RSS Feed for This PostCurrent Article

Lansbrook Real Estate 2011 Market Update

In 2011 the sales statistics for the Lansbrook community were a little weaker than in the 2010, but not significantly.

2010:
total homes sold: 86
average list price: $413,695.00
average days on market: 116

2011:

total homes sold: 79
average list price: $398,311.00
average days on the market: 126

As you can see by the figures above, there were less homes sold and the average list price was a little lower. It also took a little longer to sell a home. There are many factors that can come into play here. One is that banks have become much stricter on whom they lend money to, and their underwriting process can take a little longer. Also, many people have to sell a home prior to purchasing another home, especially in a higher end neighborhood such as Lansbrook. If it was difficult for them to sell their current home in another area, this may have delayed the closing date of the home they were purchasing in Lansbrook. Another reason to consider is that people are not desperate to sell their home and they are waiting for a good offer to come through. In a buyers market such as 2011, buyers will often throw out a lowball offer. A seller who has time on their side, can wait for the right buyer who is willing to offer a fair price for a quality home and neighborhood.

One other thing to consider if you are buying in Lansbrook, is that many people are staying in their homes longer choosing to remodel instead of sell. I have spoken with a number of contractors, painters and pool/paver companies that have said their business has significantly picked up in nicer neighborhoods such as Lansbrook over the past few years. This is because people have decided to stay in their homes and put money into them to increase their value. This is good news for residents of this community. When people take care of and maintain their homes, they increase the value for the entire neighborhood! So just because people aren’t selling their homes as much as recent years this does not mean that living in Lansbrook is any less of an excellent investment. It shows that people are remaining in a thriving community.

Since this article is being written in 2012 which can report that 2012 is already looking like a great year for the Lansbrook community as well as many other East Lake subdivisions. Home prices have started to go up, and they are not on the market for long before they are under contract. We have many buyers who have called to see a home they drove by, only to find out that it is already under contract. A good home is being swept up fast! If you are thinking of buying or selling in Lansbrook please contact us for more information.

If you would like to review the individual Lansbrook subdivision sales figures for 2011 please visit our website at www.lansbrook-real-estate.com.

by Bob Lipply, Broker / Owner
Lipply Real Estate
Find me on Google+

Trackback URL

Sorry, comments for this entry are closed at this time.