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Bob is always looking for news about Katy Texas and the surrounding areas. Please e-mail me at bobgilbert2003@msn.com with any news you may feel needs a forum!
Real Estate Recovery more Good News Houston, Texas

Real Estate Recovery more Good News Houston, Texas

My main market area is Katy Texas and Katy is about 23-32 miles (depends on where you want to go to in Katy) due west of downtown Houston. One commonly used landmark to define where you are is to use I-10 (major highway) which runs right through downtown Houston and continues west all the way west to San Antonio and beyond. As I said in my Katy Texas Real Estate Recovery market report from yesterday, the Houston market covers a huge geographical area and is full of numerous micro real estate markets. I believe the Katy market can get influenced by the bigger Houston market but I doubt if there is any meaningful method to try to correlate the two markets. There is additional good news about the Houston Market.

During June 2011 the Houston Association of Realtors (HAR) MLS data indicates that the Houston area had 5,571 homes sold which represents a 1% increase over 2010. The total sales amount in the Houston area increased by about 4% to $1,273.8 million. The median sales price in June was approximately $161 K reflecting a 2 % increase and the average sales price during June was $228,650 or 4% higher than comparable June 2010. This movement of prices experienced during June was a first signal of real estate recovery in the Houston market.

Active home listings during June were down by 5 % versus last year. Total active listings are 32,970 homes and this is considered the second positive sign of a recovery as it indicates a reduction in inventory of available homes.

Similar to the Katy area, contracts written or future demand was 21 % higher in June 2011 than 2010. That is absolutely excellent news as it portends very well for future months to continue to post positive results.  This to me is the third positive signal and maybe the most important.

Since Katy and my other main market areas are suburbs of Houston, the Houston Real Estate market is important to all of us. The excellent economic climate present in Houston certainly has a major impact on all of us in the surrounding suburbs.

If you or your families are interested in the Houston area regarding homes for sale or homes for rent and/or Katy call me or E-mail me as I will arrange to take you folks on a tour of the entire area. If there is an area where I am not an expert I will introduce to another agent who is an expert in that area. No agent in the Houston Metro-plex can honestly claim to be an expert in all neighborhoods and sections.

If you have any questions about homes for sale or homes for rent

in the Katy, Sugar Land or surrounding areas or other questions

contact me at bobgilbert2003@msn.com or visit us on the web at

www.katyhomefinder.comKaty TX Real Estate Expert

Read my blog at http://bobgilbertblog.com


Bob, Realtor, CPA AND MBA

Published Saturday, August 6, 2011 2:30 PM by Bob Gilbert

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