Museum Park Houston Market Update – November

Norhill Realty December 7, 2010

Below you will find some the most recent data on home sales and prices for the Museum Park section of Houston, Texas.  If you are interested in receiving weekly Houston and Midtown real estate news updates, then sign up for our RSS feed to receive instant updates.

Homes Sold

6 homes sold in Midtown Houston in the month of November, all of them were detached homes.  This is down from last November, which saw 13 total sales.  As with most of the Houston and national real estate markets, some demand for real estate was pushed up, as home buyers took advantage of the home buyer credits that expired in April. Furthermore, last November’s numbers were inflated by the original First-time home buyer credit expiration, which was set to expire at the end of November 2009.

Active Listings

There are 83 properties currently on the market, 48 detached homes and 35 townhomes/condos.  In the past 30 days, 20 of the 86 listings are new listings and 19 of the sellers have reduced their price.

Home Prices

The current median home price in Museum Park is $284,000, down for -2.06% from this time last year.  The overall median price is being dragged down by detached homes.

Intexure development at 1815 Southmore Boulevard

Museum Park Houston is one of Houston’s most culturally rich communities in the city.  Home to 13 Museum, Hermann Park, and Rice University.  This neighborhood offers walk-ability to many of Houston’s most prized treasures. Uniquely situated between Downtown Houston and The Texas Medical Center, two of the largest business districts in the state of Texas.  Both of these districts are connected to Museum Park by Houston’s light rail system. Museum Park has many recently constructed luxury single family homes, townhomes, and high rise condominiums.  The neighborhood is also home to the highest concentration of modern residential development in all of Houston.  Norhill Realty is proud to call this vibrant neighborhood our home.

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