Listed by Kim Perdomo with the Perdomo Group, 290 Knipp was under contract after just five days.
IS A HEALTHY, balanced real estate market finally here? Per HAR data, the answer is ... kind of? Inventory is at the highest level since 2011, prices are holding steady, and the city and metro area continue to grow in population. Having lost population after Harvey and Covid, the city welcomes significant yet sustainable growth — and a housing market that can handle it.
Modernized older homes on large lots, like this recently sold home at 6266 Cedar Creek, draw buyers.
Family-friendly and boasting a prime location just west of the Galleria, Briargrove is having a moment: The average sales price of a single-family home here during the 12 months ending in July 2024 was $1.23 million — a whopping 20 percent increase over the previous year. Homes are selling faster, too, averaging just 25 days on the market.
Suburban Sprawl
23454 Millbrook Dr. in New Caney is listed for $416K.
With a mix of “affordability, modern amenities and customizable options,” new-construction homes in suburban areas like New Caney, due east of The Woodlands, are in high demand. The Montgomery County community — twice ranked No. 1 by HAR in its quarterly list of Hottest Communities — boasts an average sales price of around $240K, and sold 140 percent more homes during the second quarter of 2024 compared to that of 2023.
Oaks With The Most
Listed for $998K, 1054 Gardenia in Garden Oaks sold in July after just seven days on the market.
Beloved for its Heights-adjacent location and charm, Garden Oaks is movin’ on up ... almost to the million-dollar mark. The average sales price of a single-family home here is more than $925K — and the number of transactions over the past 12 months ending in June increased by around 50 percent compared to the year prior. In neighboring Oak Forest, home prices jumped 20 percent, to an impressive $811K. Meanwhile, in the Heights proper, both sales price and the number of transactions remain relatively flat year-over-year.
Land Down Under?
Brian Spack lists 4934 Dumfries Dr. for $1.3M.
It seems like flood-prone Meyerland has learned a thing or two after all these years — and now it’s the rest of Houston that’s reeling from natural disasters. So while home prices across the city remain relatively flat, those in Meyerland are up 10 percent year-over-year, and houses — like this raised new build complete with a car lift in the garage — are sitting on the market for 25 percent fewer days.
West Side Story
Listed by Kim Perdomo with the Perdomo Group, 290 Knipp was under contract after just five days.
The Memorial area is often thought to primarily consist of the Villages. But go toward and beyond the Beltway and you’ll find scores of tight-knit comunities that make up the Memorial West market area — where home prices are up by 7 percent and days-on-market is down by about the same. It was named HAR’s Hottest Luxury Community of Q1 2024, with transactions up 33.3% year over year.
Explore the real estate report by-the-numbers here or the top real estate trends here.
Maria Moncada Alaoui and Kristen Cannon
