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 j[email protected]  I have sold local real estate for over 23 years. Experience does matter!

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Taste of Texas: Firethorne to Showcase 12 Homes, Four Model Home Parks May 4-10

Firethorne is revving up for its 2013 Taste of Texas Model Home Tour Saturday, May 4 – Friday, May 10, showcasing 12 homes in the master-planned community’s four Model Home Parks, including a model in Firethorne’s first-ever gated section.  The Model Home Tour, free and open to the public from10 a.m. to7 p.m., will feature prize drawings for those who complete the full tour. 

Firethorne will open its dozen fully furnished and landscaped model homes in the four Model Home Parks, including a new brick and stone veneer Perry home in Firethorne’s Model Park III.  The Perry model is a one-story, four-bedroom, three-bath home with a three-car garage. Perry Homes is the exclusive builder in this gated neighborhood composed of 60-foot lots. The two-phase section will house approximately 150 homes upon completion.  

Other members of the Firethorne builder team are Ashton Woods Homes, Coventry Homes, Highland Homes, M/I Homes and Plantation Homes.  

Firethorne’s Model Park I, II and III are east of FM 1463 on Pinpoint Crossing Drive and Iron Read the rest of this entry »

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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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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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Grand Lakes Beauty: Former Trendmaker Model on the Market

Elevation

Family Room View 2

Kitchen view 2

Gorgeous former Trendmaker one-story model with lots of upgrades has gone on the market in Grand Lakes at 6414 Dylan Springs. From the moment you enter, you’ll notice that crown molding and architectural details abound. There’s even a “secret” room for storage!

French doors lead into the study.You’ll find granite countertops in kitchen and master bath. The island kitchen is a cook’s delight with 42″ cabinet, a large pantry and gas cooking. The custom refrigerator has cabinet front; it stays with the house.

The rooms are over-sized rooms to accommodate large furniture. A wall of windows in family room looks out over the fully landscaped backyard. There’s a Rainbird sprinkler system throughout the yard. Custom draperies remain with the house.

You will be delighted with the air-conditioned extra room in garage.  It’s currently being used as an exercise room; it has so many wonderful possibilities!

For a great photo slide show, see HAR.com, MLS # 78724054. For a private tour, call me at 713-818-2404! This home will be held open on Sunday, June 26, 1-4 p.m.

 

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Major National Builder Comes to Cinco Ranch

M_I Homes exterior in Katy's Cinco RanchIt’s been way too long since I posted to my blog. Business has been booming and I have been spending my time with sellers and buyers. I sure hope I haven’t lost any of my regular readers! Today’s post is about a new builder who has entered the Cinco Ranch market.

Katy’s reputation as the nation’s number one “most notable high-growth area” has attracted a major national homebuilder, Columbus, Ohio-based M/I Homes. This top national builder is publicly traded on the New York Stock Exchange (MHO).

M/I Homes now has a model home under construction in Cinco Ranch. It plans to open the model in early April to showcase all-new floor plans and architectural designs created especially for the Houston market after extensive research with local homebuyers. Read the rest of this entry »

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