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]
37 homes sold in Montrose Houston in the month of June, 16 detached homes and 21 townhomes/condos. This is up from last year, which only had 27 total sales in the month of June. Two factors have probably had an impact on this increase. First, we’ve seen an increase in sales activity across the Inner loop thanks to a low mortgage rates and a strong Houston economy. Second, Montrose has seen a good amount of redevelopment near Westheimer and Montrose with the additions of El Real, Hay Merchant, and Uchi to the restaurant scene and Dunlavy and Alabama with the construction of the area’s newest HEB.
87 new listings came on the market in June, and there are 126 properties currently on the market, 62 detached homes and 64 townhomes/condos. With just over 4 months of inventory on the market, the market is very favorable to home sellers. With fewer choices (i.e. supply), prices will more than likely begin to increase in the coming months.
Montrose/Neartown home prices continue to perform very well. Average home prices for June were up 4% from the same period last year to $394,654. Detached homes performed particularly well over the past 12 months. With average home prices rising 10% to $463,568 over the past year.
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]