Montrose Houston Market Update – July 2012

Norhill Realty August 6, 2012

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

In the month of July, 34 homes sold in Montrose Houston.  Of the total home sales, 9 were detached homes and 25 were townhomes/condos.  This number is up from July of 2011, which only had 23 total sales.  Historically low interest rates and an improving Houston economy have surely helped move these numbers.

Active Listings

50 new listings came on the market in July, and there are 123 properties currently on the market, 66 detached homes and 57 townhomes/condos.  Inventory levels in Montrose continue to remain low.  With only 4 months of inventory, this is a great market for home sellers and home owners.  Low inventories typically lead to rising prices.

Home Prices

Montrose/Neartown home prices continue to perform very well.  Average home prices for July were up 2% from the same period last year to $391,364.  Detached homes performed particularly well over the past 12 months.  With average home prices rising 7% to $460,730 over the past year.Montrose-Home-big-optimized-for-Blog3

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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