Rice Military Market Update – October 2013

Norhill Realty November 22, 2013

Prices were up 16% year over year at the end of October 2013.  However, the rate of price growth has slowed a bit over the past couple of months.  That being said, homes are still selling very quickly. Check out the video and the numbers below for the latest Washington Corridor and Rice Military home prices and sales data.

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Rice Military Market Update – October 2013

Homes Sold

The number of home sales slid a bit from this time last year. There were 76 total sales in the month of October in Washington Corridor. That’s down 22% from October 2012, when there were 98 total sales. That being said, the number of homes that are selling continue to sell quickly. Of the homes sold in October, half were under contract in less than 15 days.  That’s about what we saw last month, but down 57% from October 2012.

MLS#Closed DateAddressBedroomsBathroomsBldg SQFtList Price
8312224510/14/2013814 A Olive322400$529,900
7897308710/1/20133934 FEAGAN432662$510,000
8580389410/25/2013507 N WHITE332350$499,900
8990955410/1/20131830 Dart342907$492,900
9850847910/29/2013326 PATTERSON332070$482,000
2671529210/25/20135605 Maxie332500$464,900
6458325410/11/20134127 Eigel332805$455,900
3244268210/30/20135503 ROSE ST332340$454,000
2769943810/1/20136312 SCHULER ST221950$439,000
9097359410/31/2013716 ASBURY ST322267$435,000
8157984210/21/2013906 PATTERSON332412$433,500
8157984210/21/2013906 PATTERSON332412$433,500
209042610/10/2013710 ROY322412$425,000
5655274310/16/2013818 COHN332422$425,000
1426268410/28/20132415 A LANGSTON332586$419,500
263819610/4/20131810 Dart342340$414,900
8228846110/24/2013631 Jackson Hi332503$399,999

Active Listings

There are currently 264 homes active on the market. That’s up 5 units from the previous month.  However, there were 295 homes available this time last year, which might have had an impact on the number of sales for this month.  With so few options on the market, Buyer’s may not be finding what they are looking for.Washington-Corridor-Ave-Graph-Oct-2013

Home Prices

For the 12 month period ending in October 2013, prices rose to $ 415,820 for Washington Corridor. That’s up 16% from the same period ending in October 2012, which was $357,920.BRC-blog

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.