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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 Firethorne Katy Texas

Market Trends 2012 Update for Home Sales in Firethorne Katy Texas

What is happening in Firethorne 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 Firethorne 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 Firethorne in Katy Texas by price point ranges during the first two months of 2012 versus the same period for 2011.   

HOMES SOLD IN FIRETHORNE

2 MONTHS 2012

             
   

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

 

4

13.8%

3

1

5.00%

200,000 - 250,000

 

10

34.5%

5

5

23.00%

250,000 - 300,000

 

5

17.2%

7

(2)

-9.00%

300,000 - 350,000

 

2

6.9%

3

(1)

-5.00%

350,000 - 400,000

 

3

10.3%

1

2

9.00%

> 400,000

 

5

17.2%

3

2

9.00%

             

TOTAL

 

29

 

22

7

32.00%

             

Number Priced < $300 K

 

19

65.5%

15

68.0%

 
             

Median Sales Price

 

247,357

 

270,424

   

Median Home SQ.FT.

 

3,036

 

3,266

   

Median Price /SQ.FT.

 

 $          87.48

 

 $         83.56

 

4.69%

             

Cumulative Days on Market

 

105

 

124

   

Sellers Discount from list

 

3.00%

 

5.50%

   
             

Pending Sales

 

10

       
             

 

 

          

As we can see from the chart, actual sales in Firethorne during 2012 are 29 homes with 19 priced less than $300 K while during 2011 there were 22 homes sold with 15 priced less than $300 K. Home sales have increased by  32 % while homes priced at <$300 K have increased 26.7 %. During 2012, 65.5 % 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 and in Grand Lakes (see my market reports).

At first glance it looks like prices have gone down when we only look at the median actual sales price. This is actually the same situation as in Grand Lakes. However, the square footage of median homes sold has gone down by 230 sq. ft. in Firethorne while the prices sold per sq. ft. have actually increased by 4.69 % to $87.48.

The discount sellers are willing to give has decreased from 5.5% to 3 % which is good news to sellers. Pending sales are 10 homes in Firethorne during 2012. I do not have comparable number for 2011. Cumulative Days on the market has decreased in 2012 by 19 days which is also good news from sellers.

Real Estate market for sales in Firethorne is healthy so far and I believe will show strength during the rest of 2012. As shown in my March report of homes available in Firethorne the distressed homes segment 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 27, 2012 3:19 PM by Bob Gilbert

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