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November 2019 – “It’s the Most Wonderful Time of the Year” for Buyers

It’s the Holiday Season and the “most exciting time of the year”. Especially for Buyers. Remember, on “Miracle on 34thStreet, where little Susan Walker (Natalie Wood) wanted a home and Santa told her “if you believe, dreams come true”. Well, this December, you too can have a “Miracle on 34thStreet” ending. There is not a better time to be a Buyer. Just like with “Black Friday” and “Cyber Monday” there are plenty of great deals. Financing? Interest rates could not be better and have dropped to near all-time lows. Selection? Santa has lots of good choices in your size and price range too. So, this Holiday Season we invite you to come to Fulshear to change your life, your children’s future and to discover why here is one of the most desired and fastest growing areas in all of Houston. There just isn’t a better place to live other than Fulshear; because dreams do come true here!

November Results For Zip Code 77441:
Just as most of the year has been, the results for November have pretty much mirrored the Texans. They win some exciting games, and then, turn right around and disappoint with a loss. Overall though, they post above average results and are first in their division.Yet, they lack a consistency of winning. The same is true with our real estate market. November was a typical month where I was pleased to see a slight decrease in Active Listings along with a slight increase in the number of homes in Pending. However, Solds dropped and the “Months of Supply” increased. Again, not bad results, just not really good either. In short, the market is searching for a consistent trend (hopefully, upward) but has not yet found it.

November Results by Community.

Weston Lakes:

Speaking of consistency, normally Weston Lakes is just that. However, that has not been the case the last few months. It has been “bouncing” around like an Elf with a basketball. Up one month and down the next. November was no exception. Best news is that Active inventory dropped from (49) to (45) which was very rewarding to see for this time of year. There are (7) homes in Pending Status which was up, but only from a Scrooge-like (5) in October. There were (6) homes that Sold, which is okay, just not fantastic. What was though, is that they had an average Sale Price of $534,500. Wow..that is impressive and this help confirm the exclusivity of Weston Lakes.

Fulbrook:

If there is a community that has been consistent, it has been Fulbrook. Active inventory has remained relatively stable the entire year, and November was no exception with just (7), which was the same as October. There was (1) home that Sold which too, is about average. It was rewarding for us though, because it was our Listing in Fulbrook Creeks and was on the market just (21) days, Sold at near full-price and at an impressive $154 per square foot. Unfortunately, what is also consistent, is that the “million dollar” homes are still having a tough time. Hopefully, Santa is getting ready to load up his sleigh and bring some Buyers to Fulbrook.

Fulbrook

Fulbrook On Fulshear Creek:
The backdrop of the results for November is best characterized by the metaphor “A Christmas Carol”. The residents are portrayed by Bob Cratchit who is a hard-working husband doing his best to take care of his wife and son; Tiny Tim. The “New Homes” are cast as the villain Ebenezer Scrooge, as they are making it very hard on the Cratchit family to sell their home. The story continues in November which was “tough sledding” for Sellers, but with some hopes remaining high. Active inventory dropped, albeit by (1) to (28). There are now (6) homes in Pending Status which is up from (2) in October. Scrooge was true to form though. Half of those in Pending were New Homes and only (1) Sold and that too was a New Home. “A Christmas Carol” has a happy ending though, and that too shall happen to Sellers in Fulbrook on Fulshear Creek.
Cross Creek Ranch:
You only have to drive thru CCR just once to appreciate what an extraordinary community this is, and why it is regarded as one of the finest in the nation. The overall results for November were relatively pleasing. Active inventory dropped to just (96) which is a long-ways from the days where it was hovered around (150).The Listings in Pending Status increased by (5) to (42), which was very good news for this time of year. There were just (17) homes that Sold though. This is down over 41% from October. Not good! Even worse? Only (2) of those were Resales, the Grinch (New Homes) stole the rest, along with 60% of those in Pending!

Fulshear Run:

There are mixed results for November. First, the good news. Active inventory remained the same as in October with (7) homes on the market; (2) of which are Resales. Okay, not too much good news. In the past, most of the homes were not only New, they were under construction. Now, almost all are fully completed. That may mean that Trendmaker may be wanting to make some families happy with some “Holiday Specials.” What could be a better present?

Fulshear Run

Polo Ranch:
Okay, the theme of this report has been the “Holiday’s, and the metaphor for Polo Ranch is that there has been an abundance of presents that have been given out to a lot of Buyers. Active inventory actually dropped by (1) to (18). That means there is still some inventory left for year-end Christmas shopping. And, homes are selling fast with (22) currently in Pending Status, so you’ll have to hurry. November also was witness to Polo Ranch’s first Closings. There were (5) and they averaged just over $219,000 and at $126 per square foot.

Summary:

Yep, the end of another year is almost upon us. Shockingly so, my next Newsletter will be written to report December results, which means the Holidays and New Year’s Eve celebration will be just a memory and we’ll be fast on our way into the start of 2020. As perspective, when I was a teenager in the 60’s, the turn of the century was really the “end of time” for me. Couldn’t even imagine living to see the year 2000 (this is what happens when you’re old and you reflect back). Even more so, I couldn’t imagine what it would be like living past it. Now, it’s a quick 20-years later!Just where does the time go and how does it pass so quickly?
Anyway, it is a bit early, but here is wishing you a joyful present, a well-remembered past, a happy Holiday Season, a Merry Christmas with stockings stuffed with presents and a magnificent New Year filled with fun and laughter along with an abundance of prosperity.
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