Midtown Houston Market Update – April 2011

Norhill Realty May 5, 2011

Below you will find the most recent data on home sales and prices for the Midtown section of Houston, Texas.  If you are interested in receiving monthly Houston and Midtown real estate news updates, then sign up for our RSS feed to receive instant updates. For more information about Midtown and to view past market updates, click here.  Or email use at [email protected].

Homes Sold

23 homes sold in Midtown Houston in the month of April, 2 detached homes and 18 townhomes/condos.  This is down only slightly from last March, which saw 24 total sales.  The First-time home buyer credit has had a negative impact on the year-over-year number for the past 12 months.  As of this monthly report, this impact may be subsiding.

Active Listings

There are 165 properties currently on the market, 36 detached homes and 121 townhomes/condos.  In April, 58 of the 165 listings are new listings and 35 of the sellers have reduced their price.

Home Prices

The median home price in Midtown over the past 12 months is $227,500, down 3%  from the same period last year. Detached homes fell 5%, while townhomes/condos fell 7%.  The expiring First-time home buyer credit may still be having an effect on the prices, even as the number of homes sold recovers.

Midtown Houston is one of Houston’s most walkable communities. Uniquely situated between Downtown Houston and The Texas Medical Center, two of the largest business districts in the state of Texas.  Midtown Houston is home to many recently constructed townhomes and high rise condominium options.  It contains some of Houston’s best known restaurants and bars and it is home to 3 stops along Houston’s only light rail line.  Midtown Houston exemplifies urban living in Houston.

TOP REAL ESTATE AGENTS IN MIDTOWN HOUSTON

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