Local Real Estate Market Report for Year 2011 Firethorne in Katy Texas

By
Real Estate Agent with Berkshire Hathaway HomeServices Anderson Properties TX Real Est. 567774

 

Local Real Estate Market Report for Year 2011 Firethorne in Katy Texas

 

 

The Firethorne neighborhood is 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. The neighborhood recently opened a new section of homes that are being built east of FM 1463 while the main section of already built homes is west of 1463. FM 1463 gives commuters easy access to I-10 as it maybe 2-3 miles away and to FM 1093 and the West Park Toll way. Firethorne subdivision is located in an excellent spot with easy access to several major roads. It has a same town feel while being close to the big city.


Firethorne sign Katy Texasmls area 36, firethorne, katy 

 

 

Firethorne consists 1,400 acres plus of land with numerous amenities and recreational facilities scattered through the neighborhood. 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 both the Katy and Fulshear areas of far western Houston away from the hustle and bustle of the big city but very close to old Katy Texas. A significant portion of Firethorne is zoned for Katy ISD and the remaining sections are zoned for Lamar ISD.  Firethorne is a very beautiful area and has ample recreational facilities. Living allows residents to easily stay in the neighborhood or only travel very close by it.

 

There current are 50 homes available for sale in Firethorne (per HAR MLS) ranging from $159,900 to $499,971 in list price. Last month there were 59 homes available. The median list sales price or mid-point is $265,400 or $91.93/ sq. ft. with 116 days on the market. As I have reported for the last43 months, there continues to be a good supply of reasonably priced homes available in Firethorne and that combined with the small town atmosphere makes Firethorne a must see for families looking for home in the Katy area. If we examine the breakdown of available homes it indicates:

 

HOMES AVAILABLE IN FIRETHORNE

     

17-Jan-12

     
           

DOLLAR

 

NUMBER

NUMBER

% OF

CHANGE

PRICE POINTS

 

OF HOMES

< 300,000

Total

LAST MONH

           

<100,000

 

0

   

0

100,000-150,000

 

0

   

0

150,000 - 200,000

 

7

   

1

200,000 - 250,000

 

13

   

(3)

250,000 - 300,000

 

10

30

60.0%

(1)

300,000 - 350,000

 

5

 

10.0%

2

350,000 - 400,000

 

8

 

16.0%

(4)

> 400,000

 

7

 

14.0%

(4)

           

TOTAL

 

50

   

(9)

 

 

As we can see from the above chart, 30 homes (down from 33 last month) or 60 % of the available homes are priced at $300,000 or less. The percentage of available homes priced at or less than $300,000 increased but the actual number decreased by 3 while overall inventory was reduced by 9 homes. It is my personal opinion as it has been for the last 4-5 months that the number of reasonably priced homes will continue to decrease each month until late spring or early summer as builders will try very hard to sell inventory homes and delay construction of new spec homes. As I have said several times this year, if you thinking of buying a home in this area of Katy or any other master planned community stop procrastinating and take action as these very affordable homes are slipping through your fingers. Activity levels during early January 2012 indicate many buyers are back in the market once again.

 

 

 

During the first year of 2011, there were 176 homes sold in Firethorne with low being priced at $149,500 and the high being priced at $612,004. The median adjusted sales price or mid-point price of homes sold the year of 2011 is $270,911 or $87.19/ sq. ft. and the average adjusted sales price is $286,920 or $ 88.58 sq. ft. The absorption rate or numbers of months of available inventory is 3.4 months which has continued to move into a sellers’ market position as this indicative statistic has gone down almost every month since August when the supply was 5.2 months.

 

The breakdown of sales for year 2011 is as follows:

 

HOMES SOLD IN FIRETHORNE

       

12 MONTHS 2011

       
             

DOLLAR

 

NUMBER

NUMBER

% OF

CHANGE

 

PRICE POINTS

 

OF HOMES

< 300,000

Total

LAST YEAR

 
             

<100,000

 

0

   

0

 

100,000-150,000

 

0

   

0

 

150,000 - 200,000

 

30

   

6

 

200,000 - 250,000

 

40

   

(9)

 

250,000 - 300,000

 

34

104

59.1%

(15)

(18.00)

300,000 - 350,000

 

25

 

14.2%

3

 

350,000 - 400,000

 

22

 

12.5%

(2)

 

> 400,000

 

25

 

14.2%

6

 
             

TOTAL

 

176

   

(11)

-5.88%

 

Units sold so far during 2011 are down slightly by 11 homes versus year of 2010 or 5.9 % decrease. The good news here is the median price of homes sold has increased by $2,561 or .9 %. The discount from list price has been reduced from 5 % during 2010 to 3 % for 2011 as this seller concession amount has decreased and I personally think this will continue during early 2012. This is also good news for home sellers. However, the median number of days on the market has increased from 59 last year to 85 days for 2011. This statistic tracks about the same as all of MLS area 36 and similar to Grand Lakes and several other neighborhoods in the Katy Area. Prices of resale homes in Firethorne are lower than in Grand Lakes.

 

There are 13 pending sales in Firethorne with 4 homes being priced above the $300,000 level and 9 priced below that level. There are NO available foreclosure or short sale homes.

 

The year 2011 found 6 foreclosures being sold in Firestone at a median price of $197,150.  

 

 

It is still excellent time to look and buy a home in Firethorne, Grand Lakes, Cinco Ranch ( new and resale), Seven Meadows, Silver Ranch, Kelliwood, Green Trails  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 and I will be happy to arrange to take you on a tour of the whole area.

If you or your family would like to search for homes in Firethorne or another neighborhood in Katy or search the Houston MLS go to my profile on Houston Assocation of Realtors.



 

 

Posted by

© 2016 Bob Gilbert Real Estate

 

Accredited Luxury Home Specialist

 

Note: Katy TX is about 25 -30 miles due West of downtown Houston TX.

 

If you have any questions about Katy Homes for Sale or Katy Homes for Rent in the Katy Texas and/or Sugar Land TX, and/or Cypress TX and/or other surrounding areas, contact me via my cell: 281-904-6772 or via Email:

 

 

 bobgilbert2003@msn.com or bob@bobgilbert.com

or visit me on my web site at

 

http://www.katyhomefinder.com

or visit me on Google plus

and FaceBook at https://www.facebook.com/bobgilberttx

 

Scan me with your smartphone to bookmark
our mobile website at http://katytx.realbird.com

 

 

 

 

 

 

 

 

 

 

 

Start “Living the Luxurious Dream” Katy TX

 

  

 

 

 

 

 

 

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Read my blog at http://bobgilbertblog.com

 

Search Homes in Katy or anywhere in the Houston area. 

 

© 2007- 2016 Bob Gilbert 

 

 

 

 

 

 

 

 

 

 

 

  

       

                      

 

 

 

 

 

 

 



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Ambassador
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Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

You guessed it - I am a little jealous of no home sale prices under $150K in Firethorne!

Jan 26, 2012 03:15 AM #1
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Bryan Robertson
Los Altos, CA

I think you're reports are really good Bob.  Very detailed and the advice is spot on.  If the entry-level homes are selling and inventory is dropping, it's best to just find a nice home, buy it and stop waiting.  Prices won't get better and buyers will waste more money where they are.

Jan 26, 2012 06:02 AM #2
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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Hey Bob , I agree with Bryan, very detailed market report. Buy now and call Bob Gilbert! It is the perfect time to purchase a new home, especially when you have an excellent guide.

Jan 26, 2012 06:18 AM #3
Rainmaker
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Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Renee, Bryan and Debb,

Thanks for all the very nice comments and compliments. I appreciate it. The buyers I am running into these days are for the most part very savvy and ask a lot of market numbers related questions. Personally I think that is great and makes me very happy as I am a numbers type of guy!.

Jan 26, 2012 06:44 AM #4
Rainmaker
5,306,290
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Home buyers have to love the attractive prices in Katy.

Jan 26, 2012 07:55 AM #5
Rainmaker
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Al Raymondi
Ocean View Realty Group in Ormond By The Sea Florida - Ormond Beach, FL
Ormond By The Sea Florida - Home and Condo Sales

Great market report for Firethorne Bob, looks like that market is doing well and buyers should get in on the low prices and low interest rates while they can.

Jan 26, 2012 08:37 AM #6
Rainmaker
1,433,977
Yolanda Cordova-Gilbert
Richmond, TX

Bob,

           Another good market report! Firethorne also has easy access to I-10.

Jan 26, 2012 08:52 AM #7
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Joni Bailey
101 Main St. Realty - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTOR®

Bob: Thanks for keeping everyone in the loop on the current Firethorne real estate market!

Jan 26, 2012 08:55 AM #8
Rainer
639,083
Carl Winters
Canyon Lake, TX

A 1400 acre development is pretty big with lots of amenities. Sounds like a great community to live and affordable homes in Firethorne at Katy TX.

Jan 26, 2012 12:46 PM #9
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Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
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I too am jealous of NOTHING under 150K when our market MEDIAN is only 110,000.  It is rare to get a sale over 150K and yet that is all you get. 

But with higher prics ad lower inventory, THAT IS WONDERFUL NEWS to report and SHOUT about!

Jan 26, 2012 02:36 PM #10
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Dale Baker
Baker Energy Audits and Commercial Properties Inspections - Claremont, NH
New Hampshire Relocation Real Estate Information

Howdy and evening Bob

Bob my friend, this mighty fine Market Report that you've done for Firethorne there in Katy sure is loaded with mighty helpful info for folks. Firethorne sure does offer folks a whole. Folks sure do have a mighty fine selection of homes to pick from.

Have a good one
Dale in New Hampshire

Jan 26, 2012 02:38 PM #11
Rainmaker
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C. Lloyd McKenzie
Albuquerque, NM
Living Albuquerque

Good Evening Robert:

Excellent Report on the Frethorne Neighborhood of Katy, TX. This is a great time for prospective uyers to Call Robert Gilbert to find their Dream Home in Katy

Jan 26, 2012 04:00 PM #12
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