texas real estate
I had a recent online conversation with a former math teacher who suggested I provide information on the mean sales prices, rather than the average. Instead, I decided to do both, and to throw in the median prices, too. For the past five Novembers, the mean and median sales prices were nearly identical.
Georgetown Texas real estate
As you can see clearly from this chart, the sales prices have continually risen, even in today’s tough real estate climate. For those of you trying to sell a home out there, please don’t use this as a reason to price your house too high. There are a lot of homes on the market. 597, to be exact. With just 57 sales this past November, that means we have more than 10 months of residential inventory at the moment. Buyers have the power. If you want to sell quickly, you need to price your house to sell.
The chart below tells another chapter of the November sales story. In 2007, homes spent an average of 74 days on the market. This year, that number jumped to 91 days. One home spent 330 days on the market before finally selling. That’s nothing compared to a house in Sun City Texas that’s been on the market but is finally now under contract. If you want to sell your home and get on with your life, then price your home to sell. Give the buyers such a deal that they simply can’t resist, and know that you’ll probably get just as big a deal on your next house.
Georgetown Texas real estate

Homes on 1 acre + ($200,000 - $325,000)

Thursday, December 4th, 2008

Yesterday, a reader called me to ask for some very specific information. He’s trying to decide whether or not to buy a home, and he wants to get started by doing his due diligence. Smart! He wants to get to know the market so that when he’s ready to buy, he can make an informed decision.
He asked me if I could help him find some information about homes with at least an acre that had sold over the past two months for $250,000 to $325,000. I expanded that a little bit and started my search at $200,000. A little more information never hurts. I told him that I would write an article about my findings, and that I would send him a spreadsheet with more details.
I love when people call me to ask specific questions. This website is much more fun and interesting with that interactive element. I created HometownGeorgetown.com as a way to meet people who are interested in buying or selling a home, so I’m happy when my phone rings. All I ask in return is that when you’re ready to take that next step, you keep me in mind. Give me a call at 512-876-6544 or email me at jenel@HometownGeorgetown.com. I’m here to help!
Ten properties came up in my search of MLS areas GTE and GTW. The map to the right shows the location of these properties. The newest of the homes was built in 1997. The average year built is 1983. Newer construction on 1 acre plus tends to be priced significantly higher. Georgetown Texas home sales
I was surprised to find the majority of the sales were west of the freeway, in the MLS area known as GTW. I had expected to find homes in this price range to be in GTE. A couple of the homes are in Serenada, which is one of my favorite neighborhoods. The trees in Serenada are incredible. They’ve been there a long, long time, and so they look substantial and comforting. Just gorgeous.
The average sales price per square foot of these homes was $126.39. This number was brought up by one property that is on nearly 9 acres. When we take this property out of the mix, the average price per square foot drops to just over $120. This particular property sold the fastest, spending just a couple days on the market before going under contract. The average active days on market for the ten homes was 133. During the properties’ time on market, the list prices dropped by an average of about $43,000. This average was brought up drastically by the price reduction of almost $200,000 on two of the homes. The owners of those two homes obviously started out with a very unrealistic view of the worth of their properties. When you take these two homes out of the mix, the average price reduction was a much more reasonable $7,635, or 3%.

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