What are Houses Like Mine in San Antonio TX Selling For?

Written by Posted On Thursday, 23 November 2017 21:57

Home selling is not as easy as coming up with a price, posting it on a board along with a “For Sale” sign, and sticking it on the front yard. There are many things to do to sell the house successfully, and one of those things is coming up with a listing price.

 

Your home’s listing price is important, crucial even, in determining the success of your real estate endeavor. We all know that a home for sale listed at its right market value will have more potential visits and possible buyers compared to a home that is slightly higher in value.

 

Knowing how important price is, you’ve probably done a little bit of legwork already and scoped out the others homes and their prices. You’ve probably even compared your home to the amenities and features of the other homes.

 

Learning about your competitors will help you know what possible advantages your home has over them.

 

When you want an in-depth comparative report of homes and prices in your area, you need the skill and experience of the best REALTOR, like me, Melissa Wiggans. I can provide you a CMA report showing the prices of comparables in your community. This will help you price your home better.

 

A CMA or comparative market analysis is an extensive list of data which will give you an idea of the current market situation, along with information about comparables or homes similar to yours in size, age, location and condition.

 

It is a highly valuable tool for real estate agents, and to you as a home seller.

 

The following things are included in a CMA.

 

  • Active Listings - These are your comparables - they are homes with similar age, location, size, interior and exterior features to yours.

  • Sold Properties - These are properties that have sold in the past 12 months.

  • Pending Sales - These are properties that have an agreed upon contract but have not closed yet.

  • Expired Properties - These are properties that did not sell during their listing period.

 

Here are three benefits you can gain from the CMA.

 

  1. The information you will learn from the CMA will help you in deciding your home’s listing price, and whether you should push through with the plan of selling it fast or doing it slow.

 

  1. It can help you respond to offers sensibly. When you’ve seen the data, you’ll know that expired listings are homes priced too high for their market value. After changing your listing price to that of its correct market value, and depending on whether it is a seller’s market or a buyer’s market, you can easily decide which offer to accept.

 

  1. You’ll gain a better perspective on buyers' behavior when you’ve studied the CMA. Since it lists how many days the house was on the market before  it went under contract and then sold, you can see what buyers are actually willing to purchase and how much they are willing to pay for it.

The CMA will help you see the pattern of prices of homes for sale in San Antonio.

 

Here’s a graph showing the median price.

 

You’ll notice there is a rapid increase of the median price from March to September 2017. The median price of homes on March was between $518,000 to $524,000, but this month, the median price is now between the range of $561,000 and $567,000.

 

It is proving to be a great year to sell your home.  

 

Are you ready to know your home’s worth? Call me, Melissa Wiggans, at (210) 332-0310.  I can give you a free home valuation and you are under no obligation to list with me. I have been a real estate agent for more than 20 years and I truly love helping my clients with their real estate needs.

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