Q1 2012 Market 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,

There are 627 Homes in the Terranova West neighborhood. 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; however in the first quarter of 2012, the neighborhood saw a very slight decline in sales prices when compared to the 2011 year-end average sales price of $57.89/ SF. Statistically I see no reason for the decrease in sales prices. This could just be a temporary dip and we may see improvement in values in the near future. For now, lower prices mean that it might be the best time to make that purchase

Market activity in Terranova West  for the first quarter of 2012 shows that 7 Homes sold with an average sales price of $56.89/SF. and an average structure size of 2763/SF. The average home sold at 98% of LP/SP (list price per square foot), with an average time on the market of just over 3 months. There are currently 2 homes pending. Sales information for pending properties will be available once they close.

Terranova West Home Sales March 2011-March 2012

There are currently 17 homes for sale in Terranova West with an average asking price of $164.640. You can search for homes in Terranova West here

If you’re interested in buying or selling a home in the neighborhood or the area in general, call or email me today, 832-576-4902, kim@kimberlywhaley.com

If you’re interested in searching for a home in a different neighborhood, you can do so here, by simply typing the neighborhood name into the “subdivision” box.

***If you are considering a new construction home, I highly recommend you take a take a Realtor with you that knows how to negotiate builder pricing, to represent your interest in the transaction. Statistically buyers who work with a Realtor when purchasing a new home get a better deal. Don’t forget that the Sales counselors work for the builders and their job is to sell you a home for highest price they can.

Look for other useful Real Estate information on my website,  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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