Real Estate Selling Archives - Sugar Land TX Real Estate Info

Sugar Land Real Estate Market

Dated June 2020

Sugar Land Real Estate Terminology

Buyer’s Market vs. Seller’s Market

The Sugar Land real estate market is constantly changing. The way we determine the type of real estate market we’re in (Buyer’s Market vs. Seller’s Market) is based on the amount of Inventory (homes available for sale) currently available. Six months of inventory is usually considered “equilibrium” —neither a Seller’s or Buyer’s Market. A Buyer’s Market is considered to be 7 months or more of inventory. This is where the demand for homes is somewhat less than the supply of homes and when Buyers may have more control over house prices than Sellers. A Seller’s Market is considered to be 5 months or less of inventory. This is where the demand for homes is somewhat greater than the supply of homes and when Sellers may have more control over house prices than Buyers.

Months of Inventory

Months of Inventory refers to the number of months it would take to sell all of the currently listed homes on the Sugar Land real estate market, with no new homes being added. This may also be called the “Absorption Rate” because it is the rate in which houses are “absorbed” in the current market. Generally speaking, if Inventory is greater than 6 months, then it is a “Buyers Market,” and if Inventory is less than 6 months, then it is a “Sellers Market.”

Months of Inventory =

# Active on the Market

(# Sold in Past 12 mths 12 mths)

Cumulative Days On Market

How long it takes to sell homes can be a good indicator for “how’s the market”? The longer it takes to sell homes, on average, the slower the market. So if the cumulative number of Days on Market is increasing, then the market may be slowing down, and if CDOM is decreasing, then the market may be speeding up.

“Days on Market” refers to the days a specific home listing has been on the MLS. If the real estate agent Terminates the listing and then relists it with a new MLS number, then the DOM resets. However, the Cumulative Days On Market should show the total Days on Market for that particular home, regardless of the number of time it is terminated and relisted by one or more real estate agents.

Keep in mind that areas with lower-priced homes will usually sell faster than luxury-priced areas, because the more affordable the home’s price, the larger the number of potential buyers, and the quicker it can sell.

Median Price

Median Price is not the same as the Average Price; it is the middle point for real estate prices. The Median Price is the price in the middle of all the sales prices for a certain time-period, with exactly half of the houses priced for less and half priced for more.

It is generally believed that the Median Price is the best indicator for market activity because it is less affected by abnormally low prices or high prices (which skew the Average Price).

Overall Market Data for Past 6 Months

The following data is for Sold single-family properties in the past 6 months as of June 2020.

ZIP Code	# Active	# Sold	Mths of Inventory	Median CDOM*	Median Sold Sales Price	Highest Sold Price	Lowest Sold Price
77479 (past 6 mths)	376	494	4.6	71	$379K	$2.25M	$175K
2019	n/a	1078	n/a	61	$364K	$2.3M	$165K
2018	n/a	1205	n/a	65	$380K	$2.7M	$155K
77478 (past 6 mths)	87	100	5.2	83	$321K	$4.9M	$165K
2019	n/a	267	n/a	50	$332K	$1.87M	$160K
2018	n/a	253	n/a	33	$323K	$4.7M	$145K
77459 (past 6 mths)	332	800	2.5	76	$296K	$2.6M	$125K
2019	n/a	1453	n/a	67	$295K	$1.87M	$118K
2018	n/a	1253	n/a	60	$298K	$2.1M	$87K
77498 (past 6 mths)	95	195	2.9	61	$236K	$800K	$120K
2019	n/a	463	n/a	32	$228K	$1.4M	$97K
2018	n/a	489	n/a	24	$220K	$778M	$80K

NOTE: The number of Actives on the market and Current Inventory is only applicable to now…we don’t know the number of Actives in the past.

Trends for Sugar Land (77479)

Trends for Sugar Land (77478)

Trends for Sugar Land (77459)

Trends for Sugar Land (77498)

⇒ See Pricing a Home Correctly

Get the Full Report!

So I put together my Sugar Land Housing Market Report for you, which covers:

List of the fastest selling neighborhoods in the Sugar Land area
Market data on the most popular neighborhoods
Ten-year trend of average sales prices by ZIP Code
List of the most expensive neighborhoods in the Sugar Land area

This is helpful information if you are thinking about buying soon.

Get the Report!

Updated as of June 2020

Brick Repairs in Sugar Land Area

Before a home owner puts a brick home on the market to sell in the Sugar Land TX area, a thorough inspection on the exterior of the home should be performed. All the walls should be checked for cracks along mortar lines and brick. The lintels above windows and doors should be checked for rust. Make sure that you look behind hard-to-see areas covered with bushes as well.

These kinds of cracks do not necessarily mean there are foundation issues…bricks and mortar crack very easily.
They do need to be resealed, however, with mortar (not caulk) to prevent water penetration into the side walls.
Call JQ Brick at 713-253-5092.

If you find any cracked brick or mortar, or rusted lintels, requiring brick repairs, then call a brick restoration company to have them repaired before you put the house on the market. If a potential home buyer sees these kinds of cracks, it may scare him away before he takes a serious look at the home. Or, if the cracks are found during an inspection, it can kill the deal. These brick repairs are relatively inexpensive (usually around $500 or less) and need to be done whether you sell or not…to prevent water penetration into the side walls.

Cracks in bricks and mortar may indicate foundation issues, but they definitely do not mean that the foundation definitely has problems. I’ve seen homes with cracks running the entire length of the home that did not require foundation repairs even after inspections by several foundation repair companies. However, most home buyers are not foundation experts and automatically think there are foundation problems when they see cracks in the walls…and move on to the next house to consider buying.

NOTE: If you have any concerns about foundation issues, contact a structural engineer or foundation repair company for inspections and estimates.

In Texas, there is a saying that all houses here either have foundation repairs or will need them in the future. That’s because the soil in most parts of Texas is an “expansive soil” that significantly expands and contracts based on the level of moisture in it. And since Texas is known for either droughts or floods…our soil tends to expand and contract a lot…causing the need for brick repairs on a regular basis.

That is why it is very important for homeowners to keep the soil around their home evenly watered. Water in the soil provides pressure to support the home. During a drought, the lack of moisture may cause a foundation to sag. Simply watering the soil can often push a slightly sagging foundation back up…no kidding!

Here is a must read for Texas home buyers: Buyer’s Guide to Slab-On-Ground Foundations by R. Michael Gray, P.E. and Matthew T. Gray, EIT.

Checklist for Showing Your Home to Buyers

When a REALTOR wants to show your home to a client, she will contact the Centralized Showing Service. They will, in turn, contact you to confirm the day and time. If the requested appointment is not a good time for you, offer an alternate time that is…but keep it as close to the requested time as possible.

Keep in mind that showing appointments are unpredictable. Most agents will set a window to show your home between, for example, 1:00 to 2:30 p.m. This means you should be out of the home by 12:55 and don’t return until 2:45. Due to the day’s showing schedule, the REALTOR and clients may not arrive at the home until 2:15 p.m.—which is why an appointment “window” is set.

Unfortunately, sometimes the REALTOR will have to cancel the appointment at the last minute…or sometimes they don’t show up at all. Remember that this is may be because the clients (potential Buyers) have either changed their mind or already decided on another home.

About 15 to 30 minutes before you need to leave your home for a showing appointment, do the following:

	1.	Make sure the temperature of the house is comfortable: cool in summer and warm in winter.
	2.	Many people are allergic to certain scents and deodorizers, so don’t spray the air or plug-in air fresheners.
	3.	Open all the window coverings to let in light.
	4.	For windows that show undesirable outdoor scenery, such as a dilapidated fence or a nearby structure that obstructs views, keep blinds partially closed.
	5.	Turn on every light in the house, including closet lights.
	6.	Put animals in crates in a safe, but out-of-the-way place such as a laundry room or garage. Some people are afraid of dogs and/or cats. Cover animal cages if possible…especially reptiles, snakes, and rodents.
	7.	Turn off TV.
	8.	If the house is wired for sound, leave classical music playing but very softly.
	9.	Make sure you leave house brochures on the dining room table or another place pre-determined by your REALTOR.
	10.	Leave the house. Don’t set the alarm unless you have left instructions with your REALTOR or the Centralized Showing Service. NOTE: If you bump into the REALTOR and Buyer on the way out, be friendly and cordial, but do not stay.

After an appointment, I will follow-up with the showing agent to obtain feedback for you. This may take a few days, so please be patient. Generally I send weekly reports to keep you up-to-date.