Lazybrook Real Estate Report – AUGUST 2009

I have run all the numbers for the month of August regarding Lazybrook’s real estate market and here is what I have found.

ACTIVE LISTINGS

Currently we have 9 ACTIVE listings in Lazybrook. They are your standard 3 bedroom/2 bath Lazybrook ranch style with 2 car garages on average. The average lot size is 8,917 square feet and the average square footage of the homes is 1,927. Here are the numbers I know you all want… The average list price is $316,866 which comes out to $166.48 per square foot. How long have they been on the market on average you ask? 58 days…

PENDING LISTINGS

Lazybrook Drive home listed with us at John Daugherty, Realtors. This home will close late in September.

We do have a very active market in Lazybrook. I would atest this to the fact we are one of the few neighborhoods in Houston with a great location and home prices that have not skyrocketed. As of today we have 5 listings that are PENDING SALE. Again, on average, they are your standard Lazybrook 3 bedroom/2 bath ranch style homes with 2 car garages. The average lot size is similar to those that are active, 8,125 and the average square footage of the homes is 1,963. The average sales price was $288,580 which comes out to $153.21 per square foot. These homes have been on the market right around 85 days on average.

SOLD LISTINGS

We had 3 homes that SOLD in August… They again were on average 3 bedrooms/2 baths with 2 car garages. The average lot size is 8,251 and the average square footage of these homes is 2,119. On average they were on the market for 55 days and brought 96% of their list prices at $300,800.

SYNOPSIS IN GENERAL

So, there you have it… We DO have a very active market in Lazybrook. When homes are moving in 60-90 days and are closing at 95% or more of their asking prices, those are decent numbers. It also means that homes are priced well. The closer you get to your asking price, the more appropriate your home was priced. It is very important to remember, especially if you are a home seller currently or will be a home seller… YOU nor I as a realtor, determines the market… BUYERS DETERMINE THE MARKET! : ) Afterall, they are the ones paying the price. As a Real Estate Professional, it is not my job to give you my opinion on a homes price, it is my duty to educate you on the market so that you can determine the appropriate value of your home. It is also my responsibility to communicate buyer’s feedback to you which is very important. And finally,  marketing your home to gain maximum exposure to get that perfect buyer into your home.

I hope you enjoy this Lazybrook Real Estate Market Report for the month of August. I will be doing these reports at the end of each month to broadly educate you on what’s going on in our neighborhood.