Houston Heights Market Update – July 2013

Norhill Realty August 28, 2013

Like a well oiled train, the Houston Heights real estate market continues to chug along. The numbers for July 2013 were excellent as home prices rose 11% and the number of homes sold increased 10% from July 2012. With less than 2 and a half months of inventory and new restaurants like Hunky Dory moving into the area, that train should keep truckin’ along through the Fall.  Check out the rest of the numbers below.

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SALES ACTIVITY

There were 126 total sales in the month of July.  That’s up slightly from June and that’s 10% more activity than we saw in July 2012.  Of the homes that sold in July, more than half were sold in less than 13 days.

ACTIVE LISTINGS

There are currently 256 homes available on the market. That’s up slightly from June, when there were only 222 homes available. 120 new listings entered the market in July.  Of those new listings only 58 are still available.  The rest of the homes are either under contract or sold.Houston-Heights-Graph-July-20131

HOME PRICES

For the 12th consecutive month, home prices have risen in the Heights.  The average home price for the 12 month period ending in July 2013 was $383,597.  That’s up 11% from the same period ending in July 2012. Single Family home prices in the area rose 10% to $401,545 while townhomes rose 11% to an average sales price of $250,313.Tulane2 (1)

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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