West Katy Real Estate Market Report

What's happening in the real estate market?

Below is the market update from the Houston Association of Realtors year to date as of the end of February, 2009. This information is for Area 25 - Far West Houston which includes 'Katy City Limits'.

There were 328 sales YTD in 2009 vs 352 in 2008, this represents a drop in sales of 6.82%.  The average sales price YTD is $125,448 which is a decrease of 8.82% from 2008.

The median price home is down 7.71% - from $123,530 in 2008 to $114,000 in 2009. Sales price per square foot has gone from $63 in 2008 to $58 in 2009 - a drop of 7.94%. There have been 669 new listings YTD - vs 934 in 2208.  That's a reducdtion of 28.37% on the market this year.   As a result there are 55 fewer pending sales this year or 14.75% less.  The days on market for home sales has increase from 94 in 2008 to 101 in 2009.  There is currently 4.8 months inventory on the market - which means that if no additional home go on the market all the homes listed would be sold in 4.8 months.

Keep in mind that there are variations in the market within the area - to see what is happening in your neighborhood go to SmithFamilyTeam.com and order your personalized Market Report.

Data compliled by the Houston Association of Realtors Multiple Listing Service.

What's happening in the real estate market?

Below is the market update from the Houston Association of Realtors year to date as of the end of February, 2009. This information is for Area 25 - Far West Houston which includes 'Katy City Limits'.

There were 328 sales YTD in 2009 vs 352 in 2008, this represents a drop in sales of 6.82%.  The average sales price YTD is $125,448 which is a decrease of 8.82% from 2008.

The median price home is down 7.71% - from $123,530 in 2008 to $114,000 in 2009. Sales price per square foot has gone from $63 in 2008 to $58 in 2009 - a drop of 7.94%. There have been 669 new listings YTD - vs 934 in 2208.  That's a reducdtion of 28.37% on the market this year.   As a result there are 55 fewer pending sales this year or 14.75% less.  The days on market for home sales has increase from 94 in 2008 to 101 in 2009.  There is currently 4.8 months inventory on the market - which means that if no additional home go on the market all the homes listed would be sold in 4.8 months.

Keep in mind that there are variations in the market within the area - to see what is happening in your neighborhood go to SmithFamilyTeam.com and order your personalized Market Report.

Data compliled by the Houston Association of Realtors Multiple Listing Service.