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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 South Katy Texas

Market Trends 2012 Update for Home Sales in South Katy Texas

What is happening in South 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 individual neighborhoods and the entire area 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 the entire South Katy Texas by price point ranges during the first two months of 2012 versus the same period for 2011.   

HOMES SOLD SOUTH KATY

 

2 MONTHS 2012

 
   

2012

   
             

%

DOLLAR

 

NORMAL

DISTRESSED

TOTAL SOLD

% OF

TOTAL

CHANGE

PRICE POINTS

 

 HOMES

PROPERTY

HOMES

Total

2011

year to year

               

<100,000

 

14

8

22

6.2%

12

3.18%

100,000-150,000

 

39

13

52

14.6%

44

2.55%

150,000 - 200,000

 

64

5

69

19.3%

55

4.46%

200,000 - 250,000

 

51

2

53

14.8%

53

0.00%

250,000 - 300,000

 

52

4

56

15.7%

45

3.50%

300,000 - 350,000

 

34

0

34

9.5%

34

0.00%

350,000 - 400,000

 

22

0

22

6.2%

28

-1.91%

> 400,000

 

48

1

49

13.7%

43

1.91%

               

Subtotal

 

324

33

357

100.0%

314

13.69%

               

FORECLOSURE

 

27

   

7.6%

   

SHORT SALE

 

6

   

1.7%

   
               
               

TOTAL

 

357

33

       
               
               

NUMBER

             

< 300,000

     

252

70.6%

209

66.6%

               

Median Sales Price

 

236,990

     

234,510

 

Average sales price

 

267,418

     

262,414

 
               

Median Price /SQ.FT.

 

91.00

     

89.00

2.2%

               

Cumulative Days on Market

84

     

90

 

Sellers Discount from list

 

5.00%

     

5.00%

 
               

Pending Sales

 

126

     

108

16.7%

               
               
               

 

As we can see from the chart, actual sales in South during 2012 are 357 homes with 252 priced less than $300 K while during 2011 there were 314 homes sold with 209 priced less than $300 K. Home sales have increased by  13.69 % while homes priced at <$300 K have increased 20.6 %. During 2012, 70.6 % of the homes sold were priced at less than $300 K level and this number while slightly higher tracks pretty close to the percentages which occur in the whole Houston market and in Grand Lakes and Firethorne (see my market reports).

The median actual sales price has increased by $2,480 from year to year while the average per home has increased by $5,004. The median price per sq. ft. has increased by 2.2 % and this is excellent news for sellers and in my opinion also buyers as the market here is very stable.

The discount sellers are willing to give has stayed at 5%. Pending sales are 126 homes in South Katy during March 2012 and indicates demand is strong. At the same time last year pending sales were 108 and that was a good strong figure. Cumulative Days on the market has decreased in 2012 by 6 days to 84 days. Based on the statistics put together and the cumulative number of days a home stays om n the market, South Katy I believe has moved into a sellers’ market position.

Real Estate market for sales in all of South Katy is very healthy so far and I believe will show strength during the rest of 2012. As shown in my March report of homes available in South Katy 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 3:22 PM by Bob Gilbert

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