Rice Military / Washington Corridor Market Update – April 2011

Norhill Realty May 5, 2011

Below you will find the most recent data on home sales and prices for the neighborhoods near the Washington Corridor in Houston, Texas, including Rice Military, Sawyer Heights, Cottage Grove, and Hogan’s Landing. If you are interested in receiving monthly Houston and Washington Corridor news updates, then sign up for our RSS feed to receive instant updates.  Or email us at [email protected].

Homes Sold

69 homes sold in the Washington Corridor in the month of April , 38 detached homes and 31 townhomes/condos.  This is down from last April, which saw 83 total sales. 25 of the properties sold were new construction, down from April 2010, which saw 32 new construction sales.

Active Listings

There are 509 properties currently on the market, 292 detached homes and 217 townhomes/condos.  In April, 117 of the 509 listings are new listings and 93 of the sellers have reduced their price.

Home Prices

Over the past 12 months, the median sales price for detached properties has fallen 3.9% to $296,000 from the same period last year.  However, Townhouses/Condominiums median prices rose 2% to $275,000, and detached homes have actually risen 7.56% to $339,900.Gibson-optimized-for-Blog

The Washington Corridor is the new place to live and play in the city of Houston.  Some of the trendiest bars, bistros, and gastro-pubs make the West End their home.  The residents of this area love the close proximity to Memorial Park, Downtown, and the Galleria.  This area has seen a lot of residential and retail development over the past 10 years and this trend continue.

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