Towne Lake Real Estate Guide

Here’s a new listing in Towne Lake Hills West.

• 5 Bedrooms
• 3 Full Bathrooms and 1 Half Bathroom
• Full Finished Basement
• 2 Car Garage
• Asking Price: $274,900

If you would like more information about this property or would like to see it in person, please call me anytime or use the contact form to find other ways to contact me.

Knox Bardeen
(678) 471-7612

• In 2003, 4 homes sold in Towne Lake Hills West
• The average list price was $253,700
• The average sales price was $245,000
• The average number of days on the market was 66
• And the percentage of sales price to original listing price was 96.57%

• In 2004, 5 homes sold in Towne Lake Hills West
• The average list price was $284,940
• The average sales price was $278,900
• The average number of days on the market was 38
• And the percentage of sales price to original listing price was 97.88%

• In 2005, 17 homes sold in Towne Lake Hills West
• The average list price was $281,082
• The average sales price was $274,194
• The average number of days on the market was 82
• And the percentage of sales price to original listing price was 97.55%

2004 saw some great appreciation from 2003 figures, approximately 13.83%. However, 2005 saw a reversal (not by much, 1.6%) in valuation.

Centennial Place is one of three neighborhoods within Towne Lake Hills South. Here’s the three year numbers.

• In 2003, 16 homes sold in Centennial Place
• The average list price was $167,461
• The average sales price was $165,492
• The average number of days on the market was 61
• And the percentage of sales price to original listing price was 98.82%

• In 2004, 16 homes sold in Centennial Place
• The average list price was $173,243
• The average sales price was $171,331
• The average number of days on the market was 58
• And the percentage of sales price to original listing price was 98.90%

• In 2005, 22 homes sold in Centennial Place
• The average list price was $180,040
• The average sales price was $177,580
• The average number of days on the market was 68
• And the percentage of sales price to original listing price was 98.63%

As you can see, Centennial Place is appreciating at a rate of approximately 3.5% per year.

Let me just list the data here and I will comment below.

• In 2003, 16 homes sold in Towne Lake Hills East
• The average list price was $339,505
• The average sales price was $326,540
• The average number of days on the market was 58
• And the percentage of sales price to original listing price was 96.18%

• In 2004, 31 homes sold in Towne Lake Hills East
• The average list price was $370,545
• The average sales price was $362,946
• The average number of days on the market was 50
• And the percentage of sales price to original listing price was 97.95%

• In 2005, 25 homes sold in Towne Lake Hills East
• The average list price was $360,412
• The average sales price was $353,002
• The average number of days on the market was 74
• And the percentage of sales price to original listing price was 97.94%

The sales price is what I am going to focus on. As you can see, from 2003 to 2004 homes appreciated very nicely. Towne Lake Hills East saw an approximate 11% increase in value. From 2004 to 2005, values dropped by about 2.8%.

I received an e-mail from one of the readers here, Brian, who asked about appreciation rates for individual subdivisions within Towne Lake . I didn’t at the time, but I now have sales data for the last 3 years (2003-2005). I plan to publish each individual subdivision in future posts. If you would like to see the spreadsheet with all the neighborhoods listed together, please send me an e-mail and I will get one out to you.

In Bankrate.com’s weekly survey, mortgage experts try and gauge which direction mortgage rates will head in the next 30-45 days. For the week of February 1st - February 8th…

• 0% think rates are going down
• 87% think rates are going up
• 13% think rates will remain unchanged