Thursday, September 18, 2014

Whispering Lakes Ranch Report-Home Sales Update through August of 2014

The lead story for Whispering Lakes Ranch in League City, Texas through August of 2014 is that sales prices per foot jumped 7.2% when compared to the same time frame in 2013.  That is a substantial increase in equity for existing homeowners and hopefully a nice predictor of things to come!

Other sales information as reported by the Houston Association of Realtors
There were 18 sales through August, 2014 ranging in price from $440,000 to $740,000 with a median of $532,000 ($119 per foot).  One third of those sales were of homes on Lake Landing and Pebble Brook but Mandy Lane got in the action with two sales.  Foreclosures have come to a screeching halt which has helped to elevate sale prices per foot.

2014’s sales through August are almost identical to 2013’s volume, with 2013 leading by 1 sale, at 19.  In 2013, the sales price range was fairly similar at $434,500 to $775,000 with a median of $555,000 or $111 per foot.

It is taking a little longer to achieve the higher price per foot though with the average days on market hovering around 60 days compared to last year’s 30 days or so.  I think waiting an extra 30 days to get an additional 7.2% is worth it though.  On a $500,000 house, that’s an extra $36,000.  Not bad!

James Brockway is Broker/Owner of Brockway Realty, LLC a residential brokerage operating in the League City, Friendswood and Houston areas with 15 agents.  James and his wife Penny, also a realtor, live in Whispering Lakes Ranch.

Originally Posted on Brockway Realty LLC's Official Blog