Clear Lake Condo & Town home Market Report

The condo/town home market in Clear Lake is stable but like all areas in Houston sales are down.  Sold units are down by 21% in July of 08 when compared to July 07. As I have discussed many times in this blog, 2006 & 2007 were record years for sales in the Houston area because of sub prime or 100% loans not a normal increase in demand. A normal increase in demand comes from economic boom, population shift, etc.

One area that has seen an significant increase in value is waterfront condos or town homes. There continues to be a huge demand for waterfront real estate, homes, condos, town homes and land.  Another trend I am seeing is that older condo developments are having to significantly raise there monthly home owner association dues because of the increase cost of insurance and deferred maintenance. Buyers are turned off by high monthly dues because in some cases their total housing cost are more than if they purchased a larger single family home.

Clear Lake Condo & Town home Facts

38 - Number of sales in July 2007

28 - Number of Sales in  July 2008

7.9 Months of Inventory (If no other property was listed it would take 7.9 months to sell every condo currently on the market)

$147,533 - Average List Price

$112,120 - Average Sales Price

192 - Town Homes & Condominiums in  Clear Lake are currently for sale.

319 - Number Sold in the Past 12 Months.

Need help buying or selling a condo or town home in Clear Lake, contact me.