Hi Neighbors,

Good news, there is a new neighborhood website, in town;

 www.WesthavenEstatesHomes.com.

Please be sure to share with your neighbors.

Houston real estate has had continued bumpy home sales, but in 2016 there have been more listings available of both single family homes and townhomes during the year than in 2015.

Toward the end of the year oil prices have regained some of the lost value although not nearly to 2014 levels. News reports the last couple of month have been an indication that there will be some renewed drilling in shale oil plays.

However, Houston has proven to have a more diverse economy and overall sales have been brisk. Westhaven Estates continues to bring home sales activity throughout the year and with rising stock market favorability outlook is good.

Westhaven Estates has the advantage of being in a great location and there has been a surge in construction in the area in both residential and retail especially around the HEB center, a new Whole Foods and Trader Joes and with them shops and restaurants.  There are also many new apartment communities.

SINGLE FAMILY HOMES

Active homes:   Dec. 31, 2016 there were 21 homes listed on the market;

List prices 2016 between  $519,900 and $1,599,000.  Average List price of $980,609; $250.03/sq. ft.; Average Days on Market; 97.

As compared 2015 with 16 homes for sale; List prices between $639,000 and $1,795,000.  Average List price of $1,003,668 or $250.0f/sq. ft.  Average Days on Market 59

Sold Homes, 16 between 1/1/2016 to 12/31/2016. (2015, 40 sold)

Sale Prices between $527,000 and $1,399,000 (2015, $350,000-1,356,551).  Average sale price $774,700 or $205.69/sq. ft. (2015, $774,700 or $221.34/ sq. ft.)  Average Days on Market 71 (2015, 42 Days on Market)

Pending homes under contract 1.

TOWNHOMES

Active townhomes for sale, 7 on the Market Dec. 31, 2016

List prices between $390,000 and $1,099,000 (2015, 10 homes for sale;  List prices between $350,000 and $885,000).

Average list price $677, 571; or $219.14/sq.ft. (2015, $485,490; or$189.27/ sq. ft).

Average Days on Market 121; (2015, 74)

Pending townhomes under contract 1.

Sold townhouses, 27 between 1/1/2016 to 12/31/2016 (2015, 30 sold)

Sale Prices between $276,000 and $705,600. (2015; $310,000 and$729,000).

Average Sale Price $453,436 or $175.89/sf. (2015; $462,864 or $170.75/ sq. ft.)

Average Days on the Market, 67; (2015, 55. )

The market for 2017 remains to be seen. The Days on the Market show it takes longer to sell. There are still buyers in Westhaven Estates but January and February have traditionally been slow months.

Having said that, recent years have been very busy despite tradition. There is still positive job creation in Houston but it’s difficult to predict what the market will be.

At this point there are so many factors affecting the real estate market from the new presidential actions and roiling stock market in addition to the in oil prices that it’s literally anybody’s guess.

Our neighborhood is strong. Homes that are market priced and present well will sell. Wishing you a great year. If you are considering selling in early 2017, keep in mind that there is limited competition.

Buyers that are looking are serious. For a free in-depth market analysis, please call me.

I’m your neighbor who happens to sell real estate and I always enjoy visiting.  Also I’m happy to help with providing home sales to protest property tax increases.

Sincerely,

Penny

Penny Richey , ABR, SRES,CNE, ALHS

Penrich Properties

713-468-4655

M: 832-725-2989

F: 713-334-4870

Penny@PennySellsHouston.com

www.PennySellsHouston.com

http://www.chron.com/news/article/Premier-agent-spotlight-Penny-Richeyhelps-5952831.phpPenny Richey