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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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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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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Firethorne’s New Elementary Featured on YouTube

With Katy ISD’s newest elementary school opening Aug. 27 with 722 students, Principal Kelly Ricks knew she wanted to introduce the K-5 grade students to their new school and new teachers in a fun, approachable way.  So, she, along with the teachers and staff and the school’s namesakes, Ray and Jamie Wolman, created a lip dub video to the Katy Perry song, “Firework.”  To date, there are 3,131 views on the YouTube link!  

Wolman is home of The Explorers (school mascot) in red, silver and black.  This is the first school to open within the 1,400-acre Firethorne  master-planned community in Katy/Fulshear.

Ms. Ricks, who is a prized Katy-based educator and administrator, says this assignments marks “a highlight of her career to start a school from the ground up.”  Her talents and achievements in primary school education are recognized statewide by the Texas Education Agency (TEA) as well as nationally with a prestigious National Blue Ribbon nomination this year.

She is immediate past principal of Katy ISD’s Diane Winborn Elementary, a TEA Exemplary School also recognized multiple years by the Texas Business and Education Coalition, Texas Monthly and the Houston Chronicle, and one of 26 schools in the state nominated by the Texas Education Agency for the 2012 National Blue Ribbon Award.  Her former school was one of only 13 Blue Ribbon nominees in Texas to be designated “High Performing” schools in 2012. 

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Katy’s Firethorne Announces New Homebuilder

Firethorne Announces New Builder

M/I Homes is the newest homebuilder to join the builder team at Firethorne, a 1,400-acre master-designed residential community located in Katy/Fulshear.   The builder’s 60-foot lot model home will be constructed in the new Firethorne West Model Park.  Firethorne is situated 10 and 15 miles west of the Texas Medical Center-West Campus and Houston’s Energy Corridor, respectively.

M/I Homes’ one- and two-story homes, available in brick, stone and stucco exterior elevations, will range from 2,000 to 3,400 square feet and priced from the $220,000s. The builder’s signature features include soaring windows, rotundas, structural and designer options and a 30-year transferable structural warranty.

“We hand-select each of our builders based upon their high standards for design, quality, customer satisfaction and reputation,” said Firethorne General Manager Wayne Meyer. Currently completing the Firethorne builder team are: Ashton Woods Homes, Coventry Homes, Highland Homes, Partners in Building, Perry Homes, Plantation Homes and David Weekley Homes.

Firethorne, located in the top-ranked Katy Independent School District and Lamar Consolidated Independent School District, features 150 acres devoted to parks and recreational amenities, a 12-acre lake with surrounding greenbelt, resort-style swim center, new competitive swim center, sports fields, hike/bike trails, parks and playgrounds, discovery-rich wildlife observation area and a natural bird habitat. 

To tour Firethorne, visiting both new construction and resale homes, call me at 713-818-2404. I have sold Katy real estate for over 22 years and would be delighted to hear from you!

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“Churchill Farms” Coming to Katy/Fulshear

beazer homes Katy TX

Beazer Homes, an Atlanta based builder, recently closed on 209 acres on FM 1463 for a development to be called Churchhill Farms. According to The Houston Chronicle,  ”Named after the founder of Fulshear, Churchill Fulshear, Churchill Farms will have 550 lots, more than 40 acres of open space, a 10-acre lake and a community pool and clubhouse.” The first model homes are scheduled to open in January 2012.

The Cardiff family, one of Katy’s oldest families, retained this last tract of the old family homestead. The land was purchased by the Cardiff family in 1924 and recently sold to Beazer.

The Chronicle went on to say, “Homes will range from $150,000 to $250,000, depending on the lot sizes. The smaller lots are targeting single professionals working in the Energy Corridor in west Houston or medical professionals working in the hospitals along I-10. The larger lots will likely house move-ups.”

Beazer has announced that preliminary plans include 16 acres of retail and commercial development.

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

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Fulshear’s Firethorne Breaks its Own Records

firethorne fulshear tx

Firethorne continued its record-breaking ways in 2010, selling 254 new homes, an all-time high for the five-year-old Katy/Fulshear residential development.   This represents a 6.7 percent increase in new home sales over 2009, when the 1,400-acre master-designed community marked its previous record-breaking 238 homes sold.

“The continued growth of the Katy/Fulshear/West Houston economy, the Federal tax credits for first-time homebuyers (offered earlier in the year), our outstanding public schools and ongoing support from the local Realtor ® community have fueled the success we achieved in 2010,” said Firethorne General Manager Wayne Meyer.

Project-to-date, Firethorne has sold 1,132 new homes.   The Firethorne homebuilders are Coventry Homes, Highland Homes, Partners in Building, Perry Homes, Plantation Homes and David Weekley Homes.

In terms of growth, energy companies have relocated employees to the area, Read the rest of this entry »

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18th Annual Katy Triathlon Set for Sunday, Oct 24th

Katy TX Triathlon 2010, Firethorne Katy TX, Fulshear TX

The 18th Annual Katy Triathlon at Firethorne, the third largest co-ed triathlon in Texas, will be held Sunday, October 24, 7:30 a.m. – 11 a.m., in and around the 1,400-acre Firethorne residential community.  The USA Triathlon-sanctioned race, sponsored by the Rotary Club of Katy, encompasses a 16-mile bike race, a three-mile run and a 500-meter swim in Lake Firethorne.

“Firethorne is a great partner on this event and we’re thrilled to be back,” said Rotary Club of Katy Treasurer Vicki Rao.  “We really enjoy the residents — they’re phenomenal people.  Their response was so incredible last year, especially those who live near Race Central (the Visitor Center).”

The 2010 race hopes to draw 1,000 participants — 900+ individual athletes, plus those on relay teams.

The cycling route will include sections of FM 1463 and US Hwy. 90, within the Katy city limits. Read the rest of this entry »

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Fulshear/Katy’s Firethorne Launches Tennis Program

FirethorneTennis Katy TX Real Estate

If you think Firethorne’s tennis coach is just an ace on the tennis court, you couldn’t be more wrong. Resident athlete/sports coach Chris Dante didn’t even take up the sport until he was 30, after excelling in baseball, (in 1988 he made it as far as the Olympic Trials), basketball, (City University of New York team captain), and football, as well as boxing and Taekwondo, (he has a black belt)!

“But after one too many broken noses, I turned to something less brutal — tennis,” said Dante, who helped launch Firethorne’s premiere tennis program this spring. With the new Women’s Tennis League and beginner tennis clinics now in full swing, Firethorne continues to demonstrate the Katy/Fulshear community’s commitment to fitness and competitive sports, through its hike and bike trails, swimming and running, regulation lacrosse fields and personal training at the on-site exercise facility.

During the summer, Coach Dante offers two morning clinics for resident children, (9 and 10 a.m.), and one 6 p.m. clinic for adult beginners. He also teaches private Read the rest of this entry »

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Firethorne Breaks All Previous First-Quarter New Home Sales in 2010

firethorne Katy TexasIn 2010 Firethorne broke all first-quarter new home sales records in its five-year history, highlighted by a 284 percent increase over its first quarter new home sales in 2009.  This figure represents the greatest percentage increase in sales — double that of the next highest sales increase of 140 percent — of any of the top 14 Houston-area master-designed/master-planned communities researched by Metrostudy, the leading provider of primary and secondary market information to the housing and related industries nationwide.

Firethorne, a 1,400-acre master-designed community is located in Katy/Fulshear, 15 miles west of the Energy Corridor.

“We are extremely pleased with the results of our Firethorne sales and marketing teams and appreciate the tremendous support of the local Realtor® community,” said Firethorne Marketing Director Janet Burkett. Realtors® generate 75 percent of all new home sales.

While she suggests the federal tax credits for first-time homebuyers may have planted a seed in people’s minds, she attributes the strong new home sales in the Firethorne community to the continued growth in the Katy and Fulshear areas and for being part of one of the best school Read the rest of this entry »

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