Katy City Limits

Smith Family Team in Austin

We're in Aistin Texas attending the Prudential Real Estate Sales Conference. We were just reminded that this may be the first time that both homes and mortages are both on sale....

West Katy Real Estate Market Report - 01/2010

What's happened in the West Katy real estate market for the first month of 2010?

Here’s the market update from the Houston Association of Realtors year to date as of the end of January, 2010. This information is for Area 25 - Far West Houston which includes 'Katy City Limits'.

There were 153 sales YTD in 2010 vs. 140 in 2009, this represents an increase in sales of 9.29%.  The average sales price YTD is $134,450 which is an increase of 6.93% over 2009.

The median price home is up 4.98% - from $109,500 in 2009 to $114,950 in 2010. Sales price per square foot has gone from $57 in 2009 to $62 in 2010 – an increase of 8.77%. There have been 407 new listings YTD - vs. 335 for the same period in 2009.  That's an increase of 21.49% on the market this year.   As a result there are 7 fewer pending sales this year or 4.40% less.  The days on market for home sales has decreased from 102 in 2009 to 66 in 2010.  There is currently 4.7 months inventory on the market - which means that if no additional homes go on the market all the homes listed would be sold in 4.7 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 compiled by the Houston Association of Realtors Multiple Listing Service.

Real Estate Market Trends for Zipcode 77493

If you like graphs, click here for real estate market trends in zipcode 77493.  If you are interested in receiving graphs, email your zipcode to  Graphs@SmithFamilyTeam.com.

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.  

West Katy Real Estate Market Report

What's happened in the West Katy real estate market for the first quarter of 2009?

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

There were 532 sales YTD in 2009 vs 615 in 2008, this represents a drop in sales of 13.5%.  The average sales price YTD is $125,352 which is a decrease of 9.35% from 2008.

The median price home is down 10.17% - from $125,240 in 2008 to $112,500 in 2009. Sales price per square foot has gone from $64 in 2008 to $57 in 2009 - a drop of 10.94%. There have been 1021 new listings YTD - vs 1360 in 2208.  That's a reduction of 24.93% on the market this year.   As a result there are 87 fewer pending sales this year or 14.85% less.  The days on market for home sales has increase from 93 in 2008 to 95 in 2009.  There is currently 4.7 months inventory on the market - which means that if no additional home go on the market all the homes listed would be sold in 4.7 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.

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.

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 July, 2008. This information is for Area 25 - Far West Houston which includes 'Katy City Limits'.

There were 1601 sales YTD in 2008 vs 1901 in 2007, this represents a drop in sales of 15.78%.  The average sales price YTD is $137,582 which is an increase of .44% of 2007.

The median price home is down 4.69% - from $127,160 in 2007 to $121,200 in 2008. Sales price per square foot has gone from $66 in 2007 to $64 in 2008 - a drop of 3.03%. There have been 3320 new listings YTD - vs 3977 in 2207.  That's a reducdtion of 16.52% on the market this year.   As a result there are 188 fewer pending sales this year or 12.04% less.  The days on market for home has increase for 73 in 2007 to 87 in 2008.  There is currently 6 months inventory on the market - which means that if no additional home go on the market all the homes listed would be sold in 6 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.

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 June, 2008. This information is for Area 25 - Far West Houston which includes 'Katy City Limits'.

Single family home sales are down by 18.01% in comparison to June YTD 2007, with 1,329 recorded home sales YTD.

Listings are down by 28 units in comparison to last year or 1.77% with 1550 listings currently on the market compared to 1,578 last year.

Average sales price for the Far West area is down by .66% over June YTD 2007 and is currently $136,391.  The median sales price (where half the homes sold above and half the homes sold below) was $122,900, a 3.61% decline over last year.,

The Far West area currently has 6.4 months of inventory, meaning if not other llistings were taken, and buyer demand stayed at current levels, it would take 6.4 months to deplete the current supply of homes.

The list price/sales price ratio of homes in the area is 97% (a seller could expect a reasonably priced home to sell for 97% of the list price). Average price per square foot in the area is $63. Days on the market have increased substantially due to a flood of inventory, from 2007 to present - from 73 days to 88 days.

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.

Home Prices Reach Record Highs

According to a Houston Association of Realtors press release today -

Houston Area Home Prices Reach Record Highs In June Despite Another Drop In Sales

Soaring average and median prices remain the silver lining of the sales slowdown that began last fall.  Click here for details - there are variations in the real estate market throughout the 'greater Houston' area.  For details in your subdivision, go to www.SmithFamilyTeam.com and find out what the current market condition are in your neighborhood.