Listing Update for 18400 Sun Haven Cove
As of 6/9/2025
Hi Gracie, I'm working hard to promote your listing & find a buyer.
Below is a recap of what I've done so far to market your home, the results we've gotten, current market conditions & my recommendation going forward.
What I've done so far:
- Syndication to all the major home search website (Zillow, Trulia, Redfin, etc)
- Dedicated property website: http://www.18400sunhaven.com/
- $523.79 in marketing costs
- 195 Impressions with 153 clicks & 3 engaged leads
- 657 views (30 days) on Zillow with 75 saves (30 days): https://www.zillow.com/homedetails/18400-Sunhaven-Cv-Elgin-TX-78621/70348856_zpid/
- 51 reverse prospecting & marketing to other Realtors
- 153 emails & text messages to people in my database
Results as of 6/9/2025
- 5 phone calls
- 4 private showing requests
- 1 Open house with 1 visitor
- Your home has been listed for 19 days
Current market conditions of similar homes:
Criteria used: Single family homes, active, pending & sold within the last 180 days, within the 78621 zip code, built after 1998, between 2,100 - 2,500 square feet
Active (available for sale):
- 10 comparable active listings (your competition)
- $308,448 average list price
- Active price range: $249,990 - $329,490
- 70 average days on market
Pending (under contract, not yet closed):
- 4 comparable pending listings (what buyers are paying)
- $301,707 average pending price (may be higher or lower after closing)
- 4 comparable pending listings (what buyers are paying)
- $301,707 average pending price (may be higher or lower after closing)
- Pending price range: $299,999 - $305,000
- 41 average days on market
- Click to see online report
- 41 average days on market
- Click to see online report
Sold Listings (closed):
- 3 comparable homes sold in last 180 days (what buyers have paid)
- $308,321 average closed price of
- Sold price range: $269,975 - $329,990
- 112 average days on market
- Sold on average 92.70% of original list price
My Perspective:
The market continues to be a challenge for resale homes in Elgin.
The good news is that presents very well & is priced competitively compared to the rest of the available homes in Elgin but a lot of the homes available for sale are a lot newer & priced very close to your home.
Unfortunately, this has not translated into a high amount of showings & interest buyers.
The main challenge right now is generating interest in your home over the new homes being built in Elgin that come with financing incentives & closing cost credits that come out to about $30,000.
Interest rates have gone up a little since my last update. The average 30 year fixed conventional mortgage rate is 6.95%. You can see more details here: Average Mortgage Rates.
My recommendation:
Since we are still realtively new to the market I recommend that stay at the current price for 1 more week & to do another open house this weekend.
If we still do not get any traction with finding a buyer then I'll recommend offering a $2,500 buyer incentive to compete with the builders incentive.
You do not have to match the builders incentive dollar for dollar.
Doing that will allow me to do a fresh round of marketing with the new incentive offered.
Let me know your thoughts & feedback.