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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 Home Sales in Grand Lakes Katy Texas

Market Trends 2012 Update for Home Sales in Grand Lakes Katy Texas

What is happening in Grand Lakes Real Estate Market in terms of actual sales during 2012?

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 this whole geographically large area. I have written several detail market reports about Grand Lakes in the past with the last on being a December 2011 Year to Date report that included both available homes and actual sales which you can see right here.

The Chart below is showing homes sold in Grand Lakes in Katy Texas by price point ranges during the first two months of 2012 versus the same period for 2011.   

 

2 MONTHS 2012 VS 2 MONTHS 2011

             
   

2012

 

2011

   

DOLLAR

 

NUMBER

% OF

NUMBER

CHANGE

%

PRICE POINTS

 

OF HOMES

Total

OF HOMES

LAST YEAR

Change

             

<100,000

 

0

   

0

 

100,000-150,000

 

0

   

0

 

150,000 - 200,000

 

5

38.5%

3

2

11.00%

200,000 - 250,000

 

2

15.4%

2

0

0.00%

250,000 - 300,000

 

2

15.4%

5

(3)

-17.00%

300,000 - 350,000

 

1

7.7%

1

0

0.00%

350,000 - 400,000

 

1

7.7%

2

(1)

-6.00%

> 400,000

 

2

15.4%

5

(3)

-17.00%

             

TOTAL

 

13

 

18

(5)

-28.00%

             

Number Priced < $300 K

 

9

69.2%

10

          56%

 
             

Median Sales Price

 

226,961

 

285,600

   

Median Home SQ.FT.

 

2,630

 

3,324

   

Median Price /SQ.FT.

 

 $             93.76

 

 $        89.87

 

4.33%

             

Cumulative Days on Market

31

 

136

   

Sellers Discount from list

 

2.00%

 

3.50%

   
             

Pending Sales

 

22

       

          

As we can see from the chart, actual sales in Grand Lakes during 2012 are 13 homes with 9 priced less than $300 K while during 2011 there were 18 homes sold with 10 priced less than $300 K. Obviously, it is still early in the year with a lot still to happen during the remainder of 2012. Unit sales are down 28% while homes priced at <$300 K are only down 10%. During 2012, 69.2 % of the homes sold were priced at less than $300 K level and this number tracks pretty close to the percentages which occur in the whole Houston market.

At first glance it looks like prices have gone down when we only look at the median actual sales price. However, the square footage of median homes sold has gone down by 694 sq. ft. in Grand lakes while the prices sold per sq. ft. have actually increased by 4.33 % to $93.76.

The discount sellers are willing to give has decreased from 3.5% to only 2%. Pending sales are 22 homes in Grand Lakes during 2012. I do not have comparable number for 2011. Cumulative Days on the market has decreased in 2012 by a substantial amount.

The market for sales in Grand Lakes is still healthy and I believe will show strength during the rest of 2012. As shown in my March report of homes available in Grand Lakes the distressed homes are not having very much if any impact on the market for homes in this neighborhood.

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

 

If you would like to search for homes in Firethorne or any other community in the Katy or surrounding areas go to my web site and construct a search.

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

                          

ship

Published Tuesday, March 20, 2012 4:02 PM by Bob Gilbert

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