Rice Military Market Update – April 2013

Norhill Realty May 8, 2013

Below you will find the most recent data on home sales and prices for the neighborhoods near the Washington Avenue 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

Activity in the Washington Corridor / Rice Military area of Houston was up significantly in the month of April.  With 125 total sales in April 2013, activity was up 15% from the same period in 2012. Of those 125 sales, half were under contract in less than 15 days.  In April 2012 half of all properties were under contract in less than 38 days, so the speed of sale has really picked up.

Active Listings

Currently, there are 208 properties active on the market in Washington Corridor, 146 detached homes and 62 town homes.  170 new listings came available in April.  Of which, 84 are already under contract or sold.

Home Prices

Prices in the Washington Corridor have gone up considerably over the past 12 months.  In the 12 month period ending up in April, home prices for all properties were up 5.24% to $385,646.  Detached homes performed slightly better than townhomes. Rising 5.38% to $421,682.  For those looking to sell in Washington Corridor, this is a great time to consider it.  Markets that yield quick sales and big returns do not last forever.BRC-blog

Rice Military 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.

SELLING A HOME IN RICE MILITARY

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