Montrose Houston Market Update – April 2013

Norhill Realty May 8, 2013

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

Homes Sold

Montrose, like most of Houston’s Inner Loop, saw a lot of activity in April.  A total of 44 homes sold in April 2013.  Quick sales are certainly becoming the norm in Montrose and Houston’s near town neighborhoods.  Half of all properties sold were under contract in less than 16 days.

Active Listings

Inventory levels continue to tighten up in Montrose.  Currently, there are only 90 homes on the market.  32 of those listings are new to the market.  Of the 60 new listings that came available in April, 28 are already under contract or sold.  Only 24 sellers chose to lower their price in April.

Home Prices

Lower inventory levels are having significant impact on impact on home prices, especially townhomes.  The average home price for the 12 month period ending in April, 1.96%.  However, the average townhome price during that period rose 4.29% to $344568.  The median home price for all properties rose 5.72% to $380,000.  Certainly, we can deduce that the price to entry in this neighborhood is going up.  We can also assume that prices overall are continuing to rise.Menil-blog

Montrose/Neartown is one of Houston’s most urban neighborhoods.   According to Walkscore.com, this is a walker’s paradise. Some of the great bars and restaurants in Houston are foot steps away from the hip bungalows, townhomes, and mid-rise condominium towers that dot the area.  The area is also home to some great cultural institutions, such as Anderson Fair, the Menil Collection, the Rothco Chapel, and Saint Thomas University. If you would like more information about Montrose/Neartown, give us a call at 713-869-5700 or email us at [email protected]

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