Katy Definitive Source: Seven Meadows and Market Report
Seven Meadows Katy TX is another large sized master planned community in the Katy real estate market. Seven Meadows was developed by Newland Community who is the same developer as the huge Cinco Ranch complex of separate neighborhoods . Seven Meadows has no new construction and has been totally built out for probably 4-5 years but is a very well maintained neighborhood.
This neighborhood is located off of Fry Road just west of Highway 99 or Grand Parkway. The primary road into the complex is the first left with a stoplight after the HEB shopping center on Fry Road which is also on the left hand side of the road. There are two areas within Seven Meadows where the some of the home's location are not considered ideal being these homes are either very close to Highway 99 or some homes which back to FM 1093 and have a large apartment complex facing the owner over the fence when they look in their backyards.
Seven Meadows has a very active Homeowners Association ( HOA) and if you want more information about this group click
here.
Seven Meadows covers approximately 1,000 acres of ground and has approximately 1,750 single family homes. This neighborhood has the distinction of being the first Wi-Fi community in the greater Houston area back in July 2005. Newland Community has historically been a leader in bringing new technology to their developments.
Builders in Seven Meadows were Darling Homes, David Powers, David Weekley, Emerald (DR Horton), Meritage, Lennar, Partners in Building, Plantation Homes and Taylor Morrison with prices advertised starting from the $130,000 to over $1.0 million. Seven Meadows received a year 2005 “Community of the Year” award from the Greater Houston Builders Association in the less than 2,000 acres size category. Seven Meadows has a gated section named Avalon at Seven Meadows and these homes are typically priced at a much higher level than most (if not all) of the other sections in the non-gated area. The gated area I feel consists mainly of beautiful custom built homes.
Like most of the rest of the master planned communities in the Katy area, Seven Meadows offers residents numerous amenities. These facilities include picnic pavilion, six acre central park with recreation center, several swimming pools, splash park, play areas, meeting rooms, numerous hike and bike trails, parks, water areas and meadows which serve as a drainage vehicle, two tennis courts and access to a golf course. Meadowbrook farms Golf Course is built into the community and offers residents a discount on green fees. I recently wrote a blog about Summer Golf lessons which are available to Junior Golfers.
Katy homes for sale in Seven Meadows indicate there are 12 homes available for sale in the non-gated section and there are 24 homes under contract. The range in price is from $236,000 for approximately 2,254 square feet of space to $936,000 for 6,936 square feet of space for a custom built home on a fairly large lot ( for this area). The median list price of available home consists of 3,550 square feet with a list price at $116.00 per square foot or $364,950. Prices have risen during the last year in this community. Similar to Grand Lakes, the available supply of inventory homes is very low as normally there would be 35 or more homes on the market. Seven Meadows is a sellers market right now and I do not see that changing in the immediate future.
The gated section, there are two homes available for sale with one priced at $1,249,000 and the other at $1,750,000. These two homes are also custom built with numerous features. There are 11 homes with executed contracts pending closing.
Below is a chart showing 4 months year-to-date sales of homes in Seven Meadows in the non-gated section versus same period last year.
| HOMES SOLD IN SEVEN MEADOWS KATY TX | |||||||||
| 4 MONTHS 2013 VS 2012 | |||||||||
| 2013 | 2012 | ||||||||
| DOLLAR | NUMBER | % OF | NUMBER | DIFF | |||||
| PRICE POINTS | OF HOMES | Total | OF HOMES | Y TO Y | |||||
| 100,000-150,000 | |||||||||
| 150,000 - 200,000 | 5 | 15.63% | 5 | 0 | |||||
| 200,000 - 250,000 | 7 | 21.88% | 6 | 1 | |||||
| 250,000 - 300,000 | 10 | 31.25% | 6 | 4 | |||||
| 300,000 - 350,000 | 4 | 12.50% | 2 | 2 | |||||
| 350,000 - 400,000 | 0 | 0.00% | 2 | (2) | |||||
| 400,000 - 500,000 | 2 | 6.25% | 1 | 1 | |||||
| over 500,000 | 4 | 12.50% | 4 | ||||||
| TOTAL | 32 | 100.00% | 22 | 10 | |||||
| Number Priced | 22 | 17 | |||||||
| Median Sales Price | $263,750 | $246,087 | |||||||
| Median Home SQ.FT. | 2,671.50 | 2,722 | |||||||
| Median Price /SQ.FT. | $99.30 | $87.32 | |||||||
| Cumulative Days on Market | 40.5 | 87 | |||||||
| Sellers Discount from list | 2.00% | 2.00% | |||||||
| Pending Sales | 24 |
Well is very clear that median sales prices have risen to $99.30 per square foot from last year figure of $87.32. Sales volume has increased by 10 homes to 32, inventory of available homes is down significantly as I said above and the cumulative number of days a homes is on the market has dropoped to 40.5 from 87 days. Prices are lower in Seven Meadows than Grand Lakes On average but the market is definitely in favor of sellers.
If you want sales information about the gated section contact me as I will happy to supply with this data.
Below is some additional links with data regarding Seven Meadows:
SEVEN MEADOWS
Seven Meadows is zoned to Katy ISD school district which is an excellent and highly rated district. All buyers need to do their own independent research regarding the individual schools and school districts in the are
If you want additional information about Seven Meadows either the gated or non-gated sections or would like to view this excellent community contact me at your earliest convenience.
If you want additional information about Seven Meadows either the gated or non-gated sections or would like to view this excellent community contact me at your earliest convenience via phone at 281-904-6772 or Email bobgilbert2003@msn.com. I would be happy to take you on a tour of this fine neighborhood and show you why Katy is a great place to live.
Katy Definitive Source: Seven Meadows and Market Report
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