Katy City Limits

West Katy Real Estate Market Report

What happened in the West Katy real estate market for the year of 2009?

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

There were 2636 sales in 2009 vs. 2734 in 2008; this represents a drop in sales of 3.58%.  The average sales price YTD is $137,880 which is a decrease of .17% from 2008.

The median price home is the same for both 2009 and 2008, $120,000. Sales price per square foot has gone from $63 in 2008 to $62 in 2009 - a drop of 1.59%. There were 4192 new listings in 2009 - vs. 4915 in 2008.  That's a reduction of 14.71% on the market this year.   As a result there are 179 fewer pending sales in 2009 or 8.34% less.  The days on market for home sales has decreased from 96 in 2008 to 75 in 2009.  There is currently 4.5 months inventory on the market - which means that if no additional home go on the market all the homes listed would be sold in 4.5 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 or, complete the form below.

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

Has The Real Estate Market Stabilized?

This is the question I'm asked most often...... The Houston Association of Realtors just released the MLS statistics for October, 2009. HAR states, 'The lingering effects of Hurricane Ike back in October 2008 combined with recent homebuying activity spurred by the federal government’s $8,000 first-time homebuyer tax credit produced positive numbers for the Houston real estate market in October.'

Great news for Houston.  But, remember all real estate is local and the Houston MLS covers a large are.  Using the form below, you can determine immediately from MLS data what's going on in your neighborhood.