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Clear Lake Homes – Bay Glen Numbers Off Year to Date
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Bay Glen- If you own a home in Bay Glen and are selling it, the news is good. It’s a little tougher for buyers right now however as inventories are somewhat off. As of October 31st, there have been 53 sales this year while last year this time, there were 66 last year; even with our friend “Ike.”
Prices are holding their own at an average of $82.42 this year and $81.81 last so a modest increase of a little less than one percent. Homes are spending almost 20% less time on the market with the average number of days to sell a home in Bay Glen of 45 days as compared to 54 last year at this same time.
Seven of the nineteen homes currently on the market in the Bay Glen subdivision are under contract. This is a very good number; especially for this time of year. Keep in mind it’s not unusual for Bay Glen to have 35-40 homes to choose from- not so this year.
You’ll be pleased to note that only 3 sales this year in Bay Glen were foreclosures. Two have closed, and the one at 14515 Circlewood Way is under contract scheduled to close this month.
Contrary to popular belief, less than 5% of the homes for sale in the Clear Lake area are foreclosures. That number is higher in most of Houston.
The bill for the $8,000 tax credit extension is waiting for President Obama’s signature. This would allow first time homebuyers (as well as those who have not owned a home in 3 yrears) to receive a tax credit of $8,000. In addition the bill would allow current homeowners who’ve owned their home for 5 or more years to qualify for a $6,500 tax credit. We’ll see how it shakes out.
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