December 14, 2017

FAQ - What homes are selling for in Coppell, TX

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One of the questions I'm asked most often is "what are homes selling for in Coppell?". Or, "what is the price per square foot in Coppell?".

Those are questions without an easy answer, or at least not an easy answer to the real question they have, which is either "how much is my home worth now?" or "how much will it cost me to buy a home".

You see, truthfully I can tell you that the average price per square foot of single family detached homes sold in Coppell from January through November 2017 was $162.46 per square foot, and the median price was $163.05 per square foot. Does that mean that you can take either of those figures and multiply it by a given home's square footage, and that's the amount the home should sell for? NO, not necessarily.

Let's look at the numbers in a little more detail. The lowest sold price per square foot was $78.82, and the highest was $293.96 out of 503 homes sold. That's an incredible 273% swing from low to high. So, maybe we need to drill down further.

One of the HOA's in Coppell is the Lakes of Coppell. Within this HOA, the average sold price per square foot was $156.69, with the median at $158.14. So we can see that the homes that sold in this HOA are a little lower than the overall averages within Coppell. But, there is still a wide swing from low ($117.53) to high ($190.66) - about 62%.

Drilling down even further, we find that there are several subdivisions within the Lakes of Coppell. Looking at one, Villages of Coppell (which had multiple phases), we see that the average sold price per square foot was $150.44 and the median was $152.04. The swing from the bottom of the market ($117.53) to the top of the market ($172.08) is lower (at about 46%). 

So even at that level, that's not enough for me to tell you with any degree of accuracy what any specific home within the Villages of Coppell would sell for (or what it could be bought for). 

To get a true analysis, many other factors must be considered. Is the home a one story, or a two story? Is the size of the home 4,000 square feet, or is it 2,000 square feet? Does it have a unique view of a park, the canals, or the creek? What updates does the home have, compared to other homes that have sold? What updates is the home lacking, compared to other homes? Are there obvious maintenance issues? What is the relative curb appeal? I can go on and on! If you want a true analysis of what your home could sell for (in Coppell or any other community within the DFW area), or of what you could buy a home for, please contact me! That is a big part of what I do all the time, because every neighborhood is different.

If you are currently looking to buy a home in Coppell, NOW is a great time! We are currently showing that there are 98 single family detached homes for sale within Coppell. And, because I know you want to know even though I explained why you have to take it with a grain of salt above, the average listed price per square foot is $185.88, with the median at $181.11. The lowest priced home is at $264,500 and the highest is at $2,999,500, with the median at $564,900.

I can provide even more numbers for you to consider. For the greatest benefit, contact me and let's talk about specific homes!

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