Listing Update for 18400 Sun Haven Cove

As of 11/10/2025

Hi Gracie, below is a recap of the marketing I've done so far, the results we've gotten, current market conditions & my recommendation going forward.

Marketing I've done so far

• Syndication to all the major home search website (Zillow, Trulia, Redfin, etc)
• Dedicated property website: http://www.18400SunHaven.com/
  
• $1,231.94 in marketing costs (collective)
• 19,485 Impressions with 156 clicks
  
• 298 views (Last 30 days) on Zillow with 28 saves (Last 30 days): https://www.zillow.com/homedetails/18400-Sunhaven-Cv-Elgin-TX-78621/70348856_zpid/
  
• 52 reverse prospecting & marketing to other Realtors

Results to date

• 5 phone calls
• 6 private showing requests
  
• 2 Open house with 5 visitors
• The home has been listed for 59 days (307 collectively)
  

Market stats for comparable homes

Criteria used: 2 story single family home, between 2000-2599 sq ft, active, pending & sold within 180 days

Active (available for sale)

• 4 comparable active listings (your competition)
• Active price range: $250,000 - $289,999
• Average active list price: $270,999
• Average days on market: 68
• Average price / SqFt: $127.50
• Click to see PDF report
  

Pending (under contract & has not closed yet)

• 0 comparable pending listings (what buyers are paying)
  
• Click to see PDF report
  

Sold (closed in last 6 months)

• 1 comparable homes sold in last 180 days (what buyers have paid)
• Sold list price: $290,000
• Original list price: $319,000
  
• Price per square foot: $137.90
  
• Click to see PDF report
  

Elgin Market Stats for October (all homes)

• Active number of listings: 199
• Average Cumulative Days on Market: 99
• Average close price: $284,467
• Number of sales: 26
• Average closed price per square foot: $173
• Close price to original price ratio: 97.81%
• Click to see PDF report
  

Professional Opinion & Recommendation:

The price of your home is slightly above your competition in the resale market. 

There are 121 new homes available on market in Elgin which is also your competition.

The new homes are priced at a higher price but they're offering aggressive rate buy downs & thousands towards closing costs.

I believe that the combination of both points along with the time of year is why we're not seeing a lot of traction with your listing. 

I recommend that we do a price reduction of $5,000 today with another $5,000 price reduction every 2 weeks until we attract a buyer.

As a comparison, the contract we did have was at a selling price of $280,000 with a $10,000 seller credit which is the same as selling the home at $270,000. 

As an additional point of consideration, the average 30 year fixed conventional mortgage rate is 6.34%. Rates are starting to come down slowly & you can see more details here: Average Mortgage Rates.

Please share your thoughts & feedback.