The real estate market in Katy Texas
My primary selling area is Katy Texas therefore I am going to share with you my perspective on what is happening in the market here.
Although we are not immune from the national financial crisis, we have fared well comparatively speaking. As of January 2009, February figures are not out yet, we havd a 4 month supply of homes on the market. Which means, it would take 4 months for the acitve listings to sell at the current rate of sales. By traditional definition, Katy is a seller' s market.
Builders are busy selling off their existing inventory and probably will build only as homes are purchased. . You still have great incentives and reduced prices on new homes and very competitive pricing on resales. The medium price of a homes has increased from $211,500 one year ago to $217,500. although number of days on market has increased.
We are seeing more requests for single home rentals and rentals are moving quickly.
Commerical development slowed but did not stop. Katy has stores, malls within easy driving distances, a variety of restaurants and of course great schools. We also are expanding in the medical field with the addition of hospitals, dialysis centers, senior citizen facilities and improvements in access to major thoroughfares.
It is a good place to be and we still have room, if you are thinking of moving. E-mail us with your questions on living in the area.