Prices here in Renaissance especially Pin Oak drive and Timber Ridge are down. They took pretty significant drops since last quarter of 2008 and first quarter 2009. But now smart sellers have responded to the market and well priced ones have been selling quickly since March of 2009. You most probably know how to find me so give me a call. I know the story on every home in here- the ones that are priced right & the ones who aren't as well as which sellers are the most motivated and the ones who are wasting everyone's time.
The prices in this community has remained relatively stable over the past few years. The average sale price for a 4Br, 2.5ba Pin Oak Single family has $508k (2007, n=3) and $502k (2008, n=2). While at worst, today's prices may be off the 2005 highs by 10% or ~$50k and half of that can be attributed to the current economic crisis. If you are an original owner, your home has doubled it's value. As a buyer, the only time you'll find a "bargain" in communities like these is if the home condition has been very poorly maintained. While that is not impossible, it's highly unlikely in a new (and desireable) community like Renaissance. As both buyer and seller, you in a good position if you are moving up or laterally as this may the first time you can afford the "bigger" house or "better" school system. If you are downsizing, you should be in dire need of liquidating the equity in your home. As with stocks, the only time you "realize" the gains or loss in home equity is when you sell it. My data sources are the Middlesex County Multiple Listing System and County Tax Records. Contact me if I can be of further assistance or if you require more specificity.