Value of Homes for Sale in Bridgeland, Cypress, Texas: Market Report
Bridgeland, the Premier Master Planned Community in Cypress, Texas, is a rapidly developing community, with approximately 20,000 homes expected to be for sale in the years ahead. According to Martha Gros, a representative of General Growth Properties, “Bridgeland is less than 5% built out; approximately 1100 homes have been sold since 2006”.
This past year, since November 2009, the community has grown tremendously, especially in the $300,000-$350,000 price range as well as the $200,000-$250,000 price range. Since November 2009, of the 125 homes that were listed for sale and later sold in Bridgeland, only 8 were distressed sales. This is good news for the residents of Bridgeland. Less than 10% of the homes that were sold in Bridgeland were foreclosures or short sales, and most of those were from the liquidation of David Powers and Wilshire Homes.
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The information in the table above has been gathered using data from the Houston Multiple Listing Service (MLS). The data reflects all home sales that were reported on the MLS, including foreclosures. Please note that not all of the builder’s entire inventory of homes that sold in Bridgeland is reported on the MLS.
Days on Market (DOM) data can be skewed since the way builders report their data on how many days their inventory was on the market varies. NB as DOM means that the home was sold as an inventory home, and the builder decided to post it on MLS. In many instances, the builder noted that the home was on market for one day, which was not always the case.
DOM also does not reflect “cumulative” days on market. Sometimes, homeowners switch brokerages after being listed for several months when no offer was made. When homeowners switch brokerages, the days on market start over. So, if the house was listed for 129 days and then the homeowner switched brokerages, then the new broker would list the property as 1 day on market, not 130 days.
Keep in mind that Price per Square foot is a highly variable element that is dependent on the number of valuable improvements that a homeowner has added to their home. For example, homes with pools are typically sold for a higher price per square foot than homes without one.
If you would like further analysis regarding Bridgeland or a free market analysis for your neighborhood, please contact me at your earliest convenience. I would be happy to provide you with more detailed information on this or any neighborhood.
~Helping You Live the Good Life
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