Almost 400 homes sold in Katy in August 2011!

388 homes were sold...ranging in value from $54, 000 to $1,365,000!  What a price spread!

Now, to be fair, the $1,365,000 was the only home closed in August in Katy to cross the $1M mark, but even with considering all the lower priced foreclosures that were needing work, the average price for homes sold in Katy over the month of August was near $300,000!   That's right at our normal median price in Katy, which last year was $278,000.


Foreclosure and Short Sale homes comprised less than 80 sales in Katy in August 2011 or less than 20% of the SOLD/CLOSED market.  


The Katy Texas home market is strong right now.  There are 1623 homes listed as Active for sale in Katy as of today and only 83 of those homes are FORECLOSURE (175 homes are listed as Foreclosure OR Short Sale).  That's less than 5% of the market in Katy is listed as FORECLOSURE property!

These are great numbers when you consider other parts of the nation and even other parts of HOUSTON, where the percentages of foreclosure properties are much higher than 5% of the market!

It works out that it's a great time to buy in Katy with over 1600 homes to choose from and it's a great time to Sell a home in Katy Texas with very few foreclosure properties to compete with!  It seems we are seeing a normalization of the real estate market, at least in Katy.  

Next time, We'll look at the Cypress Texas numbers!