From the graphics I've inserted below, I have included the Multiple Listing System (MLS) statistics for the Lake Country Estates (a lakeside community on Eagle Mountain Lake, Fort Worth, Texas) and some of the immediately adjacent subdivisions which covers a period of 1 year.  The first graphic below includes the first six months of that period and the following graphic includes the last six months.  In comparison of these two periods, the following can be shown:

Average days on Market - has decreased from 111 to 100 (10% improvement)

Average Sales Price - Decreased from $252, 254 to $248,620 (1.5% decline)

Average Price Per Foot - Decrease from $89 per ft to $86 per ft (3.4% decline)

Please keep in mind that while this data is deemed to be reliable, the analysis of the data in this blog article is based entirely on averages from the MLS.  Many other factors can determine the value of your home such as:

• Waterfront property vs. non waterfront
• Condition of your home
• Location
• Age of the home
• Size of your home in comparison with immediate surrounding homes
• Size of lot on which your home sits
• Swimming Pool vs. no pool
• Various custom features and add ons
• Number of garage spaces
• Updated vs non updated
• Curb appeal and landscaping
• Other factors

Although you can look at statistical data until you have analysis paralysis, the above factors should sufficiently illustrate why you need a professional real estate consultant to provide a custom market analysis for your home.  It is not as simple as taking the square footage of your home and multiplying this figure by the average price per foot.  Your home may be in better than or lower than average condition by comparison to similar type homes and other factors must be considered as well.  The Christian Group is familiar with the properties in Lake Country Estates and we can help you more accurately determine the probable value of your home.

Give us a call today or email us and we will be happy to come to your home and provide you a free market analysis.

By Bernie Christian

Lake Country Estates and Adjacent Subdivisions

Statistics Oct 07 thru Apr 08