How long it will take to sell your home in League City depends on a lot of factors like condition, demand, price and marketing. Homes in high demand areas, priced right and marketed correctly can sell within days while others make take much longer. On average for all homes sold in League City it took a little less than 4 months to get a sold sign in the front yard. While 112 days is up from 101 in 2008 the additional time on the market didn’t affect prices since homes in League City appreciated in 2009.
While the number of sales in League City are down the over the past three years home appreciation in League City was up in 2009. Why ? Inventories have stayed very low, meaning the ratio of homes on the market when compared to those that have sold recently. As of typing this the monthly inventory is 5.3 months, meaning if no other home was listed it would take 5.3 months to sell every home currently on the market. Typically under 6 to 7 months indicates a sellers market. Also foreclosures in League City have been very low and have not had a real affect on the League City real estate market. The home price appreciate in League City over the past years is rare for any market in the nation and speaks to the demand for housing in our city even in a recession.
This is the first article in a series reviewing the past year in League City real estate. Its no secret that all over the nation sales volume has been down for single family homes and League City is no different. What is different is that League City never experienced the dramatic drop in sales like other areas of the country. If you compare 2009 to 08 and 07 there is an obvious drop off. The recession has effected sales but the numbers in 2007 were artificially boosted because of high risk sub-prime loans that buyers (luckily) can no longer get. Buyers purchasing in 2009 had to have good credit, verified income and and money for a down payment.
A positive for 2009 is that sales volume in the 4th quarter exceeded the previous year. Hopefully this is a sign that home sales are increasing to a normal level. In the next few days I will provide data on average days on market, average list price to sales price ratio and average sales price.
It looks like another nice playground but its much more. The project is the idea of Renee Bennett a local resident whose son has Down Syndrome. The idea is for “boundless” certified play equipment so it is accessible for children and people with disabilities. The project will be the first of its kind in Texas. The City of League City has committed funding from the park dedication fund for half of the cost. The other half of the funding will come from grants and private donations. Supporters include the local Side by Side organization started by Ms. Bennett, CCISD, the League City Patrons of the Park, the League City Park Board, the League City 4B Corporation and many other local residents and businesses.
This is an amazing project that will provide enjoyment for many years for children who otherwise would not be able to experience it. If you would like to make a donation or read more about the project and updates please click on the here.
FYI…
TOTAL CLOSURE OF IH 45-GULF FREEWAY
SOUTHBOUND AT CALDER
Road construction on IH 45-Gulf Freeway at Calder in Galveston County is expected to create delays for motorists traveling in the area Friday evening. Beginning at 8:00 p.m., Friday, January 29, crews will close the left lane on IH 45 southbound at Calder. At 9:00 p.m., they will close the remaining southbound mainlanes. Then at 11:00 p.m., the left lane on IH 45 northbound will be closed. All lanes will be reopened to traffic by 7:00 a.m., Saturday, January 30.
