Hi sweet friend, How are you doing today? The sun is shining in my neck of the woods, and the house is full of what I would call the smell of a birthday dinner, even though it isn't my birthday. My husband is cooking me a childhood favorite, aka a two-hour dinner, and I am filled with love. So I am passing the time, not just glancing and smiling in his direction, but sharing some information on my heart with y'all.
I know many are on the fence trying to decide if right now is a “good time to buy a house” or invest in real estate, so I wanted to share some numbers with you. Since Texas is a non-disclosure state, I cannot share addresses linked to exact sales data with you, unless you are my personal client. Instead, I will change the address names of real houses to illustrate the financial story of ten homes that have sold multiple times between 2023 and 2024.
Historical Sales Data for Ten Homes in Katy, Texas
| Rain Laurel Drive – Firethorne | $223,000 in 2012 (Interest rates 3.35- 3.67%) |
| $272,500 in 2015 (Interest rates 3.85-4.03%) | |
| $502,640 in 2024 (Interest rates in the 6%) | |
| La Windy Lane – Old Towne | $234,900 in 2016 (Interest rates 3.5-3.75%) |
| $405,000 in 2022 (Interest rates in the 5%) | |
| $440,000 in 2024 (Interest rates in the 6%) | |
| Kelly Yellow Street – Kelliwood Greens | $345,000 in 1999 (Interest rates 7.44-8.06%) |
| $370,000 in 2007 (Interest rates 4.9-8.25%) | |
| $387,000 in 2008 (Interest rates high 6%) | |
| $675,000 in 2024 (Interest rates 6%) | |
| Fall Walk Drive – Grand Lakes | $549,000 in 2007 (Interest rates 4.9-8.25%) |
| $668,000 in 2020 (Interest rates 2.68-3.38%) | |
| $1,148,000 in 2024 (Interest rates in the 6%) | |
| Burgess Light Circle – Cinco Ranch | $587,500 in 2013 (Interest rates 3-4%) |
| $650,000 in 2015 (Interest rates 3.85-4.03%) | |
| $728,000 in 2024 (Interest rates 6%) | |
| Granite Cicle – Kelliwood | $465,000 in 2016 (Interest rates 3.5-3.75%) |
| $470,000 in 2017 (Interest rates in the 4%) | |
| $792,000 in 2024 (Interest rates in 6%) | |
| Dawson Lane – Cinco Ranch | $810,000 in 2008 (Interest rates high 6%) |
| $940,900 in 2013 (Interest rates 3-4%) | |
| $1,135,000 in 2014 (Interest rates in the low 4%) | |
| $1,400,000 in 2024 (Interest rates in the 6%) | |
| Fresh Dean Circle – Sundown Glen | $95,000 in 2009 (Interest rates in the 5%) |
| $150,000 in 2010 (Interest rates in the high 4%) | |
| $317,500 in 2024 (Interest rates in the 6%) | |
| Swiss Garden Cove – Governors Place | $147,753 in 1998 (Interest rates 6-7%) |
| $173,000 in 2004 (Interest rates in the high 5%) | |
| $295,000 in 2018 (Interest rates 4-5%) | |
| $400,000 in 2024 (Interest rates in the 6%) | |
| Blue Oak Trail – Cinco Ranch | $216,600 in 2005 (Interest rates 6-7%) |
| $295,000 in 2014 (Interest rates in the low 4%) | |
| $456,000 in 2024 (Interest rates in the 6%) |
History of Interest Rates in the United States
Please remember that if you would like any documents supporting this or similar data, you can reach out to me.
There are 1476 homes for sale right now. In May, June, and July of 2024, 1654 homes sold in Katy. In 2023, 1787 homes sold in Katy. With 2087 homes selling during this time frame in 2022. In 2021, 2348 homes sold during this time frame.
While less homes have been selling in the recent years, the demand is still there. Unfortnately the inventory is low in some of the favorite neighborhoods.
I also want to share some other information on why I still think now is a great time to buy.
Why might right now be the right time to buy a home?
- The summer market has just ended, meaning the sales will start to slow down, allowing more negotiation room for homes that aren't newly listed.
- New construction builders are offering huge incentives and discounts in neighboring neighborhoods and cities like Fulshear and Richmond.
- Most sellers and builders are willing to cover a temporary or permanent interest rate buydown.
- New homes are hitting the market every day, so there are plenty of options.
- Historically, Katy's real estate market has seen high-yield returns.
Is now a good time to buy in Katy?
So, in my professional opinion, right now is a great time to buy, but of course, it depends on your circumstances. I also think new construction is the best buy, but plenty of fantastic opportunities exist.
Thank You!
I hope you have found this blog post super helpful. At Jo & Co., our goal isn't just to be your realtor but your resource. When you are ready, we would be honored to assist you.
Cheers, Jordan Marie & Edward
Who We Are?
A husband and wife real estate team in the Greater Houston Suburbs. We specialize in all things real estate. We love helping families, couples, and individuals relocate, buy, and sell. We have nine years of experience, and what matters to you matters to us. We pride ourselves on being knowledgeable, honest, patient, and reliable.
What's Next?
➪ Schedule a call at https://byjoandco.com/call or email us at [email protected]
• Subscribe to our YouTube Channel: http://byjoandco.com/youtube
• Navigate our Blog: https://byjoandco.com/categories-to-help-you-navigate-the-blog/
• Ready to find your dream home? Search, http://search.byjoandco.com
• Browse our Ebooks and Relocation Guides: http://byjoandco.com/ebooks
Looking for new construction?
All homes on this link are new construction homes that zone to Katy ISD.
Looking to Learn More About Katy, Texas?
Check out these other blog posts:
• Best Neighborhoods in Katy, Texas for Families – Blog Post Link
• Best Master-Planned Communities of Katy, Texas – Blog Post Link
• New map of Katy, Texas featuring the best neighborhoods in Katy – Blog Post Link
• The Neighborhoods of Katy TX – Blog Post Link
• Where you should live if you want to live in Katy in a master-planned community… – Blog Post Link
➪ Still have questions? Schedule a call! I look foward to hearing your story, and helping you! – Link to Schedule a Call
