Montrose-Neartown Market Update – May 2011

Norhill Realty June 16, 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

56 homes sold in Montrose/Neartown in the month of May, 24 detached homes and 32 townhomes/condos.  This is only slightly down from last May , which saw 57 total sales.

Active Listings

There are 373 properties currently on the market, 147 detached homes and 226 townhomes/condos.  In May 84 new listing came on the market and 106 of the sellers have reduced their price.

Home Prices

Montrose/Neartown home prices continue to perform very well.  Median home prices for May were up 7% from the same period last year to $335,000.  Both detached homes and townhomes/condominium both did very well.  Median sales prices for detached properties rose 2% to $410,000 and townhomes/condominiums rose 8% to $299,900.

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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