TOM PLANT'S HOUSTON REAL ESTATE BLOG

Sales of single family homes in Bellaire were up 10% in the First Half compared to 2009. The growth was primarily in homes priced under $750,000. However, 4 homes priced over $2 million were sold, three more than in the First Half of 2009. There is only one home in Bellaire currently on the market for $2 million.

Based upon information from the Houston Association of Realtors® or its MLS for the period January 1, 2009 to June 30, 2010. Current Listings as of July 1, 2010.

The number of existing Bellaire homes sold in 2010 was up compared to 2009 but more than 11% down from the recent past. The average price of existing homes is holding up but average Days on Market have increased to more than 5 months.

Based upon information from the Houston Association of Realtors® or its MLS for the period January 1, 2006 to June 30, 2010.

Sales of Bellaire’s new construction homes during the first Half of 2010 were the lowest they have been in five years. Part of the reason can be seen the numbers. In the four years since 2006, the average sales price of a new construction home has increased by more than 40% with the average price per square foot increasing more than 15%. Builders have built much larger, more expensive homes. The good news is that builders have built additional homes recently and inventory is down to 19 homes, slightly more than 6 months inventory. The caution is the homes remaining on the market are priced on average 8% higher than the homes which recently sold and the new construction homes currently on the market have been on the market and average of 493 days.

Based upon information from the Houston Association of Realtors® or its MLS for the period January 1, 2006 to June 30, 2010.

OPTION PENDING – Tom D Plant represents the Seller

This light and bright home was 2003 Bellaire Showcase Home*.The gourmet kitchen,warm family room,formal room,formal dining room and custom swimming pool invite both formal and informal entertaining.This beautiful and sophisticated home also is a comfortable family retreat.The generous master bedroom is complemented by three additional bedrooms nestled around a large gameroom.This home must be seen to be truly appreciated.      *per seller

LIST PRICE: 1,149,000

This light and bright home was 2003 Bellaire Showcase Home*.The gourmet kitchen,warm family room,formal room,formal dining room and custom swimming pool invite both formal and informal entertaining.This beautiful and sophisticated home also is a comfortable family retreat.The generous master bedroom is complemented by three additional bedrooms nestled around a large gameroom.This home must be seen to be truly appreciated. *per seller

4611 BRAEBURN                                                                                                                                                              OPEN 12:00 TO 2:00

LIST PRICE $1,149,000

Sales of single family homes Inside Loop 610 increased 21.7% in the First Quarter. As I have indicated, the increase was not consistent for all neighborhoods.

The City of Bellaire TX straddles Loop 610 with a portion of the city Inside the Loop and the majority outside. Single family home sales in Bellaire increased 47% compared to 2009. While this is very significant, sales still have not returned to a rate we would consider “healthy”. It would require a year to sell all of the homes at the increased rate experienced during the First Quarter. It is significant that sales of homes over $1 million increased from 6 to 10.

Detailed statistics are:

HOUSTON SINGLE FAMILY HOME SALES

FIRST QUARTER COMPARISON 2009 AND 2010 – NUMBER OF HOMES

Current Listings as of April 1, 2010

Based upon information from the Houston Association of Realtors® or its MLS for the period January 1,2009 to March 31, 2010.

This light and bright home was 2003 Bellaire Showcase Home*.The gourmet kitchen,warm family room,formal room,formal dining room and custom swimming pool invite both formal and informal entertaining.This beautiful and sophisticated home also is a comfortable family retreat.The generous master bedroom is complemented by three additional bedrooms nestled around a large gameroom.This home must be seen to be truly appreciated. *per seller

4611 BRAEBURN                                                                                                                                                     OPEN 12:00 to 2:00

List Price: $1,149,000

This light and bright home was 2003 Bellaire Showcase Home*.The gourmet kitchen,warm family room,formal room,formal dining room and custom swimming pool invite both formal and informal entertaining.This beautiful and sophisticated home also is a comfortable family retreat.The generous master bedroom is complemented by three additional bedrooms nestled around a large gameroom.This home must be seen to be truly appreciated. *per seller

List Price $1,149,000                                                                                        For More Information 4611 Braeburn

I have discussed previously how the improvement in single family home sales began in the lower price ranges and is slowly moving up the scale. An improved sales rate has come more slowly to Houston’s close-in neighborhoods because they have relatively higher priced homes than the outer suburbs. We are beginning to see improvement close-in. The number of sales of homes Inside Loop 610 in November was 46.3% better than November 2008 compared to 32.8% for all of Houston. However, the number of sales Inside Loop 610 in the past six months increased 2.8% over the same period in 2008 compared to 3.8% for all of Houston.

Shown below for some of Houston’s close-in neighborhoods is a comparison of sales for 2009 compared to 2008 for November and the six month period of June through November. Except for the total area Inside Loop 610, the change is shown in absolute numbers rather than percentage due to the small numbers involved.

Please note, with the exception of Southampton, the neighborhoods made up primarily of more expensive homes continue to lag behind 2008.

This light and bright home was 2003 Bellaire Showcase Home*. This gourmet kitchen, warm family room, formal dining room and custom swimming pool invite both formal and informal entertaining. This beautiful and sophisticated home also is a comfortable family retreat. The generous master bedroom is complimented by three additional bedrooms nestled around a large gameroom. This home must be seen to be truly appreciated. *=per seller www.4611braeburn.com

List Price $1,149,000                                                                                                                    4611 Braeburn

Open Sunday November 15 – 3:00 to 5:00 PM

Single family homes sales increased slightly more than all of Houston during the third quarter 2009. Houston’s sales increased 1.5% While Bellaire’s increased 4.5%. The increase was led by homes priced under $350,000 (54.5% increase) and homes in the $750,000 to $1 million (50.0 % increase) All other price ranges were down significantly. While homes priced between $1 million and $2 million are selling well in some areas, they are still languishing in Bellaire. No homes over $2 million sold in Bellaire during the third quarter.

The home shown in this post is 4611 Braeburn listed at $1,149,000. You can find photos, floor plans and detailed information at 4611braeburn.com.

This light and bright home was 2003 Bellaire Showcase Home*. This gourmet kitchen, warm family room, formal dining room and custom swimming pool invite both formal and informal entertaining. This beautiful and sophisticated home also is a comfortable family retreat. The generous master bedroom is complimented by three additional bedrooms nestled around a large gameroom. This home must be seen to be truly appreciated. *=per seller   www.4611braeburn.com

List Price $1,149,000                                                                                      4611 Braeburn

Open Sunday October 18 – 12:00 to 2:00