First Half 2013 Home Sales in Horizon Pointe
2013 has seen some major changes to the real estate market as a whole, many of them positive. Interest rates have remained near historic lows, prices have begun to rebound ever so slightly, and a lack of inventory has contributed to a shift away from the buyer’s market we had grown so accustomed to over the past few years.
For Horizon Pointe, 2013 has begun with an interesting development. Long thought of as a “new” neighborhood, the first half of 2013 saw only 1 new construction sale in Horizon Pointe. The neighborhood has finally reached the stage of being virtually built-out and we are now seeing the first real year of Horizon Pointe’s resale market. Not to say that we haven’t had resale transactions in Horizon Pointe prior to this year, but this will mark the first time in Horizon Pointe’s history that prices haven’t been at least partially influenced by builder pricing within the neighborhood.
First half of 2013 saw a total of 25 sales throughout Horizon Pointe, with 15 of those sales happening in the divisions of the neighborhood west of the park. The median price for the neighborhood as a whole during the first half of 2013 was $177,325. However, the neighborhood is really made up of 2 very different sub-neighborhoods. East of the Horizon Pointe Park the median values tend to be lower due to more townhomes and condos. West of the park is made up primarily of larger single family detached homes, thus commanding a higher price. Median sales price for the 10 closed sales in the section east of the park was $147,500, while the 15 sales west of the park saw a median value of $199,900.
Overall, both the number of sales and the median prices were down from the same period of 2012. But that can be largely attributed to the lack of new construction sales in 2013. Here are some key statistics from first half 2013 home sales in Horizon Pointe: