2013 Mid-Year Report - Greatwood

Home sales in Greatwood have been incredible in 2013!  The total number of SFR (Single Family Residences) that closed in the first half of the year was 115, compared to 103 during same time period the previous year; up over 10%.  Prices have also continued to increase with the average sales price for the first half of 2013 being $295,977, or $98.59 per square foot - compared to last year's average of $281,625, or $93.19 per square foot - up almost 5%.  The average DOM (Days on Market) for the same time periods was 37 days in 2013, compared to 58 days in 2012 - a 36% improvement!

So why are home sales so brisk in 2013?  In my opinion, it's simply basic economics of supply and demand.  There are over 4,200 homes in Greatwood and average inventory has hovered around 30 for the past several months; less then 1%.  With the rapid growth of Southwest Fort Bend County, the improved mobility with the expansions of I-69 (Hwy 59), Grand Parkway, Crabb River Road, etc., the new schools, medical facilities, historically low interest rates, and so forth - it has created a high demand for master-planned housing in the area.  With the high demand, and low inventory (supply) - it's only natural that prices will increase and days on market will decrease.

Speaking of DOM (Days on Market) - it is not uncommon, in today's market, for homes that are priced right and updated to receive multiple offers within a matter of days; or even hours, of hitting the market.  Many prospective buyers have lost out on homes that they wanted because they either could not make time to view the property the day it hit the market; or they thought they could make a "less than market value" offer and get the property.  Not in today's market - with multiple offers, you generally have one chance to make a good impression with a realistic offer to a seller that has a home priced correctly and that is in good condition with nice updates.

The charts below are provided as on overview of the Greatwood home sales in the first half of 2013.  If you are thinking of selling your Greatwood home and would like a more detailed analysis of your personal property, please don't hesitate to contact me.

Greatwood SOLD Properties - January thru June 2013
Single Family Residences (SFR) - 115 Properties Sold 1/1/2013 thru 6/30/2013
	SqFt	Beds	FB	HB	List Price	LP/SqFt	Sale Price	SP/SqFt	Adj. Sale Price	Adj. SP/SqFt	SP/LP %	DOM	CDOM	Year Built
Min	1850	2	2	0	175000	71.88	167500	69.81	166500	68.13	88%	0	0	1989
Avg	3002	3.91	2.52	0.71	303439	101.08	295977	98.59	294314	98.04	98%	36.93	63.35	1997
Max	6000	5	5	3	1050000	175	925000	161.05	925000	161.05	104%	285	520	2007
Median	2766	4	2	1	259900	94.53	250000	94.11	250000	93.29	98%	17	22	1997
Townhomes - 7 Properties Sold 1/1/2013 thru 6/30/2013
	SqFt	Beds	FB	HB	List Price	LP/SqFt	Sale Price	SP/SqFt	Adj. Sale Price	Adj. SP/SqFt	SP/LP %	DOM	CDOM	Year Built
Min	1484	2	2	0	152900	86.95	148000	86.99	145901	86.99	93%	5	5	2001
Avg	1789	2.86	2	0.43	183757	102.71	178171	99.59	177754	99.36	97%	51.43	51.57	2003
Max	2529	3	2	1	219900	117.5	220000	110.16	220000	110.16	100%	148	148	2004
Median	1634	3	2	0	178500	107.1	174000	106.18	173500	105.99	97%	15	15	2004
			Current Inventory* - SFR
			Actives - 37 Properties Found
				SqFt	Beds	FB	HB	List Price	LP/SqFt	DOM	CDOM	Year Built
			Min	2010	2	2	0	190000	81.62	1	1	1990
			Avg	3446	4.05	2.78	0.84	382172	110.9	52.89	86.97	1998
			Max	6169	5	5	2	699880	162.24	366	1502	2007
			Median	3390	4	3	1	364900	105.41	34	38	1998
			Option Pending - 8 Properties Found
				SqFt	Beds	FB	HB	List Price	LP/SqFt	DOM	CDOM	Year Built
			Min	2151	3	2	0	224900	95.26	1	1	1990
			Avg	3016	3.75	2.5	0.5	341038	113.08	11.63	12	1998
			Max	4382	5	4	1	479900	127.97	56	56	2007
			Median	2759	4	2	0.5	314900	109.36	4.5	5	1999
			Pending Continue to Show - 14 Properties Found
				SqFt	Beds	FB	HB	List Price	LP/SqFt	DOM	CDOM	Year Built
			Min	2162	3	2	0	212000	83.77	0	0	1992
			Avg	3156	4	2.71	0.64	325886	103.26	17.14	17.21	1998
			Max	4332	5	4	1	565000	132.57	52	52	2005
			Median	2876	4	3	1	264950	97.59	7	7.5	1997
			Pending - 14 Properties Found
				SqFt	Beds	FB	HB	List Price	LP/SqFt	DOM	CDOM	Year Built
			Min	2010	3	2	0	200000	85.07	1	1	1990
			Avg	2840	4.14	2.43	0.57	288543	101.6	27.36	27.36	1997
			Max	4100	6	3	1	434000	122.22	116	116	2001
			Median	2783.5	4	2	1	267000	105.69	22	22	1999
			Current Inventory* - Townhomes
			Pending - 1 Property Found
				SqFt	Beds	FB	HB	List Price	LP/SqFt	DOM	CDOM	Year Built
			Min	2052	3	2	1	225000	109.65	42	42	2000
			Avg	2052	3	2	1	225000	109.65	42	42	2000
			Max	2052	3	2	1	225000	109.65	42	42	2000
			Median	2052	3	2	1	225000	109.65	42	42	2000
All data used for the analysis of this report was derived from the information available in multiple listing service of the Houston Association of REALTORS®;
it is deemed to be reliable, but not guaranteed.  It should not be used as a determination of value for property; homeowners are urged to seek the assistance
of a well-qualified REALTOR® to determine current market value for their personal residence.  May factors, such as: location, condition, size, functionality, etc.
should be considered when determining value of a specific property.
The information provided above is the property of Zatopek Properties and its agents.  It is not to be distributed by
any other real estate licensee, whether active or inactive.  Property owners with questions about the above data
may call or email Julius F. Zatopek, III, Broker/Owner, julius@zatopekproperties.com , (281) 342-1997.
				*Current Inventory as of noon, July 11, 2013