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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!
Market Trends 2012 Update for Current Homes Available in Cinco Ranch West

Market Trends 2012 Update for Current Homes Available in Cinco Ranch West

What is happening in the Cinco Ranch West (of Highway 99) Neighborhoods?

The Real Estate market in South Katy Texas (MLS area 36) is basically defined by what occurs in the numerous Master Planned Communities which are scattered across the whole area. Cinco Ranch is a major master planned community which is spread out over a huge geographical area and is comprised of numerous separate neighborhoods. Most of these neighborhoods lose their individual identity and become just Cinco Ranch. Due to this fact it is hard to create meaningful statistics about Cinco Ranch. I have not attempted to write a market report about Cinco Ranch in the past as I would have to keep track of every home location and plot on a map to figure which specific neighborhood we are considering. Late this past year, the Houston MLS added several categories to break apart larger areas and one was a category of West of Highway 99.  I have used this distinction to create a Cinco Ranch market profile. Many of the homes in this area are new homes or newer than the East of Highway 99 homes. New homes are still being built in the west section and I believe there are 31 model homes in the model home park of Cinco Ranch (Talk about overkill) I have had several requests from folks wanting some type of market information about Cinco Ranch.

The Chart is showing current listings of homes for sale in Cinco Ranch West in Katy Texas by price point ranges during March, 2012.     

   

HOMES AVAILABLE IN SOUTH KATY CINCO RANCH WEST

   

Mar-12

             
             

DOLLAR

 

NUMBER

DISTRESSED

TOTAL

NUMBER

% OF

PRICE POINTS

 

OF HOMES

PROPERTY

HOMES

< 300,000

Total

             

<100,000

 

0

0

0

   

100,000-150,000

 

0

0

0

   

150,000 - 200,000

 

8

0

8

   

200,000 - 250,000

 

40

3

43

   

250,000 - 300,000

 

34

1

35

86

37.4%

300,000 - 350,000

 

41

0

41

 

17.8%

350,000 - 400,000

 

31

0

31

 

13.5%

> 400,000

 

72

0

72

 

31.3%

             

Subtotal

 

226

4

   

100.0%

FORECLOSURE

 

4

     

1.7%

SHORT SALE

 

0

     

0.0%

             
             

TOTAL

 

230

4

230

   
             

 

As shown above there are 230 homes currently available in Cinco Ranch West with only 4 homes or 1.7% of the total being classified as Distressed (Foreclosure or Short Sale). The Distressed Homes are not having much of an impact on the market in South Katy or for that matter a vast majority of the submarkets or master planned communities that make up South Katy and this certainly applies to Cinco Ranch West. My reports for Grand Lakes, Firethorne and the whole of South Katy had a similar observation. It is important to also note that only 86 homes or 37.4 % of the available homes in Cinco Ranch West are priced at less than $300 K. As I mentioned in my report about Grand Lakes the number of affordable homes priced less than $300 K is not a large number and will probably decline further during 2012 in Cinco Ranch West.

One other quick point I need to make as I have had this question come several times in recent days. There are no homes priced in the less than $150 K category which are zoned to either Seven Lakes or Cinco Ranch High School.

 

Cinco Ranch West in Katy is an excellent place to live with many amenities and conveniences close at hand. If you or your family would like to learn more about this wonderful family neighborhood contact me. Time to take action is right now as interest rates continue to hover around historical lows and builders in Cinco Ranch West have added to their spec inventories. I expect Cinco Ranch West to have a big selling season during the remainder of 2012.  

 

Please see Active Rain’s article on Real Estate Recovery or Not?

 

If you would like to search for homes in Cinco Ranch West or any other community in the Katy or surrounding areas go to my web siteto do a search of the entire market.

Real Estate Recovery

If you have any questions about homes for sale or homes for rent in the Katy or Sugarland, Cypress or surrounding areas, contact me at:

bobgilbert2003@msn.com or bob@bobgilbert.com

or visit me on my web site at http://www.katyhomefinder.com


Katy Texas Real Estate Expert

 

Read my blog at http://bobgilbertblog.com

Bob Gilbert

                          

St Patrick's day image

 

Published Friday, March 16, 2012 4:15 PM by Bob Gilbert

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