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Listing Update for 2817 Norfolk Drive

As of 1/19/2026

Hi Tom & Fay, 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

Results to date

  • 3 phone calls
  • 5 private showing requests
  • 2 Open house with 9 visitors
  • The home has been listed for 12 days

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)

  • 2 comparable active listings (your competition)
  • Active price range: $485,000 - $500,000
  • Average active list price: $492,500
  • Average days on market: 93
  • Average price / SqFt: $251
  • Click to see PDF report

Pending (under contract & has not closed yet)

  • 1 comparable pending listings
  • Pending price range: $440,000
  • Average pending list price: $440,000
  • Average days on market: 6
  • Average price / SqFt: $204
  • Click to see PDF report

Sold (closed in last 6 months)

  • 5 comparable homes sold in last 180 days (what buyers have paid)
  • Sold list price range: $400,000 - $530,000
  • Average sold price: $479,560
  • Average original list price: $527,000
  • Average sold price / SqFt: $234
  • Average days on market: 68
  • Click to see PDF report

78745 Market Stats for December (all single family homes)

  • Active number of listings: 164
  • Average list price: $538,545
  • Average Cumulative Days on Market: 87
  • Average close price: $571,136
  • Number of sales: 59
  • Average closed price per square foot: $327
  • Close price to original price ratio: 91.69%
  • Click to see PDF report

My Professional Opinion & Feedback Received:

After having your home on the market for nearly 2 week & receiving valuable feedback I believe that it's too soon to start making drastic price reductions or consider investor offers. 

My interpretation of the overall market in the 78745 zip code based on the stats I shared above is that there is a lot of available homes for sale which is your direct competition & sellers are having to make price reductions to get the home sold. 

The marketing for your home has been very effective & it's get a lot of attention.

The main theme of the feedback I've received is that the home is dated & too much of a project.

This means that the people who have seen the home believe that the current features need to be updated to their standards.

There are a lot of homes in the area that have been fully remodeled & selling at a higher price but the average buyer is not willing to take on that project. They prefer to have it already updated & pay a higher price.  

Some of the specific features I've received feedback on is the wall paper, paint & the main bathroom. 

Your home is priced on the high end of the range I originally recommended which was $475,000 - $525,000 & I believe that the current time of the year is also a consideration that attributes to the current average of 87 days on market.

As an additional point of consideration, the average 30 year fixed conventional mortgage rate is 6.07% which part of every home buyers decision making process.

Rates are starting to come down slowly & you can see more details here: Average Mortgage Rates.

My Recommendation:

I recommend that we keep the price as is for this week then look at making a small price reduction to $519,000 next week. 

Please share your thoughts & feedback.

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