Green Trails Market activity

Green Trails is a beautiful neighborhood in Southeast Katy area and it is zoned to great schools such as Nottingham Elementary and Taylor H.S.   It also has fast and easy access to I-10 that is on the Houston side of most of the Katy Traffic, if you are working in the energy corridor Green Trails or Nottingham Country are the places to be.  Most of the Houses were built in the late 80's to mid 90's, so the tax rate has reduced somewhat down to 2.6%.  For me the real appeal of the neighborhood is the closeness to the walking trails that go around the neighborhood, out around the retention ponds and then connect out to trails in George Bush Park.

The attached chart looks at pricing and days on the market information for the first 7 months of the year going back to 2006 for 4 bedroom houses in the neighborhood.  The average price has gone down slightly from $400k down to $380k, and the average days on the market has increase from 10 days in 2014 to almost 30 days today.  Those days on market for this year are actually skewed higher by just a few houses that were priced above market, the median days on market is only 13 days, while the average is twice as high, meaning half of the houses were sold within 13 days.  Accurate pricing is key.    Of the 47 houses that have sold this year, all but one of the 23 houses that sold within 2 weeks sold without a price reduction,  3 sold above asking and the rest were within 3% of asking price.   Looking at the slowest selling 10 houses none sold above asking price, and 7 of 10 sold with one or more price reduction, some several months after going on the market.

Having a great house in a great location will get it sold quickly unless it is priced above the market.  Even in the current market that is slower than last year, and much slower than 2014 houses are still being bought at market price, the key is to know what is the market price and price it right.  Market the house correctly so that the most people possible see it in the first 2 weeks, they will see the value and buy it.