Aaron Layman's Katy Texas Real Estate Forum

Solid April Sales Numbers For Cinco Ranch, Seven Meadows & Grand Lakes, Katy Texas

These master planned communities in South Katy continued to post good sales numbers for April 2008.  Cinco Ranch rebounded from a slow March, while Grand Lakes and Seven Meadows showed modest price gains.  Prices for the three communities averaged approximately $100 per square foot for the month of April.

The market continues to remain more challenging for sellers with ample supply and generous incentives from builders for new construction.  The Cinco Ranch Model park is now open, and Cross Creek Ranch will begin selling in a matter of days.

For more information about real estate and mortgage issues in Katy or West Houston contact Aaron Layman.  He is a licensed real estate broker and mortgage broker.  You can contact him directly at 281-994-5190.  You can also visit him on the web at www.AaronLayman.com.

Cinco Ranch, Seven Meadows, Grand Lakes Post Modest Price Gains in February 2008

Homes Sales in the master planned communities of Cinco Ranch, Seven Meadows and Grand Lakes were down about 11 percent in February from last year.  Prices rose a scant 1 and a half percent.  The modest price gains are reflective of the continued challenging conditions in the overall market.  Overall, South Katy continues to hold up very well compared to other parts of the Houston area.

For more information about real estate and mortgage issues in Katy or West Houston contact Aaron Layman.  He is a licensed real estate broker and mortgage broker.  You can contact him directly at 281-994-5190.  You can also visit him on the web at www.AaronLayman.com.

Homes in Active Adult Community Heritage Grand Cinco Ranch, Katy Texas Show Strong Sales

Homes in the active adult community of Heritage Grand in Cinco Ranch are posting solid sales numbers so far this year.  Unlike some parts of the Houston area market, this 55 and over community is still showing healthy demand.  Sales data points to another good year.  Year-to-date prices are up almost 4 percent compared to 2007 average sales figures.

For more information about real estate and mortgage issues in Katy or West Houston contact Aaron Layman.  He is a licensed real estate broker and mortgage broker.  You can contact him directly at 281-994-5190.  You can also visit him on the web at www.AaronLayman.com.

Cinco Ranch, Seven Meadows, Grand Lakes & Avalon See Price Gains in January 2008

Prices in the master planned communities of Cinco Ranch, Seven Meadows, Grand Lakes and Avalon continued their upward trend in January.  The average price of a home in this area of South Katy was well above the $300,000 mark for January 2008.  Unit sales were off about 18% compared to January 2007, but price per square foot was relatively unchanged.  South Katy as a whole saw a 30 % drop in unit sales in January 2008 but a healthy 5.7% gain in price per square foot compared to year ago January numbers.

For more information about real estate and mortgage issues in Katy or West Houston contact Aaron Layman.  He is a licensed real estate broker and mortgage broker.  You can contact him directly at 281-994-5190.  You can also visit him on the web at www.AaronLayman.com.

South Katy Sees Price Gains, Sales Decline in December

The South Katy real estate market saw a 29% drop in unit sales for December.  On the positive side, prices climbed by 13% compared to year ago December numbers.  The master planned communities of Cinco Ranch, Seven Meadows and Grand Lakes all posted price gains compared to 2006 numbers.   The average sales price for these 3 communities in December was $341,901.  This number includes the gated section of Avalon Seven Meadows.

It was an interesting year in the real estate market, and 2008 promises more of the same.  Sales numbers continue to lag from their 2006 peak levels, but prices continue to head upward.  The Houston area housing market held up very well in 2007 despite the overall negative trend nationwide.  Solid job growth and overall healthy demand should continue to drive the market in 2008.

For more information about real estate and mortgage issues in Katy or West Houston contact Aaron Layman.  He is a licensed real estate broker and mortgage broker.  You can contact him directly at 281-994-5190.  You can also visit him on the web at www.AaronLayman.com.

Home Prices in South Katy Higher In November, Sales Units Decline

The upward trend for home prices in South Katy continued in November, with sales prices climbing over 7 percent compared to last year, adjusted for square footage.  The price increases were a little smaller north of I-10, with the price per square foot rising a little over 4 percent.  The average home price in South Katy was approximately $253,000 for the month of November.  North of I-10 the average price was expectedly lower, coming in at $152,000.

Sales units for November were off significantly from last year with South Katy seeing a 27 percent drop and North Katy posting a 15 percent drop.  The market continues to show signs of softening in the wake of challenging economic and credit conditions, but the overall picture for the Greater Houston Area remains positive.  Market conditions will continue to vary from one neighborhood to another.  Properties inside the loop continue to show healthy demand, as do most of the larger master-planned communities like those in South Katy.

For more information about real estate and mortgage issues in Katy or West Houston contact Aaron Layman.  He is a licensed real estate broker and mortgage broker.  You can contact him directly at 281-994-5190.  You can also visit him on the web at www.AaronLayman.com.

South Katy Home Prices Continue Upward Trend in October

Master planned communities such as Cinco Ranch, Seven Meadows and Grand Lakes continued to post marginal price gains during the month of October.  While the South Katy area saw a decrease in the number of October sales compared 2006, prices have continued their upward trend.  This is welcome news given the softening market conditions in the Houston area.  Many Houston area neighborhoods continue to show stability, but the lower end of the market continues to struggle.  Area builders are offering attractive incentives to close out available inventory by the end of the year, and that will likely make it more challenging for sellers of existing homes.

For more information about real estate and mortgage issues in Katy or West Houston contact Aaron Layman.  He is a licensed real estate broker and mortgage broker.  You can contact him directly at 281-994-5190.  You can also visit him on the web at www.AaronLayman.com.

Houston Area Home Builders Cautiously Optimistic

A recent Metrostudy report noted that building permits for new homes were down 12 percent for the first 8 months of the year in the Houston area.  Most of the slowdown has been in the bottom end of the market.  The report actually showed an increase of 15% in homes priced at $225,000 or more.

Builders are expecting a turnaround sometime in 2008 for the overall market, but they are being cautious with their predictions noting that credit markets and job growth are two of the main wild cards affecting those predictions.

For more information about real estate and mortgage issues in Katy or West Houston contact Aaron Layman.  He is a licensed real estate broker and mortgage broker.  You can contact him directly at 281-994-5190.  You can also visit him on the web at www.AaronLayman.com.

South Katy Real Estate Activity Remains Strong

While many parts of the nation are dealing with slower real estate markets, South Katy continues to buck national trends.  August 2007 home sales for South Katy (Cinco Ranch, Grand Lakes & Seven Meadows) increased by 27 percent over last year, with the average sales price increasing by 4.9 percent to $303,379.  That represents an average of $98.34 per square foot.  While sales numbers were slower during the beginning of the summer, buying activity definitely picked up during July and August.

With fewer first-time home buyers, South Katy has been relatively unaffected by the ongoing liquidity crisis.  The demographics of the area continue to be an asset to the healthy real estate market South Katy is experiencing.  Liquidity problems in the mortgage market may dampen growth rates in the coming months, but the overall outlook for the area remains positive.

For more information about real estate and mortgage issues in Katy or West Houston contact Aaron Layman.  He is a licensed real estate broker and mortgage broker.  You can contact him directly at 281-994-5190.  You can also visit him on the web at www.AaronLayman.com.

Home Prices in Katy Texas

Home prices in South Katy have held up very well during the slowdown this year.  That can be attributed to the availability of inventory.  Home builders have been pro-active in slowing down their construction this year.

The number of sales has declined for almost all types of home in South Katy from the peak levels we saw in the summer of 2006.  Sales of 3/2 and 4/2 homes have led the decline.

Prices have continued to climb.  5 bedroom 4 bath plans saw an increase in the average sale price of 21.3%!  Sales of 3/2 and 4/2 plans saw the smallest price increases.  The decrease in average sale prices for 5/3 plans can be attributed to the shift in builders from 2006 to 2007.  Most of the 5/3 plans sold during 2006 were higher end or custom homes.

This data confirms the strength of demand on the higher end of the market.  As the area continues to develop with more retail and commercial space we should continue to see demand for executive level homes with at least 4 bedrooms and 3 bathrooms.

Looking at the attached chart you will see the large jump in prices for the larger floor plans compared to your average 3 bedroom, 2 bath home or even a 4 bedroom, 2 bath home.  Buyers of larger homes are looking beyond simple utility and are more concerned about extra features and conveniences.  Things like game rooms, media rooms and swimming pools all add to the cost of the home.

You can contact Aaron Layman for more information about real estate in Katy, Texas.  You can call him at 281-994-5190.  You can also visit him on the web at www.AaronLayman.com.

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