Market Report Katy TX: 77450 and 77494
South of I-10: I often get asked which of the two zip codes in south Katy is doing better in this real estate market. The truth is both zip codes are performing very much the same.
For more specific answers, let’s look at some detailed statistics prepared today with the very latest data. The black line represents zip code 77450 and the orange line represents 77494.
Median Price in 77450: This week, the median single-family home price in Katy 77450 is $226,500. This week prices in this zip code remained relatively flat. However, the recent trends have us pulling back from the market’s high points.
Keep an eye on the Market Action Index (see below) for a leading indicator of the duration of this downward trend. The Market Action Index answers the question, “How is the market?” It measures the current rate of sales versus the amount of the inventory.
Median Price in 77494: This week, the median single-family home price in Katy 77494 is $300,247. This week prices in this zip continued to pull back from their recent highs. Keep an eye on the Market Action Index to look for signs of an extended downward trend.
Inventory in 77450 and 77494: Local conditions are currently quite strongly in the Buyer’s Market zone. With several months of inventory available at the current sales rate, buyers should find ample choice. Being Springtime, the annual increase in listings is a part of this data.
Average Days on the Market in 77450 and 77494: Days-on-the-Market are trending downward. Even as more properties become available, these are positive trends for the market. With inventory trending up but Days-on-the-Market trending down, conditions don’t seem to have strong up or down pull.
Median Market Action Index 77450
Median Market Action Index 77494
Market Action Index 77450 and 77494: On the Market Action Index a score below 30 equals a Buyers Market. The Market Action Index is 17 in Katy zip code 77450 and 15 in Katy zip code 77494.
For more information about Katy area homes, you can search the entire Houston MLS from this blog. For questions or to tour any area homes, contact me directly at 713-818-2404. I have specialized in Katy real estate for over 20 years. Experience does count!
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