Champion Forest Market Update | April 12, 2022
Champion Forest is one of the pillars of North Houston, and fueled the suburban growth back in the 80s and 90s. Today we will be sharing with you a market update on Champion Forest. Only 3 homes sold this week in Champion Forest, with an average sales price of $129 a square foot, which is up from $116 in March!
There are currently 15 pending homes, which is 5 higher than last month's market update.
We have 9 active homes on the market. For a larger view of what is happening in the market, please reference the market update graphic for Champion Forest below.
Sellers, in Champion Forest the best forecasting tool is the DOM comparisons. This is because there are so many variables within the subdivisions. From age, home size, lot size, and many more. Let's geek out for a minute. Our data sets are medians and averages. What we are trying to accomplish is symmetrical distribution, meaning the average and median are close to the same number. From those two numbers we can explain what is generally happening in the market area and the direction the market is trending. So this year we have a reduction in average, and an increase in median, which is getting us closer to symmetrical distribution.
What this means is not only is the market becoming more desirable, but the list prices, marketing, etc. for homes are also improving. This is a great thing because it shows that your real estate agents have a good grasp on the market, not perfect, but better. Let’s compare that to last year where you had a much higher average and lower median. This means that the market is unstable, and homes are more than likely priced incorrectly, sellers have unrealistic expectations, home conditions are poor, or possibly all 3. So in short, you are trending in the right direction right now. Yay!
Buyers, symmetrical distribution also favors you because you are able to take the list price more seriously. You don’t have to speculate on if they listed low to start a bidding war, or high to just see what they can get. This makes it far easier to come in with a competitive and reasonable offer. Like many of the sought after subdivisions around, Champion Forest has low inventory as well, so making a solid offer really counts. Also like many areas around, the prices are going up at unprecedented rates. If you want to buy, do it now!
Can we sell yours?
So if you are in need of a listing agent, we would love the opportunity to see your home and meet you of course. My husband, Edward, and I, look forward to being the brokerage and team for you! You can reach out to us via email: [email protected] or telephone: 832-493-6685.
If you are curious 'How to get more money for your home when listing it for sale', check out this blog post.
I hope you have found this blog post super helpful. If there is anything else we can do for you, including helping you sell (or buy) a home, I would be honored to assist. I hope you have a great day/evening. Cheers, E + J.
We are so happy you found our little corner of the interwebs. We look forward to y'all reaching out to us. We love to answer questions and welcome them. Recently we created some local maps, and you can download those by clicking the image/link above. Below, you will find an index of some very helpful information to assist you in learning more about the Houston suburbs. If you are relocating to our neck of the woods, we hope you reach out to us, because we would love to help you by being your local realtor and friend. Thoughtfully written for you. Hugs, Jo.
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If you are overwhelmed..
Now if you are feeling overwhelmed on where you should plant your roots, I would love to talk to you. You can schedule a call with me by click this link: http://byjoandco.com/call or just send us an email: [email protected]. There are some amazing communities all over the Houston suburbs. In this post, https://search.byjoandco.com/blog/best-neighborhoods-in-houston/, I deep dive into all the different suburbs/neighborhoods that you might want to consider, and why. There are many resources here, so please reach out if you are curious what to look at next! Thank you for trusting us, Jo.
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