Listing Update for 2817 Norfolk Drive

As of 03/05/2026

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

• Syndication to all the major home search website (Zillow, Trulia, Redfin, Homes.com, etc)
• Premium promotion on Homes.com with 101,633 total views & 3 favorites: https://www.homes.com/property/2817-norfolk-dr-austin-tx/pnx349f4q6p4d/
• Dedicated property website: http://www.2817Norfolk.com/
  
• $1,038.23 in marketing costs (collective)
• 32,691 Impressions with 1,622 clicks
  
• 2,229 views (Last 30 days) on Zillow with 62 saves (Last 30 days): https://www.zillow.com/homedetails/2817-Norfolk-Dr-Austin-TX-78745/29495163_zpid/
  
• 159 reverse prospecting & marketing to other Realtors

Results to date

• 12 phone calls
• 16 private showing requests
  
• 4 Open house with 12 visitors
• The home has been listed for 57 days
  
• Investor Offer at $450,000 / $435,000 / $445,000
  

Market stats for comparable homes

Active (available for sale)

• 2 comparable active listings (your competition)
• Active price range: $490,000 - $495,000 (adjusted)
• Average active list price: $492,500 (adjusted)
• Average days on market: 20
• Average price / SqFt: $238 (adjusted)
• Click to see PDF report
  

Sold (closed in last 6 months)

• 4 comparable homes sold in last 180 days (what buyers have paid)
• Sold list price range: $387,800 - $505,000 (adjusted)
• Average sold price: $453,950 (adjusted)
  
• Average sold price / SqFt: $234 (adjusted)
• Average days on market: 70
• Click to see PDF report
  

78745 Market Stats for February 2026 (all single family homes)

Source: Local MLS (Austin Board of Realtors)

• Active number of listings: 174 (was 166 in January)
• Average list price: $594,132 (was $562,929 in January)
• Average Cumulative Days on Market: 111 (was 100 in January)
• Average close price: $519,323 (was $568,069 in January)
• Number of sales: 26 (was 27 in January)
• Average closed price per square foot: $316 (was $332 in January)
• Close price to original price ratio: 89.81% (was 93.41% in January)
  

My Professional Opinion & Feedback Received:

Now that we have started to have structured price reductions I've been seeing a lot more activity in my marketing & showings.

Feedback I've received from retail buyers is that it's a nice home, the location is great but the home is too much of a project. 

It takes a certain type of retail buyer to have the vision of what it could be & the additional funds to make the improvements after closing on the home.  

I believe that we're on the right track with the plan we have & that we'll get a qualified buyer within the next 30 days.  

As an additional point of consideration, the average 30 year fixed conventional mortgage rate is around 6.13% which part of every home buyers decision making process.

My Recommendation:

I recommend that we continue on the current plan of structures price reductions as I continue to market your home to retail & investor buyers.  

Please share your thoughts & feedback.