Senna Hills Austin TX is having a somewhat slow third quarter thus far. There have only been five sales in compared to Senna Hills' second quarter's ten sales, however, we still have September to go, plus there are currently three properties that are pending.
What interesting trend are we seeing at the moment? Take a look at the below chart.
Of the 5 that have already closed, 4 of them weren't on the market very long at all. The three immediately to the left, which are the pending properties, are also showing a very low number of days on the market.
But, go to the far left part of the chart. These are the properties that are still currently active. There are several over the 100 day mark. This tells me and should also show the home owners that if they priced properly, their home can and will sell. If they choose to continue to price high, they will continue to sit...
Here's an interesting chart I have not shown you in Senna Hills before...
The properties that are selling quickly are serious sellers. They have priced their homes, however, they have also realized that if they want to sell, they need to negotiate. Granted, I'm not sure selling at 89% of asking price was the greatest move, and maybe they had inexperienced agents working for/with them, but they realized if they wanted to take advantage of today's rates and buy a new house, they would need to concede something on their current house.
Look at the bar for properties on the market over 120+ days. They're selling at 99%+ of their asking price. These are sellers who didn't need to sell, and were just entertaining the idea that if they get what they want, they'll sell. Who wants to keep their house in "show" condition for that many months to casually sell their home?
For example, let's say their mortgage, insurance, taxes and maintenance monthly on the house was $6000, pretty average for the price range of their neighborhood. Let's say they spent an extra 4 months on the market just to get that extra $25k. If they spent $24k to get $25k, was it worth it? Was it really worth it to keep their lives in a "pins and needles" state waiting for showings, and then waiting for an offer to come in? They made an extra $1k! And with rates as low as they are, they possibly have lost thousands over thirty years if they don't take advantage of the low rates fairly quickly.
Most times, when you sell at a price out of principle, you're going to hurt yourself in the long run if you only look at the sales price and not the domino effect of other pieces of the puzzle. If you're a home owner in the Senna Hills Austin TX community and want an honest look at your situation, contact me today and let's see if we can move you forward tomorrow!
**Are You Packed Yet?**
Donna Harris, REALTOR®
RE/MAX Austin Skyline
www.DonnaHomes.coma
Donna@DonnaHomes.com
Austin TX Real Estate and the surrounding areas of Lakeway, Bee Cave, West Lake Hills, Cedar Park, Round Rock, Spicewood, Circle-C, Steiner Ranch, and everywhere in between... Hill Country Austin TX Real Estate and beyond. Whether you're buying or selling an Austin home, I'll be with you every step of the way.
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** #1 Agent in my Office for all of 2008 **
Copyright© 2010 By Donna Harris, All Rights Reserved. You may re-blog with links back to this post.
* Senna Hills - Austin TX - Homes for Sale Market Report * was first published on donnahomesblog.com
Donna - this is really valuable information for your market and easy to understand at a glance. Good job!
I'll be doing a 2010 vs 2011 comparison later this week.