Rice Military Market Update – January 2014

Norhill Realty February 19, 2014

The market in the Rice Military has slowed a little bit in the month of January. Prices from month to month are down slightly and homes are taking a little longer to sell than they were taking in the fall. That’s  not unexpected this time of year. Things tend to slow down in the winter months.  Despite this mild slow down, prices rose year over year by 14%. Time will only tell whether this slow down is a seasonal trend or a longer-term trend. See below some additional details regarding the state of the market.

Homes Sold

There were 54 total sales in the month of January in Rice Military. That’s down 7% from January 2013, when there were 58 total sales.  Despite that small drop-off, home sales have continued to sell fairly quickly.  Half of all homes that sold in January were under contract in 24 days or less. In comparison, half of all homes sold in 33 days or less.

MLS#AddressBuilding SFList PriceBedsFull BathHalf BathGarage #Lot SizeYear Built
41865805322 CALLE CADIZ3035855,00033121828
733047165432 Petty2101399,99032122013
196971131420 HOLLY2207335,000331220002013
668681581416 HOLLY2174325,000321215002012
702120941620 Ovid Street2000388,00033122013
657698472110 Colorado Street2087389,00033122013
19363914408 A Eli Street2136349,90033122013
590433434408 B Eli Street2136359,90033122013
478221274408 C Eli Street2136364,90033122013
238635061615 Spring2224425,00033122013
106747481619 Spring2224439,00033122013
379722614412 Eli Street2353424,90033122013
488979794414 Eli Street2353459,90033122013
708394412028 Sabine2070379,000330215192013
9989381248 WESTCOTT2339320,000321215751999
254899141606 Parker2049369,90033122013
464283004318 A O’Reilly3100629,900431225002013
711926486113 TYNE ST1744300,000410156001927
618441041729 EDWARDS ST2374390,000330214872007
678404775415 CROOMS ST2469449,900321050002005
16651846818 REINICKE ST2421420,000331213101999
883244945342 DARLING ST2040300,000331216662003
12026542321 Sandman2368429,000331220692000
420404821415 Colorado2750394,00033122013
454655611810 STATE ST1060225,000310150001910
61201449958 Patterson St2499389,000330215572006
730484344916 MAXIE2578359,900321225001999
388845161315 BIRDSALL ST2218359,000331223882006
251537472728 SHERWIN ST1519279,900320216212006
266886465925 Katy2030359,000321225002013
521802186005 Hamman3459454,900331226422008
7140429519 Gate Stone2970549,000331221242004
986508004109 Eigel2154404,90033122013
412059281611 DETERING ST2250315,000421219752005
947678935612 LARKIN ST962199,900210153501955
692027745443 KANSAS ST2336339,000331218942006
887847595806 B Kansas1846284,90032122008
927361442110 SHEARN ST1332270,000221202008
373096085522 DARLING ST2582349,900331222812007
718540844710 DICKSON ST2394389,000321219502000
197161742209 SANDMAN ST2440339,900331216922008
705779435407 KANSAS ST1986309,900331214852004
779001064207 A Koehler2233309,90032122013
751184083842 CENTER PLAZA DR1138265,000220217442005
42274176511 BIRDSALL ST2352515,000331225002007
426565904111 Eigel2154369,90033122013
601959346526 PICKENS ST2887769,000331226252011
722413434400 EIGEL ST1820295,000220117102004
178854965537 DARLING ST2152329,900331214112005
396633705222 WASHINGTON1626325,000320217202004
416674405736 KANSAS ST2664329,000331219752007
961947695417 Kiam Street2609334,900321226872005
26834118627 Fowler St2476589,90033022013
800511024640 Cornish2085354,90032122013

Active Listings

There are currently 192 homes active on the market. That’s down 13% from January of 2013,  There were 49 new listings that came available in January.  Of those, all of those new listings are still available for sale.Washington-Corridor-Ave-Graph-Jan-2014


Home Prices

For the 12 month period ending in January 2014, prices rose to $423,307 for Washington Corridor. That’s up 14% from the same period ending in January 2013, which was $371,963.BRC.DSC_9280

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