May Results for Zip Code 77441
May Results by Community
Weston Lakes:
Fulbrook:
Well, good news that there are (2) homes on the market. Yet, both are “exceptional”, with one testing the market at over $400 per square foot. So, we’ll see how well the market reacts to both. There is (1) home in Pending, and there is a reason why it went under contract in just (5) days. It was priced below $1 million and had some exceptional features that most any Buyer would want. There were also (2) homes that Sold. Both at $825,000 and both at around $250 per square foot. The one on Tree Farm Lane though, set a record for the highest price for this David Weekley section. The moral is, price a home to the market, and it will sell.
Fulbrook on Fulshear Creek:
Cross Creek Ranch:
The Active inventory has been increasing in “size” and it rose dramatically from (63) in April to (92) in May. This is mostly due to the New Home Builders though, trying to catch up to demand. Hopefully, they didn’t “overshoot” by providing too much supply. Regardless, it’s good news for Buyers that finally have more choices. Although, prices will be higher. That’s because nothing is reducing building costs and this should be a stabilizing factor more so in Fulshear, since the market is driven by New Homes. There are (59) Listings in Pending Status, and again, these are mostly new homes. That’s good news for the Resales because most of the New Homes are under construction and could be months before most are completed. Most rewarding is that (40) homes sold and they averaged $687,364 and $203 per square foot. This was about the same as April. So, no market correction on Price.
Fulshear Run:
Polo Ranch:
The number of available homes on the market, increased again in May to total (24). And, there were just about as many homes in Pending with the month ending with (23). It’s always a mystery though, as to where are all the Sold homes are. Although, there were (8) in May, I can’t seem to figure out why every month there is always more in Pending that never seem to make their way to Sold Status. Not sure why? However, the ones reported did average $330,592 and at $186 per square foot.