SINCE JANUARY, THE FULSHEAR/KATY REAL ESTATE MARKET HAS witnessed consistent improvement month after month, yet only modestly. Buyers mostly have been “missing in action” though, and both Sellers and Agents have been anxiously searching for them. It’s like a game of hide-and-go-seek, “come out, come out wherever you are”. Yet, in May, the Buyers did just that. Most importantly, the results, on average, were very positive and thus rewarding for me to report.
May Results For Zip Code 77441:


As insight, normally the market first improves at the lower end and then filters upwards. I’m waiting patiently (yea, right!) along with Sellers to witness this phenomenon take place! In the meantime, Buyers should also see the market as a pretty young lady because this a VERY GOOD TIME to capitalize on lower interest rates and lots of great Listings!

May Results by Community.
Weston Lakes:

Fulbrook:


The Award for best improved results for this year goes to Fulbrook on Fulshear Creek! It’s been very tough for Sellers here, so refreshing to see continued positive results the last couple of months. It appears the market here turned the proverbial “corner” with May continuing the upward trend posting positive results in every category. Active inventory remained the same at (26). There were also (8) Listings in Pending Status. Impressively, (11) homes Sold which was more than double that of April. Most importantly, the Resales fared well against the New. That hasn’t happened in a long time. In May, 57% of those in Pending and 45% of those that Sold were Resales. Both great news for Sellers and a warning to Buyers not to wait any longer to find a home here.

The results for May were both rewarding and impressive. In a month where Active inventory would normally rise, it declined from (123) in April, to (116) in May. The decrease was due to the increased in buying activity that resulted in (79) homes ending the month in Pending Status. An increase of 13%. There were also (34) homes that Sold and did so at a remarkable average Sales Price of $451,220. Sellers still have a fierce battle against the New Homes that comprised 53% of the Active homes on the market, 58% of those in Pending and 47% of those that Sold. Yet, if this was a boxing match, this round would be deemed a draw…

Fulshear Run:
Not too much I can think of to say. It’s just another good month for this remarkable Trendmaker neighborhood. Active inventory increased by (1) to a total of (11). That might have been a concern, yet it is not because they broke ground on more New Homes, which is an indication of the confidence of the Builder. There are (3) Resales available though. Since this neighborhood is dominated by the New, we’ll see how well they compete. May also replicated April with (3) homes in Pending Status. Ho hum…just more boring good news!
Summary

Although FM 1093 is under construction (see sketch below), it is hard to visualize the transformation that will occur once completed. In fact, just 1 ½ years ago, it would have been impossible to imagine what is taking place today. Consider this; FM 1093 west of the Grand Parkway was just a 2-lane country road. Really! It wasn’t heavily travelled and was without most of the retail centers that now heavily populate the entire north side. Just imagine what will happen over the next 18-months.
It is the desirability of Fulshear that begets the growth. And, the growth will not be subtle, it will be exponential and that should prove to be very exciting to not only witness, but rather to be able to experience it firsthand. That can only happen though, if you live here. And, there can’t be a better place to call home!


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