West Ranch Development | Sales Update First Quarter 2008

West Ranch is a new development on the west boundary of Friendswood. Click Here to read detailing information about West Ranch.  Now that more homes are being built the style and shape are taking shape. Many of the spec homes have hard flooring (wood or tile) on the first floor which most buyers now demand. You are also seeing dark cabinets, tile and paint colors keeping with the rustic feel of the neighborhood. Also you will see a stone exterior on many of the homes which has been well received by buyers.

• In the Creekside & Stonecreek section there are currently 19 properties for sale, 4 pending sale and 10 sold since January 2008.   The average price per foot sold was $86.  On average the properties sold for 86% of list price.
• In the Estate section there are 4 for sale and 2 sold since 2008. This is information obtained from MLS, builders frequently sale homes that they don’t put in MLS. The average price per foot sold was $117. On average the properties sold for 95% of list price.

The community has a lot to offer buyers with quality builders, a great school district and outstanding amenities.  Unfortunately in the Friendswood/Clear Lake area there is a large supply of homes in the $300,000-$500,000 price range.  The ratio of list price to sales price is very low at 86%.  This statistic is very troubling. Typically in our market we sell homes selling for 98%-95% of the list price. Home selling for 86% of list price speaks to the large amount of supply. Again its important to purchase correctly in our market or you get into a position of negative equity when its time to sell. Click here to read more about purchasing new construction.