Market Trends 2012 Update for Current Homes Available in South Katy Texas
What is happening in the entire South Katy Real Estate Market?
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 the whole area and this report is about the whole South Katy area combined. I have written several detail market reports about entire South Katy market in the past with the last on being a December 2011 Year to Date report which you can see right here.
The Chart is showing current listings of homes for sale in South Katy or MLS area 36 in Katy Texas by price point ranges during March, 2012.
|
HOMES AVAILABLE IN SOUTH KATY |
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|
Mar-12 |
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|
DOLLAR |
NUMBER |
DISTRESSED |
TOTAL |
NUMBER |
% OF |
CHANGE |
|
|
PRICE POINTS |
OF HOMES |
PROPERTY |
HOMES |
|
Total |
FROM JAN |
|
|
|
13 |
8 |
21 |
(15) |
|||
|
100,000-150,000 |
57 |
11 |
68 |
(10) |
|||
|
150,000 - 200,000 |
131 |
9 |
140 |
(30) |
|||
|
200,000 - 250,000 |
147 |
9 |
156 |
(7) |
|||
|
250,000 - 300,000 |
132 |
2 |
134 |
519 |
57.8% |
1 |
|
|
300,000 - 350,000 |
102 |
2 |
104 |
11.6% |
7 |
||
|
350,000 - 400,000 |
73 |
2 |
75 |
8.4% |
(8) |
||
|
> 400,000 |
198 |
2 |
200 |
22.3% |
24 |
||
|
Subtotal |
853 |
45 |
100.0% |
(38) |
|||
|
FORECLOSURE |
22 |
2.4% |
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|
SHORT SALE |
23 |
2.6% |
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|
TOTAL |
898 |
45 |
898 |
(38) |
As shown above there are 898 homes currently available in South Katy with 45 homes or 5.0% of the total being classified as Distressed (Foreclosure or Short Sale). The Distressed Homes are not having a material impact on the market in South Katy or for that matter a vast majority of the submarkets or master planned communities that make up South Katy. There are a few scattered neighborhoods where the Distressed properties are having some effect on the market but those are very few compared to the total neighborhoods in the whole area. My reports for both Grand Lakes, and Firethorne had a similar observation. Since January 2012, there has been a decrease of available homes by 38 homes or 7.3%. However, there has been a decrease of 61 homes priced at less than $300 K during the first 2 months of 2012. Currently there are 57.8% of the available homes priced less than $300 K. while during January the same statistic was approximately 62%. The overall market is showing the same trends have been seen in several other neighborhoods as the percentage of affordable homes has been on the decline for several months.
South Katy is an excellent place to live with many amenities and conveniences close at hand. If you or your family would like to learn more about this wonderful family neighborhood contact me. Time to take action is right now as interest rates continue to hover around historical lows and builders in Firethorne have added to their spec inventories. I expect Firethorne to have a big selling season during the remainder of 2012.
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 to do a search of the entire market.
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