Houston Heights Market Update – November 2012

Norhill Realty December 6, 2012

Below you will find the most recent data on home sales and prices for the Greater Houston Heights area of Houston, Texas, which includes great neighborhoods such as Houston Heights, Woodland Heights, Norhill Heights, Sunset Heights, Brookesmith, and Shady Acres.  This great neighborhood is the ultimate combination of hip culture and family-oriented, kid-friendly atmosphere.  If you are interested in receiving monthly Houston and Greater Heights real estate news updates, then sign up for our RSS feed to receive instant updates. For more information about Greater Heights and to view past market updates, check out our Greater Heights neighborhood page.  Or email us at [email protected].

Sales Activity

92 homes were sold in Houston Heights in the month of November.  That’s up 8.24% from November 2011.  Over the past several months, the Heights has been one of the strongest markets in the Houston market.  Well placed, well priced homes in this neighborhood have been moving very quickly. In fact, half of all listings sold in November went under contract in less than 26 days.

Active Listings

With 250 listings currently active in the Heights, inventory levels have fallen to less than 2 and a half months of available inventory.  105 new listings came on the market in November, and 37 of those units are already under contract.

Home Prices

Prices continue to climb in the Heights. The average price for single family homes sold over the past 12 months (ending in November 2012) was $366,334.  That’s up 3.77% from the previous 12 month period (ending November 2011).

Based on these numbers, it is apparent that the Houston Heights market is performing very well.  We think much of this is due to the uptick in new residential development, but more importantly the increase of retail development has made the Heights a much more attractive place to live.  If this trend continues and inventory levels remain low, we may continue to see price appreciation over the coming year.  For buyer’s this means, it might be a good time to invest in the area.  For seller’s, it means that it might be a good time to sell and sell relatively quickly for a good price.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 trendiest, 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.

HOUSTON HEIGHTS REAL ESTATE

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