Gleannloch Farms Market Update | April 12, 2022
Let's find out what is happening in the real estate market in the neighborhood of Gleannloch Farms in Spring, Texas. In the last two weeks, 7 homes have sold in Gleannloch Farms, with an average sale price per sqft of $142, which is down from last month's market update.
There are currently 17 homes pending, which is only 1 less in comparison to last month.
There are currently 10 active homes on the market in Gleannloch Farms, which is up! There is not a lack of inventory in Gleannloch Farms, which is amazing, but is also some of the driving force behind the low price per square foot. Another reason for this, is the rise in interest rates. Most of my below $500,000 buyers have hit the pause button.
For a larger overview of the real estate market, feel free to reach out, and here is this month's graphic...
What does this mean for sellers? You should expect to get about 29% more for your home this year and you will have low competition due to inventory, much like last year. The troubling thing you see here is the DOM. Normally in neighborhoods where the inventory is low, the DOM is directly proportional, so why are you seeing an inverse relationship? Simply put, homes aren’t being marketed properly. Price is the major driver, but there is a lot that goes into getting a home sold quickly, and for the right price. The real estate team responsible for the most listings in the neighborhood is also responsible for the 2 active homes with the highest DOM right now,both of which have had price reductions. Just some food for thought. Bottom line, do some research before you list, don’t always hire the name you see plastered all over the neighborhood.
Buyers, you will have slim pickings as usual. Based on DOM some sellers in the area may have some unrealistic expectations of their home value. It does not appear this neighborhood is trending in the direction of a “HOT” market like many others around, though that seems largely due some people being unwilling to follow market trends properly.
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.
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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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