Pearland Texas Real Estate Market Trends
It is that time of the month to look back to see how the real estate market in Pearland TX did compared to the history and to look where it might be headed.
In this story, I will be looking at the 2 zip code of Pearland, 77584 and 77581. For the most part, Pearland is following the history of what it has always done.
Sales Absorption
First, let’s look at the market dynamics of something called sales absorption. This shows the trends of how the market is doing and where it might go. Looking at February 2011, Pearland only sold 77 single family homes, compared to February 2010 in which we sold 93 or a 17% decrease. Pearland home sales always tend to start moving upward this time of the year and this year is not going to let us down. One of the key things I look at is how many houses are going under contract compared to the previous months. Pearland only had 10.6% of the homes for sale under contract. That number is off from this time last year and the year before. Last year we were sitting with 14.3% of homes under contract and in 2009 we had 12.9% right after Ike.
Looking at the chart above, one can make the assumption, we might be starting to really come out of the slump Pearland has been in since Ike hit the Pearland area.
Supply and Demand
Next, let’s look at the key market item called Supply and demand. This will show you what is really going on in the Pearland Real Estate Market. At the end of February, Pearland had 1129 homes for sale, 120 homes under contract and 77 homes that where SOLD. The trend is flat for the number of homes for sale and trending up for both homes under contract and that where sold. In my blog looking at the December 2010 stats, I stated that I thought the market was going to start it’s uptrend and I was correct... I think the Pearland real estate market will catch fire starting right now and continue it’s upward growth in price and the total number of home being sold.
Months Supply of Inventory
The next chart will show some good news. It shows that Pearland’s housing market is starting to level off and make the move back to a neutral market. NAR, National Association of Realtors, tells us that 6.5 months of inventory is a neutral market. At the end of Feb 11, Pearland only had 7.5 months of inventory available, but the time to sell your house is now taking about 106 days on average. If you look back at Dec 2009, you will see we had 12.8 months of homes to sell in Pearland. How long it takes your house to sell is all dependant on how you price it in the market. If you price your house higher than average, it will take longer to sell and if you price your house below the market, it will sell faster.
Median Price of Sold Homes
As I predicted back in Dec 2010, the median sales price for homes in Pearland in starting it’s climb. Pearland’s median sales price was $176,000.00 at the end of Feb 2011. That price is up after 4 straight months of decline. But Pearland is still not back to it’s high of $192,000 from Sept 2010.
Now is a good time to Buy
Because interest rates are low and the Pearland real estate market is soft, NOW is the time to make your move. Think about it, if you have any equity in your house, you might not get as much as you might have gotten a few years ago, but now you can get the house you have always wanted for a much lower price.
Call me to discuss your specific needs. Let me show you how and why NOW is a good time to sell and move, to downsize, or to move into an area with better schools for your kids.
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Whether you're interested in buying your first home, your next home, or just want to know more about home-ownership in general, I encourage you to check out a couple of great online resources: http://www.texasrealestate.com/ or http://www.har.com/. And for all of your Pearland, TX and Northern Brazoria and Galveston County real estate needs, please visit my site at: http://www.danfrankrealty.com. All of these sites offer tons of useful, real estate-related information geared specifically for Texans.
Remember, Danny Frank is a local Pearland, TX Real Estate expert! You can see my entire blog at: http://www.pearlandrealtyblog.com
More and more homeowners are remodeling and making the most of their space with these top 10 hot trends in the kitchen.
- Kitchens are now featuring a “family room” feel with more seating and dining areas.
- The
most popular color choice for cabinets was white. It works well with
almost any architectural style – traditional to contemporary.
- Stainless steel appliances are still a big hit, especially the fingerprint-resistant steel finish.
- More and more kitchens are featuring custom additions such as pizza-making stations, coffee bars and wine-tasting nooks.
- Walk-in
pantries are popular for families and allow for ample storage of
surplus items and bulk purchase like paper towels and canned goods.
- Tech-savvy kitchens are featuring more electronics, like wall-mounted televisions and built-in sound systems.
- Eco-friendly kitchens boost water-conserving faucets, energy start appliances and eco-friend cabinetry.
- Built-in appliances that look more like cabinets are popping up across the country.
- Lighting
can convert from well-lit workspace to dimly lit formal dinner with
the flip of a switch. Recessed lighting combined with chandeliers will
do the trick.
- A
save-and-splurge mentality helps keep remodelers on budget. Choose to
splurge on appliances instead of countertops or a built-in wine rack
instead of a porcelain sink.
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Whether
you're interested in buying your first home, your next home, or just
want to know more about home-ownership in general, I encourage you to
check out a couple of great online resources: http://www.texasrealestate.com/ or http://www.har.com/. And for all of your Pearland, TX and Northern Brazoria and Galveston County real estate needs, please visit my site at: http://www.danfrankrealty.com. All of these sites offer tons of useful, real estate-related information geared specifically for Texans.
Remember, Danny Frank is a local Pearland, TX Real Estate expert! You can see my entire blog at: http://www.pearlandrealtyblog.com
COLLEGE
STATION (Real Estate Center) – Some 10,628 existing single-family
homes were sold in Texas last month, according to the most recent
Multiple Listing Services (MLS) data compiled by the Real Estate Center
at Texas A&M University. That's a 2 percent increase over a year
ago.
The median price was also up 2 percent from January 2010, at $139,100. There was a 7.3-month inventory.
January 2011 MLS data for many Texas cities (current as of today) are available on the Center's website. Here is a sampling:
|
|
Sales
|
Change from
Last Year
|
Median
Price
|
Change from
Last Year
|
Months'
Inventory
|
|
Amarillo
|
122
|
up 14%
|
$122,700
|
down 6%
|
6.9
|
|
Austin
|
1,066
|
up 8%
|
$186,300
|
up 6%
|
5.6
|
|
Corpus
Christi
|
175
|
up 11%
|
$128,500
|
up 2%
|
9.8
|
|
Dallas
|
2,043
|
down 8%
|
$150,100
|
up 7%
|
6.4
|
|
El Paso
|
339
|
up 34%
|
$127,900
|
down 2%
|
6.6
|
|
Fort
Worth
|
407
|
down 12%
|
$105,000
|
up 2%
|
6.8
|
|
Harlingen
|
56
|
down 20%
|
$76,000
|
down 11%
|
unavailable
|
|
Houston
|
3,085
|
up 8%
|
$136,600
|
down 4%
|
7.4
|
|
Lubbock
|
135
|
down 3%
|
$110,000
|
up 2%
|
7
|
|
Odessa
|
50
|
up 56%
|
$136,700
|
up 16%
|
4
|
|
San Angelo
|
63
|
up 7%
|
$118,900
|
up 40%
|
6.3
|
|
San Antonio
|
951
|
up 11%
|
$143,900
|
up 4%
|
7.7
|
|
Temple-
Belton
|
77
|
down 9%
|
$125,000
|
up 19%
|
8.1
|
|
Tyler
|
143
|
down 11%
|
$120,600
|
down 13%
|
12.6
|
|
Wichita
Falls
|
80
|
down 10%
|
$90,000
|
up 3%
|
7.8
|
|
Texas
|
10,628
|
up 2%
|
$139,100
|
up 2%
|
7.3
|
**************************************************************
Whether
you're interested in buying your first home, your next home, or just
want to know more about home-ownership in general, I encourage you to
check out a couple of great online resources: http://www.texasrealestate.com/ or http://www.har.com/. And for all of your Pearland, TX and Northern Brazoria and Galveston County real estate needs, please visit my site at: http://www.danfrankrealty.com. All of these sites offer tons of useful, real estate-related information geared specifically for Texans.
Remember, Danny Frank is a local Pearland, TX Real Estate expert! You can see my entire blog at: http://www.pearlandrealtyblog.com
Pearland Texas Real Estate Market Trends
It
is time to look at the real estate market in Pearland, Texas. I am
going to give you a two-year look at how the housing market is holding
up and what I think the market might do, and what you as a home
buyer/seller should do in the Pearland, Texas market.
First,
let’s look at the market dynamics of something called sales absorption.
This shows the trends of how the market is doing and where it might go.
The chart below indicates that we have fewer homes being sold in
Pearland in the last 2 years - why is that? It is not because of price,
as that has remained steady for the last two years (this chart will be
discussed later). I think it is from people just like you who are
afraid to make a move with all of the uncertainty going on right now. I
think people are just sitting on what they have and playing the waiting
game.
Looking
at the chart above, you can see we are at an all time low in houses
under contract and very flat when it come to houses being sold. But I
do think both are showing trends of going upward.
At this point, I would like to look at the supply and demand of the housing market in Pearland, TX. 
This
chart shows we have 37% more homes for sale than this time last year.
The Pearland market had 1256 homes for sale at the end of December
2010. In Dec of 2009, we had 936, and in Dec 2008, we only had 999 homes
for sale. So, one can conclude from looking at the history of the
housing market in Pearland, we are primed to take off anytime now. Look
at the history, every February, the Pearland market starts it climb
upwards.
Now,
let’s look at something called “Months Supply of Inventory.” This is
something that shows us how many homes are for sale and at the rate they
are selling, and how long would it take to sell them all.
This
not good news. The Pearland housing market is back to pre-Ike levels.
At the end of December 2010, Pearland had 11.7 months of inventory. But
as you may recall, earlier I said we had fewer homes for sale than in
the last two years. This is the big dilemma we are all in right now -
fewer homes for sale and the ones that are for sale are taking longer to
sell. Although I have seen, if you price your home right, it will sell
and it will sell faster. Now is not the time to be greedy. Now is the
time to make the move. I think the housing market is about to make a
big move in the Pearland area.
As
you can see from this next chart, Pearland home prices are flat.
Although they are at a low point right now - $168,000 on average vs. the
median price of $182,000. This is why I encourage you to BUY NOW!! You
might not get as much for the house you’re selling, but you will get
more HOUSE for what you are buying. The price per square foot is lower
right now than it has been in a very long time, and now is the time to
buy a new home in the Pearland market.
Because
interest rates are low and the Pearland real estate market is soft, NOW
is the time to make your move. Think about it, if you have any equity
in your house, you might not get as much as you might have gotten a few
years ago, but now you can get the house you have always wanted for a
much lower price.
Call
me to discuss your specific needs. Let me show you how and why NOW is a
good time to sell and move, to downsize, or to move into an area with
better schools for your kids.
Whether
you're interested in buying your first home, your next home, or just
want to know more about home-ownership in general, I encourage you to
check out a couple of great online resources: http://www.texasrealestate.com/ or http://www.har.com/. And for all of your Pearland, TX and Northern Brazoria and Galveston County real estate needs, please visit my site at: http://www.danfrankrealty.com. All of these sites offer tons of useful, real estate-related information geared specifically for Texans.
Remember, Danny Frank is a local Pearland, TX Real Estate expert! You can see my entire blog at: http://www.pearlandrealtyblog.com
The Houston food bank stands to receive 1 million dollars if they win the contest. Through its “Fighting Hunger Together” campaign, Wal-Mart pledges $1.5 million to six communities where families are struggle to feed themselves. It’s asking the public to decide where the money will go through a contest on Facebook.
To participate, all you have to do is log on to your Facebook account and “like” the City of Houston’s fighting hunger page.
http://www.facebook.com/pages/Houston-Food-Bank-Official-Page/90107797870
Help me help the Houston Area... Click on the link above and like it today....
Whether you're interested in buying your first home, your next home, or just want to know more about home-ownership in general, I encourage you to check out a couple of great online resources:http://www.texasrealestate.com/ or http://www.har.com/ and for all of your Pearland TX and Northern Brazoria and Galveston County real estate needs, please visit my site at http://www.danfrankrealty.com/. All of these sites offer tons of useful, real estate-related information geared specifically for Texans.
Remember, Danny Frank is a local Pearland TX Real Estate expert! You can see my entire blogathttp://www.pearlandrealtyblog.com
The question I get most often being a real estate agent is; How is the market? And is now the best time to sell my house?
Well,
the answer is 2 fold. I will go into detail and show you what the
market is doing and why now might be just the right time to sell your
house and buy another. But on the other hand, why it might be time to
just sit tight and wait for the market to start the upswing in February
or March.
Let's look at what the pricing is doing in the Pearland
TX market. The chart below shows a two year period starting in Nov
2008 and goes through Nov 2010. A few things jump out to me and the
first one is that the median price is FLAT... It has dropped $10K over
the last two years... Understand the in the median price and not the
average price... 
What
does the really mean? It tells me now is a great time to buy and if you
have equity built up in your home, you can sell your home and maybe not
make as much as you once could, and buy a house at a GREAT price. Thank
about it.... You can get a house at an all time low price and get an
interest rate at a record low rate. It's a win win for you....
Looking
at the price per foot chart below, you can see the price per foot 2
years ago was $76.00 and at the end of Nov, 2010, it is still at
$76.00...
Now
let's look at the supply and demand in the Pearland TX market. WOW...
Economics 101 tells us that the more supply we have the lower the
price... Thus, the Pearland median price is down $10K at the end of
November 2010. Before Hurricane Ike came to town, Pearland had about
10-12 months of inventory and it was climbing... Then after Ike we only
had 1.5 months of inventory left.... Pearland is in the first stages of
pulling itself out of any recession we might have been in.... I think
Pearland will have a very strong real estate market in 2011... I'm not
saying pricing will climb much, but I don't think it will fall either...
I just think our home pricing will remain strong and robust. The
national media has everyone running scared... And that is just not the
case in the Houston/Galveston and Pearland real estate markets. Sure our
home prices have drooped just a bit, and you might be upside down on
your loan, but unless you sell your house, you will not feel any real
pain... You might even get a price break from the tax man.... And you
should fight for that, and I can help you with that as well...
Okay,
now you are ready to put your house on the market... If you price it
right, it will sell in no time at all... In Pearland, the average days
on market, Time To Sell, or DOM last month was 89 days. When you price
your home below market value, it will sell faster than the average and
if you price it above the average it will take longer to sell... Plus
when you price it to high, you will miss out on what I call the "RUSH" ,
or the first 45 days of great marketing.... DO NOT OVER PRICE YOUR
HOME...... You will not get any showings and the only thing you will do
is help sell lower priced homes in the area....
you can cantact me for a FREE indepth CMA on your house, Let's talk... Let;s see what your house is really worth...
Whether
you're interested in buying your first home, your next home, or just
want to know more about home-ownership in general, I encourage you to
check out a couple of great online resources:http://www.texasrealestate.com/ or http://www.har.com/ and for all of your Pearland TX and Northern Brazoria and Galveston County real estate needs, please visit my site at http://www.danfrankrealty.com/. All of these sites offer tons of useful, real estate-related information geared specifically for Texans.
Remember, Danny Frank is a local Pearland TX Real Estate expert! You can see my entire blog athttp://www.pearlandrealtyblog.com
Just a beautful house
• 4,039 sq. ft., 3 bath, 5 bdrm 2 story "Large yard with pool" 35169480
MLS®
$472,000
- Priced to sell
The Forest of Friendswood, Friendswood
-
This beautiful two-story home is located in the highly sought after Forest of Friendswood Subdivision and exemplary Friendswood ISD. Impeccably maintained and loaded with upgrades including impressive two story entry, marble and ceramic tile flooring, custom built-ins, crown molding, recessed lighting, wood-burning fireplace, 3 car detached garage, lush landscaping and a backyard oasis featuring a pool, hot tub, rock waterfall & extensive flagstone decking. Don't miss your chance...call today!
Property information
The Forest of Friendswood, Friendswood
-
Announcing a beautiful home for sale
on 301 Meadow Ct, Friendswood TX., a 4,039 sq. ft., 3 bath, 5 bdrm 2 story "Large yard with pool". Now
MLS®
$472,000
- Priced to sell.
Property information
Autumn Lake, Pearland
-
Announcing a price reduction
on 10202 LAMB BROOK LN, a 2,756 sq. ft., 2 bath, 4 bdrm 2 story. Now
MLS®
$206,500
- Priced to sell.
Property information
Open and Spacious
• 3,053 sq. ft., 10 bath, 4 bdrm 2 story
-
MLS®
$189,000
KEEGANS RIDGE, Houston (Fort Bend County)
-
This beautiful home could be yours today. It has an open and flowing floor plan with high ceilings that invite you into the house. The master suite opens from the living room into a spacious room into a large bathroom with a whirlpool garden tub and a separate glass enclosed shower. Upstairs you will find a large game room and 3 bedrooms that are open and bright. Call a Realtor today for an appointment.
Danny Frank is a local Real Estate Expert.
http://www.danfrankrealty.com
Property information
Autumn Lake, Pearland TX
-
We invite everyone to visit our open house at 10202 LAMB BROOK LN on
April 25
from 12:00 PM to 3:00 PM.
Property information
Autumn Lake, Pearland - Announcing a price reduction on 10202 LAMB BROOK LN, a 2,756 sq. ft., 2 bath, 4 bdrm 2 story. Now MLS®$223,900 - Priced to sell.
Property information
If you are looking for a new home, where will you begin your search?
Will it be in the local news paper on the internet? Most people, 92% of
all home buyers start their search on the internet. So where do you
start your search for a new home on the internet?
To be able
to find all of the listed properties, you only need to go to one site.
A site that uses the MLS, Multiple Listing Service, a site like
http://www.danfrankrealty.com.
When you get to a site that let's you search MLS data only, you will
find all listed properties and they will be up to date. Even sites
like Zillow, Yahoo and even Google can't compair to a true MLS only
search. When you go to a site that has NON-MLS listings, you will
really never know how up to date that information is. You run the risk
of finding your dream home then only be disappointed to find out it has
not been on the market for sometime.
After you have found a site using a true MLS only search like this:
http://budurl.com/searchMls
you can then start the search for you dream home. You should never have
to pay to search the MLS. You may have to give you name and email
address, but don't be afraid to give your info to a Realtor®. When you
find you dream home call you Realtor® and set the appointment to view
the house
Whether you're interested in buying
your first home, your next home, or just want to know more about
home-ownership in general, I encourage you to check out a couple of
great online resources: http://www.texasrealestate.com/ or http://www.har.com/ and for all of your Pearland TX and Northern Brazoria and Galveston County real estate needs, please visit my site at http://www.danfrankrealty.com/. All of these sites offer tons of useful, real estate-related information geared specifically for Texans.
Danny Frank is a local Pearland TX Real Estate expert! You can see my entire blog at http://www.pearlandrealtyblog.com
Wickwillow, Alvin TX
-
Announcing a price reduction
on 6403 Wickwillow, a 1,966 sq. ft., 3 bath, 4 bdrm 2 story. Now
MLS®
$205,000
- Just Reduced.
Property information
|
| Su | Mo | Tu | We | Th | Fr | Sa |
|---|
| 28 | 1 | 2 | 3 | 4 | 5 | 6 |
| 7 | 8 | 9 | 10 | 11 | 12 | 13 |
| 14 | 15 | 16 | 17 | 18 | 19 | 20 |
| 21 | 22 | 23 | 24 | 25 | 26 | 27 |
| 28 | 29 | 30 | 31 | 1 | 2 | 3 |
| 4 | 5 | 6 | 7 | 8 | 9 | 10 |
Autumn Lake, Pearland TX
-
We invite everyone to visit our open house at 10202 LAMB BROOK LN, Pearland TX 77584 on
March 14
from 12:00 PM to 4:00 PM.
Property information