Sheila Moran ~Broker Bits~: Texas: Garden Ridge: Garden Ridge

What's happening in Garden Ridge, Texas?  Market statistics

As I'm preparing for my next listing appointment I pulled up some very interesting statistics on what is happening here in Garden Ridge, Texas.

I did a comparison of all SOLD properties between the 2nd quarter of 2010 and 2011.

Seems that in 2010 our average SOLD price was $319,575 and it took 98 days on the market for these to sell.  But something else jumped out at me when doing the comparison and that was the Average Sales Price to List Price being at 97% (some great numbers there)!  The sales price to the original listed price was at 96% (again great numbers).  Considering these numbers this tells me that pricing was great and time to sell was good for the 2nd quarter of 2010.

Now, let's look at this year's 2nd quarter, 2011.

2011 average SOLD price was much higher at $375,699 so seller's are actually getting more cash for their house.  But the sales price to list price was at 94% and the sales price to the original list price was at 92%.  The average days on market was 286.  What does all of this mean?  That seller's are listing their homes at a higher price point and having to make reductions or accept offers that are lower than what they would normally of had to accept.

What does this tell us in the current climate of the market for Garden Ridge, Texas?  That listing your house at the "market price" means shorter time on the market, not as many price reductions and less wear and tear on the Seller for showings.

Thinking about putting your house up for sale?  Call me I would love to run the stats on your neighborhood!