April 2011 Market Report update: Terranova West in Spring Texas

Terranova West subdivision is located in Spring Texas. West of I-45 off Cypresswood Drive or Louetta at Terranova West Drive.

Residents have convenient access to shopping, dining, entertainment, and major roads,

Community Amenities include a clubhouse, swimming pool with slide and wading pool, two tennis courts, playground, and basketball court., as well a private park with a Baseball Field, walking / jogging trails, exercise stations, sand volleyball court, horseshoe pits, and a soccer field.

Community activities and organizations include the Civic club, a book club, swim team and others…

Terranova West  is in the Klein School district and feeds to the following schools:

Elementary: Benfer, Middle: Strack, High: Klein Collins

Terranova West Tax rate is 2.87%

HOA fees are approx 620.00 annually

A great location, amenities and school district, are only a few reasons why this neighborhood remains desirable. The neighborhood has had a slight decline in Market Values when compared to 2009 year-end average sales price of $63.23SF This decrease can be related to a number of foreclosures and Short Sales that have recently entered the market. Once these homes have sold, I expect to see the pricing return to normal. For now, lower prices mean that it might be the best time to make that purchase.

Market activity for April 2011 in Terranova West shows that 2 Homes have sold with an average sales price of $122, 625 ($46.96/SF) and structure size of 2611 sf. 3 Homes are currently pending and the sales information will be available once they close. Homes are selling at 93% LP/SP Overall time on the market is just over 1 month, with well priced properties moving more rapidly.

There are currently 15 homes for sale in the Terranova West neighborhood. If you’re interested in buying or selling a home in the neighborhood or the area in general, call or email Kimberly Whaley (832-576-4902 – kim@kimberlywhaley.com)

You can search for homes in Terranova West here or other neighborhoods here, by typing the neighborhood name into the subdivision box.

You can also find some very valuable information on my website at www.kw-re.com

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About Kimberly Whaley

Full time, Full Service Real Estate Agent in the The Woodlands and Spring Texas area. Certified Distressed Property Expert (CDPE) Texas Affordable Housing Specialist (TAHS)
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