Market Trends 2012 Update for Home Sales in South Katy Cinco Ranch West

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

 

Market Trends 2012 Update for Home Sales in South Katy Cinco Ranch West

What is happening in Cinco Ranch West Real Estate Market in terms of actual sales during 2012?

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 this whole geographically large area. I have written several detail market reports about some of these local master planned communities in the past but not for Cinco Ranch. The problem with Cinco Ranch is that there are numerous separate neighborhoods covering a very large geographical area which comprise Cinco Ranch. These separate neighborhoods lose their individual identity in the MLS recording system. The MLS system was revised last year and we can now run reports for Cinco Ranch West (West of Highway 99) which includes all the new construction going on in Cinco Ranch area and other neighborhoods added during say the last 5 years.

 

The Chart below is showing homes sold in Cinco Ranch in Katy Texas by price point ranges during the first two months of 2012 versus the same period for 2011.   

HOMES SOLD SOUTH KATY CINCO RANCH WEST

   

2 MONTHS 2012

   
   

2012

     
             

%

 

DOLLAR

 

NORMAL

DISTRESSED

TOTAL SOLD

% OF

TOTAL

CHANGE

 

PRICE POINTS

 

 HOMES

PROPERTY

HOMES

Total

2011

year to year

 
                 

 

0

0

0

0.0%

0

0.00%

 

100,000-150,000

 

0

0

0

0.0%

1

-1.41%

 

150,000 - 200,000

 

3

0

3

3.7%

5

-2.82%

 

200,000 - 250,000

 

16

0

16

19.8%

13

4.23%

 

250,000 - 300,000

 

16

0

16

19.8%

13

4.23%

 

300,000 - 350,000

 

19

0

19

23.5%

11

11.27%

 

350,000 - 400,000

 

10

0

10

12.3%

15

-7.04%

 

> 400,000

 

17

0

17

21.0%

13

5.63%

 
     

0

         

Subtotal

 

81

0

81

100.0%

71

14.08%

 
                 

FORECLOSURE

 

0

   

0.0%

     

SHORT SALE

 

0

   

0.0%

     
                 
                 

TOTAL

 

81

0

         
                 
                 

NUMBER

               

     

35

43.2%

32

45.1%

 
                 

Median Sales Price

 

312,229

     

286,980

   

Average sales price

 

344,694

     

321,199

   
                 

Median Price /SQ.FT.

 

96.68

     

93.75

3.1%

 
                 

Cumulative Days on Market

 

84

     

93

   

Sellers Discount from list

 

5.00%

     

5.00%

   
                 

Pending Sales

 

41

     

N/A

   
                 
                 

 

 

As we can see from the chart, actual sales in Cinco Ranch West during 2012 are 81 homes with 35 priced less than $300 K while 2011 for the same period there were 71 homes sold with 32 priced less than $300 K. Obviously, it is still early in the year with a lot of activity will occur during the remainder of 2012. Unit sales have increased 14% while homes priced at

The chart is also showing that the median and average prices on the year to year comparison have increased by 8.8% and 7.3 % respectively. A major factor in this increase in price is the number of new homes being sold in 2012 is higher than in 2011 and simple price inflation of materials needed to build a new home is on the rise. The median sq. footage of homes sold is up by 154 sq. ft. or 4.9 %. These figures are all good news for sellers. I have been telling folks for many months that there were numerous reasonably priced homes available throughout South Katy but the supply will only continue to dwindle and prices will also continue to increase. Both of these trends are happening right now in The South Katy market and especially in Cinco Ranch West.

The discount sellers are willing to give has remained constant at 5%. Pending sales are 41 homes in Cinco Ranch West during 2012. I do not have comparable number for 2011. Cumulative Days on the market has decreased in 2012 from 93 days to 84.

The market for sales in Cinco ranch West, Grand Lakes and Firethorne are healthy and I believe will show strength during the rest of 2012. As shown in my March reports of Market Trends the distressed homes are not having very much if any impact on the market for homes in this neighborhood and the others I have covered in my reports. If you are waiting for the golden rainbow deal by buying a distressed home in Grand Lakes, Firethorne and Cinco Ranch West you will still be waiting years from now and interest rates will be back to more normal levels.

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 and construct a search.

Real Estate Recovery

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

 

  

 

 

 

 

 

 

Katy Texas Real Estate Expert

 

 

 

 

 

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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Joni Bailey
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If you are interested in buying or selling a home in Cinco Ranch, call Bob Gilbert at (281) 904-6772 TODAY!

Mar 25, 2012 11:41 PM #1
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Great market report on Cinco Ranch - call Bob for your real estate needs in Cinco Ranch!

Good to see the increase of median and average prices as well. 

Mar 26, 2012 04:53 AM #2
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Dale Baker
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Howdy and afternoon Bob

Bob my friend
, you sure do always give folks mighty fine info that they need to help understand what is going on with Real Estate in and around the mighty fine area of Katy, Texas.

One of the main things that I really like about the many mighty fine reports which you have wrote and posted to help folks has to do with the fact, they are always down to Earth reports which are always easy to fully understand.

By doing that, sure does help me to enjoy visiting and reading Market Trend Reports. Which I'm sure that other folks also appreciate it also.

My hat is off to you for always thinking of others, and I'm sure mighty Proud and Honored to call you one of my top friends here in the ActiveRain community.

I sure would send Family, Friends and other Folks to you to help them with their Real Estate Buying needs in the Katy, Texas area!

Have a good one
Dale in New Hampshire

Mar 26, 2012 10:37 AM #3
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Roy Kelley
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Thanks for sharing your market report. It is a wonderful time for home buyers to take advantage of the attractive prices and very low mortgage interest rates.

Mar 28, 2012 12:24 AM #4
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Howdy there Bob my friend, you sure post such outstanding Local Info and Real Estate blog posts for folks to enjoy visiting at your outstanding blog full of helpful info. Plus folks sure do always get to find mighty enjoyable reading when they visit. I know other folks sure must also enjoy stopping by to visit your mighty fine blog. Folks if you are needing help with Real Estate, then do take the time to talk with Bob and you’ll sure learn he is the one an only to work along side.

Feb 25, 2014 05:03 AM #5
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