Pine Brook Neighborhood Statistics – Clear Lake TX

Pine Brook Neighborhood – Clear Lake Texas

There seems to be a lot of speculation going on about real estate prices right now and it’s important to remember- real estate markets are local. It is easy to get caught up in what the media would have you to believe and that is, all real estate is in proverbial toilet. We’ve got the national economy, the local one and hurricane Ike thrown in for good measure.

Let’s look at the Pine Brook neighborhood…

In the Pine Brook neighborhood, there have been a total of 49 homes closed this year with an average sales price of $347,407 and an average number days on market of 67. Last year during that same time period, the average sale price was $352,998 while taking about 63 days to sell.

Through August of this year, there were 43 sales and from September 1st through today, there have been 6 sales. In contrast there were 48 sales prior to Sept 1 last year. The total number of sales in the Pine Brook neighborhood were down this year but it does not appear to be from the recent hurricane. In September and October of last year there were 7 sales while this year, there were 6- so not much difference there.

Buyers have the choice between 11 homes now in Pine Brook a fairly low number in comparison to the “pre Ike” market. Beside these homes, there are 5 homes under contract and scheduled to close before the end of the year.

With the inventory existing and based on homes that are being absorbed (sold), there are 2.3 months of inventory meaning if nothing new came on the market in Pine Brook , all homes currently for sale would be sold.

Prices in the Pine Brook neighborhood are down slightly from last year at 1.58% while the average number of days on the market remains strong.

I think it’s interesting to note also that we are not in a foreclosure crisis here in Clear Lake. As of today, there are 154 single family homes for sale in Clear Lake and 4 of those are foreclosures. It’s quite challenging to educate out of state consumers who may have had to sell at a loss that they won’t gain it back here.

Again, real estate is local…

If you own a home in Pine Brook and want more information, you can check out our free Pine Brook House Prices Report.

Or if you’re looking for another home in the area, you can search all the homes for sale in the Clear Lake area.

If you’d like to see numbers on your neighborhood, just drop me an email at john@searchclearlake.com and I’ll post it up here.