Let’s take a look at the most recent real estate statistics for Zip Code 77494. The median single family home prices this week is $295,000. As graphed in the chart below this weeks prices continued to pull back from their recent highs.
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. However, inventory is no where near it’s early summer high. For an in-depth explanation, see my earlier article on absorption rates.
Days on the market is another vital statistic when evaluating market conditions. While time for sale has steadily gone up from the low dip in June, market time has not returned to the high in early April. There is another downward turn a the beginning of this week. This bodes well for Zip Code 77494.
For 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 or via email. I have specialized in Katy real estate for over 20 years. Experience does count!