3755 Bellefontaine St.
On this page you will see my analysis made on this property and my descriptive advice on how to approach 3755 Bellefontaine.
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Dashboard Analysis:
My team's dashboard is our proprietary advantage to serving our clients. Here's what it tells us about this house and subject market. Over the last 6 months homes in the subject market area with similar home size and similar lot size that are single-family detached houses there are the following:
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35 sales
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$1,500,000 / $320 psft Median Sales Price
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Taking 38 days to sell
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Seen a 30.4% Year over Year price appreciation
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Newer in age than most houses
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Sell for 95.2% of their original list price.
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2.74 months inventory which is low.
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Watch my YouTube channel Houston By The Numbers for unprecedented analysis of Houston markets.
What does it all mean? 35 sales is good volume. This means for this criteria of a home, we have a pretty well established trading market for this home and area. With a median sale price of $1,500,000 it appears that the list price of $1,990,000 is too high. However it only means that the asking price is in the upper 50 percentile of the market. Since it is brand new and has a very appealing architectual design we can place it in that upper half but by how much? For that we use the dark blue number in the top gauge of the dashboard labeled "Market Value" which shows us $2,108,192. As of today this April 8, 2023, this indicates that $1,990,000 is at least $128,000 in market equity position considering the market forces of the last 180 days. Further, homes are selling for 30.4% higher than they were this same period last year on a median basis. So this house would have been a tough sell last year for sure but this year it makes more sense and that's worth mentioning considering the shifting interest rates. This market criteria house is robust it appears. Overall Houston sits at 3.13 months (as of today) for context. This means that if we stop listing houses for sale it will take 3.13 months to sell all of it. This specific area has a lower inventory level of 2.75 months which means that Braeswood Place area is in higher demand than Houston and it means you can expect prices to likely rise more. Lets take a look at the area:
Map review
This is great lot location:
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Upscale shopping a walk away.
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Twain Elementary an A-rated school, is an easy stroll.
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An interior subdivision lot is ideal for this area.
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I don't see any market related problems for this lot location.
So is it a good buy? Indeed and I can measure it to be about $128,000 market equity for you to add a pool in the back for example. But we still need to get the best deal. I will need to continue this analysis with my 6-part evaluation of the market. But a start is going by the market forces which say that this home criteria sells for about 95.2% of asking prices. An offer as such may go over well with this one. Of course, I would like to be your agent for this deal and write for you this offer. I DO NOT REPRESENT THE SELLER. The builder already has their listing agent. My fiduciary representation is with the buyer, you! I am better equipped and more analytical to help you make the best choice and negotiate the best deal on ANY PROPERTY. So let's stay in touch! Feel free to let me know what properties you are considering seriously and I will give you a thorough evaluation on it! Text/call at 832-622-7723. Email at Juston@Realetix.com.
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832-622-7723