Local Real Estate Market Report for YTD October 31, 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 YTD October 30, 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 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.  

There current are 65 homes available for sale in Firethorne (per HAR MLS) ranging from $169,795 to $499,971 in list price. Last month there were 71 homes available. The median list sales price or mid-point is $259,950 or $91.95/ sq. ft. with 69 days on the market. As I have reported for the last 3 months, there continues to be a good supply of reasonably priced homes now 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:

                                             Priced   $150.000 - $200,000    8 homes available                             (same as last month)

                                                                            $200,000 - $250,000         19 homes available             (decrease of 1 home from last month)

                                                                           $250,000 - $300,000          20 homes available              (increase of 1home from last month

                                                                                 $300,000 - $350,000            2 homes available                (decrease of 3 homes from last month)

                                                     $350,000 - $400,000            8 homes available              (decrease of 3 homes)

                                                      Over        $400,000               8 homes available                  (same of last month)

As we can see from the above chart, 47 homes (same as last month) or 72 % of the available homes are priced at $300,000 or less. The percentage of available homes priced at or less than $300,000 remained the same from August to September but increased in October by 6 % and the number of available homes decreased by 6. It is my personal opinion that this number will continue to decrease each month until spring as builders will try very hard to sell inventory homes and delay construction of new spec homes. 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.

 

During the first 10 months of 2011, there were 143 homes sold in Firethorne with low being $149,500 and the high being $574,950. The median adjusted sales price or mid-point price of homes sold so far this year is $275,000 or $87.65/ sq. ft. and the average adjusted sales price is $289,231 or $ 88.94/ sq. ft. The absorption rate or numbers of months of available inventory is 3.3 months which are continuing to move into a strong sellers’ market as this has gone down each month since August when the supply was 5.2 months.

Units sold so far during 2011 are down slightly by 8 homes versus 10 months of 2010 or 5.3 % decrease. The good news here is the median price of homes sold has increased by 6,000 or 2.2%. 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 for the rest of this year. This is also good news for home sellers. However, the median number of days on the market has increased from 54 last year to 84 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.

Homes in Firethorne Katy Texas

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  I and will be happy to arrange to take you on a tour of the whole area.

 

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Show All Comments
Rainmaker
740,782
Will Nesbitt
Nesbitt Realty at Condo Alexandria - Alexandria, VA
Nesbitt Realty is a family-run brokerage.

Great post Robert, looks like the market is doing well in Katy Texas. Hope you close something soon!

Nov 21, 2011 10:10 AM #1
Rainmaker
584,926
Dan Edward Phillips
Dan Edward Phillips - Eureka, CA
Realtor and Broker/Owner

Good Morning Bob, a very interesting market report for Firethorne.  Excellent prices and a selection of homes to choose from.

Nov 21, 2011 11:32 AM #2
Ambassador
750,792
Debb Janes
The Carl Group, LLC - Camas, WA
REALTOR®, EcoBroker Camas, Washington

Those market reports are so important to buyers. You're doing a good job with consistency on these...and I've told you Fireshorne sounds like a great spot to call home. Hope you're having a good Monday, Bob.   D

Nov 21, 2011 01:29 PM #3
Rainmaker
1,105,667
Robert (Bob) Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX Real Estate Expert

Hi everyone,

I could not log in to AR for several hours this morning so I am behind in my comments. Firethorne is an excellent neighborhood with ample supply of reasonably priced homes. I am trying hard to give readers of these reports the same but expanded version of my market report each. Just about  all the data I now included is asked by one or in combination with other folks by more than client /potential client.

Nov 21, 2011 02:07 PM #4
Rainmaker
1,657,168
Dorie Dillard
Coldwell Banker United Realtors - Austin, TX
Realtor-Canyon Creek- NW, Austin TX Homes For Sale

Good afternoon Robert,

Buyers really want to see these reports and Debb is right..you are consistent with your keeping up with how your Firethorne market is doing. Firethorne certainly appears to be a viable, vibrant community.

Nov 21, 2011 03:23 PM #5
Rainmaker
839,542
Joshua Zargari
MJ Decorators Workshop LI staging and home decorating - Lynbrook, NY
MJ Decorators Workshop

Hi Bob.

That is a great list Local Real Estate Market Report for YTD October 30, 2011 Firethorne in Katy Texas 

Nov 21, 2011 03:29 PM #6
Anonymous
Anonymous
Anonymous

Did they name Firethorne after the pyracantha? I guess Pyracantha doesn't make a good name for a neighborhood. LOL

 

Nov 21, 2011 03:32 PM #7
Anonymous
Anonymous
Anonymous

I couldn't find my pyracantha pictures before I left for my inspection, but Eric found them for me.

Pyracantha

Pyracantha

 

My wise old grandmother had several bushes that I had to keep trimmed. I despised them because of the thorns, but if you don't keep them under control they really grow wild and wooly. I do like the red berries because they attracted the most beautiful of birds - Mexican jays, mockingbirds, robins....

I still only like them, though, if they are on someone else's property so that I don't have to prune them.

The two pictures above are from my property that I had here from 1999-2001. They were out of the way on two acres of land, so I left them alone.

Nov 21, 2011 07:10 PM #8
Anonymous
Anonymous
Anonymous

Howdy and evening Bob

Bob, you sure do post mighty good looking Market Reports! This one here for the Firethorne community there in Katy, sure is a mighty well written one.


Have a good one
Dale in New Hampshire

Nov 21, 2011 11:03 PM #9
Rainmaker
615,144
Barbara Altieri
RealtyQuest, Fairfield and New Haven County CT Real Estate - Shelton, CT
REALTOR-Fairfield County CT Homes/Condos For Sale

Bob -- Now, your blog posts on Firethorne in Katy TX would be exactly what I would be looking for if I were a seller or buyer in Katy.  With the absorption rate declining and low interest rates, buyers need to stop procrastinating and contact you, Bob Gilbert, REALTOR, in the Firethorne neighborhood in Katy, TX. 

Nov 22, 2011 10:58 AM #10
Anonymous
Anonymous
Anonymous

Howdy there Bob my friend, members and non-member folks sure can always visit your blog and find and read all kinds of mighty helpful info which is for folks of all ages, which sure will help them in some way or another. This here sure is some outstanding Real Estate info for folks and they sure will appreciate you for posting this.

Feb 11, 2014 03:11 PM #11
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Rainmaker
1,105,667

Robert (Bob) Gilbert

Your Katy TX Real Estate Expert
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