Midtown Houston Market Update – November 2010

Norhill Realty December 1, 2010

Below you will find some the most recent data on home sales and prices for the Midtown section of Houston, Texas.  If you are interested in receiving weekly Houston and Midtown real estate news updates, then sign up for our RSS feed to receive instant updates.

Homes Sold

9 homes sold in Midtown Houston in the month of November, 3 detached homes and 6 townhome/condos.  This is down from last November, which saw 21 total sales.  Midtown tends to be very popular with first time home buyers, so the first time home buyer credit, which expired in April 2010, helped to push up some demand for new home buyers.  Furthermore, last November numbers were inflated by the original First-time home buyer credit expiration, which was set to expire at the end of November 2009.

Active Listings

There are 86 properties currently on the market, 17 detached homes and 69 townhomes/condos.  In the past 30 days, 20 of the 86 listings are new listings and 19 of the sellers have reduced their price.

Home Prices

The current median home price in Midtown is $200,000, down for -14.89% from this time last year.  The overall median price is being dragged down by detached homes.  Median home prices for townhomes/condos are actually up 2.52% to $227,500.

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.

Join The Conversation

This site uses Akismet to reduce spam. Learn how your comment data is processed.