Is Katy, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Katy has remained a Seller's Market.
Key Takeaway
Katy is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Katy, TX
How much do homes in Katy, TX cost?
Median Sold Price
$378,802
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Katy have sold for 5.2% more than they did a year ago.
Summary: The median home sold price in Katy was $378,802 in May 2024, up 5.2% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $30K | N/A |
| 2 Bedrooms | $331.9K | $319K | -3.9% |
| 3 Bedrooms | $290K | $298.4K | +2.9% |
| 4 Bedrooms | $411.3K | $426.1K | +3.6% |
| 5+ Bedrooms | $597K | $632K | +5.9% |
Summary: Katy housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.9%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 5.9%.
Median Sold Price Compared To Nearby Cities
| Katy | $359.9K | $378.8K | +5.2% |
| Fulshear-Simonton | $479.2K | $490.1K | +2.3% |
| Houston | $317.1K | $315.2K | -0.6% |
Housing Supply in Katy, TX
How many homes are available in Katy, TX?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,784 | 2,113 | +18.4% |
Summary: The Katy real estate market had 2,113 homes for sale in May 2024, a 18.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 21 | 22 | +4.8% |
| 3 Bedrooms | 551 | 617 | +12.0% |
| 4 Bedrooms | 976 | 1,168 | +19.7% |
| 5+ Bedrooms | 235 | 305 | +29.8% |
Summary: The Katy housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 19.7%, and 5+ bedroom homes increased by 29.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 417 | 469 | +12.5% |
Asking Price vs. Sold Price
264 Homes Were Sold
Under Asking
85 Homes Were Sold
At Asking
120 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Katy, you may be able to get a good deal. 56.3% of homes here sold below asking price last month.
Summary: A total of 469 homes were sold or pending in Katy in May 2024, up by 12.5% month-over-month. Of the 469 sold homes, 56% were sold under asking, 18% were sold at asking, and 26% were sold over asking.
Days on Market for Katy, TX
How long does it take to sell a home in Katy, TX?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 31 Days | 30 Days | -2.7% |
Summary: Homes in Katy had an average of 30 days on market in May 2024, down by 2.7% compared to last year.
Breakdown of Home Sale Times
331 Homes Were Sold
Under 30 Days
98 Homes Were Sold
In 30 - 90 Days
40 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Katy are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 469 homes were sold in Katy; 71% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
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