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Home Market Trends 2012 Update for Current Home...

Market Trends 2012 Update for Current Homes Available in Grand Lakes Katy Texas

Market Trends 2012 Update for Current Homes Available in Grand Lakes Katy Texas

What is happening in Grand Lakes Real Estate Market?

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 the whole area. I have written several detail market reports about Grand Lakes in the past with the last on being a December 2011 Year to Date report which you can see right here.

The Chart is showing current listings of homes for sale in Grand Lakes in Katy Texas by price point ranges during March, 2012.

HOMES AVAILABLE IN GRAND LAKES

March

DOLLAR

NUMBER

DISTRESSED

NUMBER

% OF

CHANGE

PRICE POINTS

OF HOMES

PROPERTY

< 300,000

Total

FROM JAN.

<100,000

0

0

100,000-150,000

0

0

150,000 - 200,000

4

(4)

200,000 - 250,000

5

(2)

250,000 - 300,000

4

13

31.7%

0

300,000 - 350,000

10

24.4%

6

350,000 - 400,000

2

1

4.9%

(3)

> 400,000

15

36.6%

5

FORECLOSURE

0

SHORT SALE

1

2.4%

TOTAL

41

100.00%

2

As shown there are 41 homes currently available in Grand Lakes with only 1 home or 2.4 % of the total being classified as Distressed (Foreclosure or Short Sale). The Distressed Homes are not having any significant impact on the market in Grand Lakes or for that matter a vast majority of the submarkets in Katy Texas. Since January 2012, there has been a slight increase in available homes by 2 homes or 5.1 %. However, there has been a decrease of 6 homes priced at less than $300 K as the inventory of reasonably priced homes in Grand Lakes continues to diminish as it has through most of 2011. Right now only 31.7 % of the available homes are priced at less than $300 K while during January and December those same numbers were 40.5 % and 48.7 % respectively. On the other side of the coin, homes priced at $400 K or higher have risen to 36.6 % of the total reflecting a 4.2% increase.

Grand Lakes is a great place to live with many amenities and conveniences close at hand. If you or your family would like to learn more about this wonderful family neighborhood contact me . I have been saying this for several months the inventory of the lower priced homes in this neighborhood probably will continue to get smaller as 2012 goes on even though there will be new listing coming on the market. Time to take action is right now as interest rates continue to hover around historical lows. What are you waiting for A miracle?

Please see Active Rain’s article on Real Estate Recovery or Not?


Real Estate Recovery


Posted Sunday Mar 11