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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!
Local Real Estate Market Report for YTD September 30, 2011 Firethorne in Katy Texas

Local Real Estate Market Report for YTD September 30, 2011 Firethorne in Katy Texas  

The Firethorne neighborhood is part of Katy Texas or MLS area 36. Firethorne is a Master Planned Community located off of the Highway 1463 about 2 miles south of the I-10 exit. The neighborhood recently opened a new section of homes that are being built east of 1463 while the main section of already built homes is west of 1463.

Firethorne is 1,400 acres with numerous amenities and recreational facilities. The Developer states Firethorne provides “an urban convenience with small town charm”. Currently there are six (6) builders who are constructing new homes in Firethorne. Firethorne is located in both the Katy and Fulshear areas of far western Houston away from the hustle and bustle of the big city but very close to old Katy Texas A significant portion of Firethorne is zoned for Katy ISD and the remaining sections are zoned for Lamar ISD.  

There current are 71 homes available for sale in Firethorne (per HAR MLS) ranging from $172,900 to $499,971 in list price. The median list sales price or mid-point is $259,950 or $90.99/ sq. ft. with 64 days on the market. There continues to be a good supply of reasonably priced homes now available in Firethorne. If we examine the breakdown of available homes it indicates:

                                                              Priced   $150.000 - $200,000    8 homes available                                (same as last month)

                                                                            $200,000 - $250,000         20 homes available             (dropped 4 homes from last month)

                                                                           $250,000 - $300,000          19 homes available              (increase of 1home from last month

                                                                                 $300,000 - $350,000            5 homes available                (decrease of 3 homes from last month)

                                                      $350,000 - $400,000            11 homes available              (increase of 2 homes)

                                                      Over        $400,000               8 homes available                  (decrease of 1 home)

As we can see from the above chart, 47 homes (down from 50) or 66 % of the available homes are priced at $300,000 or less. The percentage of available homes priced at or less than $300,000 remained the same from August to September but the number of available homes decreased by 3. It is my personal opinion that this number will continue to decrease each month until spring. If you thinking of buying a home in this area of Katy or any other master planned community stop procrastinating and take action as these affordable homes are slipping through your fingers.

 

During the first 9 months of 2011, there were 132 homes sold in Firethorne with low being $149,500 and the high being $574,950. The median price or mid-point price of homes sold so far this year is $280,511 or $88.64/ sq. ft. and the average price is $ 291,912 or $ 89.27/ sq. ft. The absorption rate or numbers of months of available inventory is 4.8 months which are continuing to tend towards a sellers’ market as this has gone down from August of 5.2 months.

Units sold so far during 2011 are down slightly by 6 homes versus 8 months of 2010 or 4.4 % decrease. The good news here is the median price of homes sold has increased by $4,719 or 1.7%. The discount from list price has been reduced from 5 % during 2010 to 3 % for 2011. This is also good news for home sellers. However, the median number of days on the market has increased from 53 last year to 84 days for 2011. This statistic tracks about the same as all of MLS area 36 and similar to Grand Lakes another neighborhood I cover with market reports. .

It is still excellent time to look and buy a home in Firethorne, Grand Lakes, Cinco Ranch, Seven Meadows, Silver Ranch or any other neighborhood in the Katy or surrounding areas.. If you and your family are interested in Firethorne or any other neighborhood in Katy contact I and will arrange to take you on a tour of the whole area.

  Homes in Firethorne Katy TexasHomes in Firethorne Katy Texas








Lake in Firethorne

   Recreational Facility Firethorne Katy Texas







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 at bob@bobgilbert.com or visit us on the web at

http://www.katyhomefinder.com Katy TX Real Estate Expert

Read my blog at http://bobgilbertblog.com

TEAM DEVER...

Bob, Realtor, CPA AND MBA

Bob Gilbert

Published Wednesday, November 02, 2011 4:17 PM by Bob Gilbert

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