Knowing what you house will bring on the open market is a complex question to answer. One of the tools a Realtor uses to price your home is a Statistical Market Analysis.
Pricing your specific home takes into account many more factors that address the home's individual features. This exercise is meant to show the health of the market in the subdivision. This comes into pricing as when there is a shortage on the market you might be able to price your home higher than if there is a over supply and buyers can be choosy.
You can better understand this process by looking at the data bellow. Today we are looking at Thornbrook Subdivision. We are looking at all the homes that have sold, have gone under contract, or are currently active in the past year. It is important to not mix apples with oranges, or in this case basements with slabs so we have separated these two categories. The first SMA shows Thornbrook homes with basements. 59 homes have been presented to the market in the past year. 28 homes are currently on the market and 5 homes are under contract. 26 homes have sold. This means that we have a ratio of 28/31 (Pending are added to Solds as they represent the homes that today's buyer can not have. This shows the supply to demand ratio for the year. This is a healthy supply to demand ratio for mid Summer.
All Thornbrook Subdivision with Basements (1 year)
All Thornbrook Subdivision Slabs (1 year)
Look for information about the health of the market in your neighborhood in upcoming weeks as this series continues. For information on the Columbia market as a whole look bellow.
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Text T1004239 to 85377 for more information
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Text T1527500 to 85377 for more information
Text T997162 to 85377 for more information
