Houston Heights Market Update – January 2014

Norhill Realty February 25, 2014

Thanks for check out our Houston Heights market update. Houston Heights continues to be one of the healthiest real estate sectors in the city of Houston. For the 16th consecutive month, home prices have moved higher.  Homes also continue to sell very quickly. As the new year begins, let’s hope these good times continue well into 2014.  Check out the numbers below for greater detail on the state of the Houston Heights market.

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Houston Heights Market Update

SALES ACTIVITY

There were 79 home sales in the month of January in Houston Heights.  January of last year we only saw 52 closing so this is an improvement.  Although we saw more home sales, those homes did not move as quickly.  Half of all homes sold in January were under contract in 36 days or less. In January 2o13, half of all homes sold in that month were under contract in 21 days or less.

ACTIVE LISTINGS

There are currently 288 homes available on the market. That’s up a little bit from this time last year when we saw 288 homes on the market. 133 new listings came available in Houston Heights in January.  Of those new listings only 67 are still available. The rest are currently under contract.

 

Houston Heights Market update for January 2014
Houston Heights Market update for January 2014

HOME PRICES
For the 17th consecutive month, home prices have risen in the Heights.  The average home price for the 12 month period ending in January 2014 was $413,253.  That’s up 18% from the same period ending in January 2013.  Home prices for detached, single family rose 16% to $429,131, while townhomes rose 20% to an average sales price of $281,005.Tulane2

Due to its affordability, location, and historic charm, Greater Heights is one of the most sought after communities in Houston. Most of the Heights was built in the early part of the 20th century. Although it is basically the center of town, back when it was developed it was known as the 1st suburb in Houston with trolley cars to downtown and ritzy boutiques along 19th street. The neighborhood went through some rough times in the 70s and 80s, but now it is one of the hippest, family-oriented areas of town and the trendy boutiques and restaurants have returned to 19th Street and throughout the area.

The Houston Heights offers a diverse mix of old and new Victorian homes, early century craftsman homes, and newly constructed townhomes and modern developments. Subdivisions include some of the most sought after sections of Houston, including Houston Heights, Woodland Heights, Stude, Brooksmith, Sunset Heights, Shady Acres.

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