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League City Houses – What’s Up With Brittany Lakes Subdivision
62 single family homes sold in Brittany Lakes this year so far. There were 77 at this time last year The downward shift may be in large part due to dwindling builder inventory. Last year according to MLS stats, there were 18 new construction homes sold while there were only 5 this year. Keep in mind of course that not all builder homes make it to the MLS.
The average sales price of a home in Brittany Lakes this year was $196,926 as compared with $205,548 this year. Homes are taking a bit longer to sell as well with an average market time of 87 days this year; 70 last year. The days on market is determined by the number of days between the time a home is listed and the time it has a contract, not the closing. As a general rule, you can add about 30 days to that to get a “drive out” time. The time from the sign going in the yard until the moving truck pulls up.
I haven’t taken the time to calculate it yet but I would be willing to bet money that the number of days to closing has increased with our “new” mortgage market. League City mortgage loans are just taking longer to process these days with the new rules. And, you’re about to see more changes in 2010 so stay tuned. There was a time just a couple of years ago when you could write an offer and close it in as little as 2 weeks. I saw one where the family wrote an offer on a Friday and actually closed it the next Thursday. And it included a mortgage!
You can search for all League City houses on our website. Or check out our free Brittany Lakes House Prices report if you live in the neighborhood and are curious what your home might be worth.
If you’d like, you can give me a jingle (ok it’s the holiday season and I couldn’t resist!) at 281.336.3175 or join me on Facebook at www.Facebook.com/johnthomasduncan
