Katy Home Prices Continue to Rise as Demand Outweighs Supply

Family Room

Pictured above is a Cinco Ranch Southwest home that I listed in late February. We had 18 showings the very first day and four offers. It sold for $10,000 above list price cash!

I have never, in my 24 years of selling Katy real estate, seen a market as ferocious as this one! It’s a seller’s dream come true and a real challenge for buyers. Buyers definitely need to be working with a Realtor so they can get into see the new listings as soon as they go on the market!

March brought about the 34th consecutive month of positive home sales, despite the record low 2.6-month supply of inventory that has prevailed throughout 2014.

According to the latest monthly report prepared by the Houston Association of Realtors (HAR), home sales rose 3.7 percent year-over-year, with March single-family home sales totaling 5,971. That is the largest one-month sales volume recorded since last September.

The supply of homes first reached 2.6 months of inventory in December 2013 and has held steady ever since. However, it is down from the 3.5-month supply in March 2013 and significantly lower than the national supply of 5.2 months of inventory.

The average price of a single-family home increased 11.0 percent year-over-year to $261,329. The median price—the figure at which half the homes sold for more and half for less—climbed 9.8 percent to $189,900. Both figures represent the highest prices Houston has ever seen in a March.

Single-family homes priced from $250,000 through the millions saw the greatest sales activity and accounted for the latest jump in prices. Homes priced at $150,000 and below experienced declines.

“Houston home sales rose again in March, with most of the buying taking place at the higher end of the market,” said HAR Chair Chaille Ralph with Heritage Texas Properties. “We’ve also seen Read the rest of this entry »

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David Weekley Homes and the New Cinco Ranch Development — Ashfield Gardens

 

David Weekley

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Ashfield Gardens is an exclusive new area within Cinco Ranch. It offers easy access to freeways, shopping, entertainment, restaurants, 11 swimming pools, tennis courts, bike/walking trails and an 18 hole golf course. Set right in the heart of Cinco Ranch, this luxury development has its  own “residents only” Clubhouse.

The Clubhouse offers a wonderful center in which to entertain when residents don’t want to entertain at home. It features a  great room, game/card room, kitchen, outdoor kitchen with  living space and a full exercise room. There is also a gorgeous fire pit. It’s a grand gathering place in which to hold club functions. A part-time activities hostess is coming soon.

David Weekley Homes has especially designed new home plans with this section in mind. The David Weekley Homes incorporate an open, (no wasted space concept), which includes living space both inside and outside. There is an understated sense of luxury!

Plans range from 2255 square feet up to 3200 square feet. All can be personalized to fit the Read the rest of this entry »

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Cinco Ranch’s Heritage Grand Offers Residents a Grand Lifestyle

 
Heritage Grand in Cinco Ranch is a grand lifestyle for active adults over 55-years old! Part of the master-planned community Cinco Ranch, this gated community is in an ideal location, just west of Houston in Katy. Heritage Grand offers spacious Luxury Homes so residents can spend time enjoying their new life.
 
Heritage Grand active adult community sets the standard for lifestyle, fulfillment and value. This unique resort-at-home community provides a private world where friendships flourish.
 
Today, there are five patio homes on the market ranging in price from $200,000 to $372,300. There are eight homes that are sale pending! This is indicative of the bustling market in Heritage Grand. If you are shopping for a home in Heritage Grand, call me so we can get started looking right away! Read the rest of this entry »

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Westpark Tollway/FM 1093 Expansion to Begin in November 2013

 

Construction on expanding FM 1093 and the Westpark Tollway is scheduled to begin in November once the design and environmental clearance processes are completed, according to an update from Fort Bend County.

The project is split into two phases with Phase I stretching more than four miles from FM 1463 to the Grand Parkway, and has a price tag of more than $60 million. An update released on Feb. 21 announced that the survey and property mapping are complete, and the design is pending approval by various entities.

If the process remains on schedule, the design will be finalized in June, construction will start in November and finish in summer 2015.

Phase II runs from James Road to FM 1463, and the schedule is currently under development.

If you would like to discuss touring tour Katy, Cypress or Houston homes or selling your home, contact me at 713-818-2404 or [email protected]  I have sold local real estate for over 23 years. Experience does matter!

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Bridgeland Master-Planned Community Recognized for its Outstanding Quality of Life

 

Bridgeland has been named as a “Quality Planned Development” by the West Houston Association in recognition of its successful efforts to build innovative neighborhoods that set the standard for future area development. 

The Cypress community was one of the first seven projects to receive the designation, which was developed to stem hastily conceived residential and retail development that can occur with the explosive population growth expected in West Houston. 

“These Quality Planned Developments exemplify the type of outstanding development we want to see continue in West Houston,” said Roger Hord, president and CEO of the 33-year-old organization. “These projects each have exacting standards for park space, landscaping, signage, sidewalks, parking and other elements that support superior, sustainable development. This type of development is a valuable asset for the entire region.” 

West Houston is projected to have 2.8 million residents and an employment base of 1 million by Read the rest of this entry »

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Katy’s LaCenterra and Citizens for Animal Protection Host Howl-O-Ween Dog Walk and Expo

 

Grab a leash and bring your precious pooch to LaCenterra this Saturday for a fun-filled morning at the CAP Howl-O-Ween Dog Walk & Expo.

Activities include a one-mile dog walk to help Citizens for Animal Protection raise money for their shelter pets, as well as a canine costume contest and a chance to win great door prizes.

 Visit with veterinarians, pet food distributors and other pet-centric businesses.

 See the Howl-O-Ween Registration Form for complete participation rules and information.

Thanks to the 2012 Platinum & Gold sponsors: Rover Oaks Pet Resort; Kroger; Baccarat; Invisible Fence Brand; Mirage Mobile DJ.com; Natural Pawz; PetTalk.com; Texas Dogs & Cats; Mis Tee V-Us’; Waggin; Tails Pet Ranch.

“Eats & ‘Treats” provided by Mission Burrito, Fish City Grill, Jamba Juice and Starbucks.

If you are interested in buying, selling or leasing Katy real estate, contact me at 713-818-2404 or [email protected]. I have sold real estate for more than 23 years; experience does matter!

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MD Anderson Pink Lighting at Katy’s LaCenterra in Cinco Ranch

Save the date: Friday, October 12th from 7-9 p.m. Location: Heritage Square at LaCenterra.

Join MD Anderson Cancer Center as it teams with LaCenterra to fight breast cancer and raise awareness. The lights in Heritage Square will be turned on to display a pink hue; they will remain that way for one month.

MD Anderson physicians and staff will be on hand during the event to pass out free educational materials. They will also distribute pink glow necklaces to spread the light of breast cancer awarness and hope.

The evening also includes pink powered live entertainment by the Norma Zenteno Band.

To learn about the MD Anderson Regional Care Center in Katy visit, www.MDAnderson.org/Katy.

If you are interested in selling, buying or leasing real estate, contact me at 713-818-2404. I have sold real estate for over 23 years. Experience does count!

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Katy New Construction Update–September 2012

This article is compliments of The Katy Area Economic Development  Council

Cinco Ranch Southwest located at Spring Green Boulevard and FM 1093 is almost nearing completion, with 905 lots developed in 2011, 678 lots projected for 2012, and 5,200 total lots are projected at completion.

Cinco Ranch Northwest projected 429 lots for 2012, and 1,182 total lots are projected at completion in about four years. The firm and the school district have already determined that another school is needed in that community.

Cross Creek Ranch projected 550 lots for 2012 and 6,575 total lots are projected at completion.

Churchhill Farms, a project located west of FM 1463 is under construction with 187 lots projected for 2012, and 570 total lots projected at completion.

Pine Mill Ranch completed 153 lots in 2011; 176 lots are projected in 2012, and 1,212 total Read the rest of this entry »

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Newsweek Magazine Ranks Seven Lakes and Cinco Ranch High Schools in Top Third in Nation

Once again, two Katy Independent School District high schools, Seven Lakes and Cinco Ranch, have garnered the distinguished honor of being ranked in the top third of 1,000 U.S. public high schools by Newseek Magazine.

More than 2,300 schools participated. The top 1,000 schools ranked based on six criteria that emphasized quality of education and effectivenss in turning out college ready graduates. Criteria included graduation and college matriculation rates, average SAT/ACT scores, the number of Advanced Placement courses offered per student and scores on AP tests and other exams.

Seven Lakes ranked #277 on the list and Cinco Ranch was #354.

“Strong schools are one of the major reasons why Cinco Ranch ranked third Read the rest of this entry »

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Katy’s Tortoise, Hare and a Seagull

I love this photo and immediately thought it would be a great analogy for the recovering real estate market. Steadily and most assuredly the Katy real estate market is making great strides.

Katy real estate market

Certain areas of Katy, especially those houses south of I-10, are experiencing a very competitive market. In most sections of Cinco Ranch, it is not a buyers market.

Public perception seems to lag behind the current market movement. Sometimes a buyer has to lose several houses when they make low-ball offers before they enter into competitive negotiations.

To tour Katy homes and work with a Realtor who can assist you in selecting a home, navigate repairs and negotiations, call me at 713-818-2404. I have sold Katy real estate for over 21 years. Experience does count!

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