Montrose-Neartown Market Update – January 2011

Norhill Realty February 8, 2011

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 about Montrose/Neartown or to view past market updates, click here.  Or email us at [email protected]

Homes Sold

26 homes sold in Montrose/Neartown in the month of January, 10 detached homes and 16 townhomes/condos.  This is flat from last January, which also saw 26 total sales.

Active Listings

There are 350 properties currently on the market, 142 detached homes and 208 townhomes/condos.  In January, 48 of the 350 listings are new listings and 33 of the sellers have reduced their price.

Home Prices

In a sign of improvement in the luxury home market, the median sales price in Montrose/Neartown over the past 12 months rose 10% from the same period last year to $340,000.  Both detached homes and townhomes/condominium both did very well.  Median sales prices for detached properties rose an eye popping 18% to $437,000 and townhomes/condominiums rose 10% to $299,950.Montrose-Home-big-optimized-for-Blog1

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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