Keep Up with Your Biggest Asset: Your Home

July 22, 2024

By Isabel Guzman, Realtor®

Video Transcription

Hello, Mockingbird Heights neighbors!

For most of us, our home is one of our biggest assets, right? So, it’s very important that we keep up with what’s happening in the market. Well, that’s what this video is about today. Let’s talk about what has occurred in the last five months in Mockingbird Heights from January 1st through May 31st.

In the first five months of the year, eight homes were sold in Mockingbird Heights. On average, the sale price was $347,000, and the homes were on the market for an average of 78 days. Now, seven out of the eight needed a price reduction before getting that contract. The absorption rate for Mockingbird Heights during this period was 4.3.

Now, let’s compare this to the city of New Braunfels for the same period. For the entire city, including single-family homes, resale, and new construction, the average days on market was 90, which is very similar. The average sale price was higher at $463,000, but the median sale price was a little bit more comparable at $364,000. The absorption rate for the city was 6.2, compared to 4.3 for Mockingbird Heights.

What this means is that homes in Mockingbird Heights are doing a little bit better in terms of selling rate in comparison. When we have an absorption rate under 5 months, we are considered to be in a seller’s market. Anywhere around 6 months is considered a balanced market, and anything over 6 months is considered a buyer’s market. So, as you can see, in Mockingbird Heights, we’re doing a little bit better in terms of selling rates.

As always, if you’re thinking about selling your Mockingbird Heights home, it’s important that you hire an agent familiar with the area who can provide the very best service. No one has sold more resale homes in Mockingbird Heights than me, so give me a call—I’m always happy to help!