Local Real Estate Market Report for Firethorne in Katy Texas

Local Real Estate Market Report for  Firethorne in Katy Texas

The pictures below were taken in the Firethorne neighborhood as part of Katy Texas or MLS area 36. Firethorne is a Master Planned Community located off of the Highway 1463 about 2 miles south of the I-10 exit.

Firethorne is 1,400 acres with numerous amenities and recreational facilities. The Developer states Firethorne provides “an urban convenience with small town charm”. Currently there are six (6) builders who are constructing new homes in Firethorne. Firethorne is located in the Katy and Fulshear area of far western Houston away from the hustle and bustle of the big city. A significant portion of Firethorne is zoned for Katy ISD and the remaining sections are zoned for Lamar ISD.  

There are currently 76 homes available for sale in Firethorne (per HAR MLS) ranging from $172,900 to $515,000 in list price. The median list sales price is $261,225 or $91.02/ sq. ft. with 59 days on the market while the average price is $290,963 or $93.93 /sq. ft. and average days on the market is 80. There is a good supply of reasonably priced homes now available in Firethorne. If we examine the breakdown of available homes it indicates:

Priced   $150.000 - $200,000    8 homes available

$200,000 - $250,000         24 homes available

$250,000 - $300,000          18 homes available

$300,000 - $350,000            8 homes available

$350,000 - $400,000            9 homes available

Over        $400,000               9 homes available

As we can see from the above chart 50 homes or 66 % of the available homes are priced at $300,000 or less.

During the first 8 months of 2011, there were 116 homes sold in Firethorne with low being $149,500 and the high being $500,000. The median price of homes sold so far this year is $284,500 or $88.64/ sq. ft. and the average price is $ 297,174 or $ 89.16 sq. ft. The absorption rate or numbers of months of available inventory is 5.2 which are tending towards a sellers’ market.

Units sold so far during 2011 are down slightly by 5 homes versus 8 months of 2010 or 4.1 % decrease. The good news here is the median price of homes sold has increased by $18,066 or 6.8 %. The discount from list price has been reduced from 5 % during 2010 to 4 % for 2011. This is also good news for home sellers. However, the median number of days on the market has increased from 50 last year to 76 days for 2011. This statistic tracks about the same as all of MLS area 36 and similar to Grand Lakes the neighborhood I wrote a market report earlier this month.

It is still excellent time to look and buy a home in Firethorne, Grand Lakes, Cinco Ranch or any other neighborhood in the Katy or surrounding areas.. If you and your family are interested in Firethorne or any other neighborhood in Katy contact me and I will arrange to take you on a tour of the whole area.