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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 November 30, 2011 Firethorne in Katy Texas

Local Real Estate Market Report for YTD November 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 FM 1463 while the main section of already built homes is west of 1463. FM 1463 gives commuters easy access to I-10 as it maybe 2-3 miles away and to FM 1093 and the West Park Toll way. Firethorne subdivision is located in a excellent spot with easy access to several major roads.

 

Firethorne consists 1,400 acres plus of land with numerous amenities and recreational facilities scattered through the neighborhood. 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.  Firethorne is a very beautiful area and has ample recreational facilities and living there it is easy to stay in or close to this neighborhood.

There current are 59 homes available for sale in Firethorne (per HAR MLS) ranging from $169,795 to $499,971 in list price. Last month there were 65 homes available. The median list sales price or mid-point is $268,285 or $91.94/ sq. ft. with 98 days on the market. As I have reported for the last 3 months, there continues to be a good supply of reasonably priced homes now available in Firethorne and that combined with the small town atmosphere makes Firethorne a must see for families looking for home in the Katy area. If we examine the breakdown of available homes it indicates:

HOMES AVAILABLE IN FIRETHORNE

       

18-Dec-11

       
             

DOLLAR

 

NUMBER

NUMBER

% OF

CHANGE

 

PRICE POINTS

 

OF HOMES

< 300,000

Total

LAST MONH

 
             

<100,000

 

0

   

0

 

100,000-150,000

 

0

   

0

 

150,000 - 200,000

 

6

   

(2)

 

200,000 - 250,000

 

16

   

(3)

 

250,000 - 300,000

 

11

33

55.9%

(9)

(14.00)

300,000 - 350,000

 

3

 

5.1%

1

 

350,000 - 400,000

 

12

 

20.3%

4

 

> 400,000

 

11

 

18.6%

3

 
             

TOTAL

 

59

   

(6)

 
             

 

                                           

 

As we can see from the above chart, 33 homes (same as last month) or 55.9 % 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 increased in October by 6 % and the number of available homes decreased by 6 but during November the available homes at this price point decreased by 14 homes. It is my personal opinion that this number will continue to decrease each month until spring as builders will try very hard to sell inventory homes and delay construction of new spec homes. As I have said several times this year, 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 very affordable homes are slipping through your fingers.

 

 Firethorne Katy Texas

 

During the first 11 months of 2011, there were 157 homes sold in Firethorne with low being $149,500 and the high being $574,950. The median adjusted sales price or mid-point price of homes sold so far this year is $274,397 or $87.22/ sq. ft. and the average adjusted sales price is $287,608 or $ 88.63/ sq. ft. The absorption rate or numbers of months of available inventory is 4.1 months which are continuing to move into a  sellers’ market as this has gone down almost every month since August when the supply was 5.2 months.

The breakdown of sales for 11 months of 2011 is as follows:

HOMES SOLD IN FIRETHORNE

   

11 MONTHS 2011

   
         

DOLLAR

 

NUMBER

NUMBER

% OF

PRICE POINTS

 

OF HOMES

< 300,000

Total

         

<100,000

 

0

   

100,000-150,000

 

0

   

150,000 - 200,000

 

23

   

200,000 - 250,000

 

34

   

250,000 - 300,000

 

34

91

58.0%

300,000 - 350,000

 

20

 

12.7%

350,000 - 400,000

 

17

 

10.8%

> 400,000

 

29

 

18.5%

         

TOTAL

 

157

   
         

 

 

Units sold so far during 2011 are down slightly by 8 homes versus 11 months of 2010 or 4.8 % decrease. The good news here is the median price of homes sold has increased by $6,047 or 2.2%. The discount from list price has been reduced from 5 % during 2010 to 3 % for 2011 as this seller concession amount has decreased and I personally think this will continue during December. This is also good news for home sellers. However, the median number of days on the market has increased from 54 last year to 84 days for 2011. This statistic tracks about the same as all of MLS area 36 and similar to Grand Lakes and several other neighborhoods in the Katy Area.

 

 

It is still excellent time to look and buy a home in Firethorne, Grand Lakes, Cinco Ranch ( new and resale), Seven Meadows, Silver Ranch, Kelliwood, Green Trails  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  I and will be happy to arrange to take you on a tour of the whole area.

 

 

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, December 28, 2011 5:03 PM by Bob Gilbert

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