What's Happening in Four Point: Market Update

The October numbers are officially in, and they paint a fascinating picture of our local real estate landscape. These statistics are suggesting a highly segmented market that requires strategic thinking.

While the drop in average sales price is certainly alarming compared to our peak, the fact that we've sold 20% more homes while simultaneously seeing Days on Market drop by 15% tells a clear story: the market is moving, but only for certain homes.

In the Market vs. Out of the Market

Right now, we are seeing what we call the "Tale of Two Markets." A property is either "in the market" and selling, or "out of the market" and sitting. What makes the difference? Two critical factors: Price and Condition/Updates.

1. Price is Paramount

Naturally, if a home is priced too high, it is immediately "out of the market." Buyers have more choices now and are unwilling to overpay. Setting the right list price from day one is more crucial now than ever before.

2. Condition & Updates Matter More

Beyond price, the condition and level of updates are determining factors.

• A home can be in very good condition (well-maintained, clean), but still be "out of the market" if its style and features don't meet today's standards.
  
  
• Buyers are constantly comparing resale homes to new construction. If your home lacks the modern updates (think current kitchen finishes, bathroom styling, and open-concept layouts) that new builds offer, buyers will demand a significant price discount to compensate.

If your home is well-priced and has current updates, it will move quickly. If either of those factors is missing, the home could be "out of market."

If you have questions about where you should be putting your money before listing, please don't hesitate to reach out. We're here to help you get "in the market" and achieve the best possible result!

Let us be your resource, contact me at (512) 261-1000 or Gene@genearant.com