Montrose Houston Market Update – February 2013

Norhill Realty March 11, 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 had another pretty good month.  There were 30 total sales in February.  Half of all properties sold were under contract in less than 30 days.  Like most of the Inner Loop, tightening inventories have resulted in some very short days on market, which is good news for Montrose and Houston home sellers.

Active Listings

There are 105 homes currently on the market in Montrose.  50 of those listings are new to the market.  Of those new listings, ,more than half are already under contract. 14 of the listings currently on the market have lowered their price.

Home Prices

Lower inventory levels continue to help push prices upward.  Home prices rose 3.66% from the end of February 2012 to the end of February 2013.  Detached homes performed particularly well.  Rising 4.82% to $469,524 during that same period.  Inventory levels appear to be pushing prices upward. If things continue, it could be a very good year for the Montrose and Houston markets.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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