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The Chesterfield

Featuring next-door living to Houston’s finest museums and outdoor recreational attractions, The Chesterfield is one of Houston’s New Construction Condo Buildings within the Museum District area.

The Chesterfield Executive Summary

Located in the northern section of the vibrant Museum District, The Chesterfield is a new construction 5-story boutique midrise with 36 condos for sale. The Chesterfield features:

  • NEW CONSTRUCTION MIDRISE: The Chesterfield is one of the newest addition to Museum District’s condo buildings. Sitting at the corner of Blodgett and La Branch streets (1508 Blodgett Street, Houston, TX, 77004 – previous site of The Hampstead), The Chesterfield features 36 units spread across four residential floors built on top of a podium garage. (See Houston’s New Construction Condo Buildings.)
  • COMFORTABLE LIVING SPACES: The Chesterfield offers 1- to 2-bedroom units with living spaces ranging between 775 to 1,350 square feet. Each unit comes with custom interior finishes including high ceilings, solid wood cabinetry, designer lighting, quartz countertops with waterfall style islands and peninsulas.
  • CULTURE AND ART CENTERS: One of Houston’s historic and cultural hubs, Museum District hosts more than 8 million visitors annually. Museum District is home to 19 renowned institutions promoting culture, arts and science located within a 1.5-mile radius of the Mecom Fountain, just a mile away from The Chesterfield. Popular destinations includes the Museum of Fine Arts, the Children’s Museum, and the Houston Museum of Natural Science. Montrose’s Rothko Chapel and Menil Collection are also few minutes away from The Chesterfield.
  • NEAR EMPLOYMENT CENTERS: Texas Medical Center and Downtown, two of Bayou City’s main employment hubs, are both less than 3 miles away from The Chesterfield. Home to more than 3,000 businesses with more than 200,000 employees, Downtown is Houston’s Central Business District. Downtown houses the headquarters of some multinational companies like Calpine, Shell Oil Company, and Total. With 52 medical and research institutions, Texas Medical Center is the country’s largest medical complex. The Medical Center features renowned hospitals, research and academic institutions, medical schools, pharmacy schools, a dental school and nursing programs.
  • OUTDOOR ATTRACTIONS: The 445-acre Hermann Park, one of the most visited public park in the city, is only a mile away from The Chesterfield. Hermann Park features some of Houston’s popular indoor and outdoor recreational destinations like the Houston Zoo, Miller Outdoor Theatre, Houston Garden Center, and the 18-hole Hermann Park golf course.Hermann Park Golf Course.
  • ACCESSIBILITY: The Chesterfield’s location in northern section of the Museum District provides residents immediate access to major roads. The Chesterfield is situated between South and Southwest Freeways, both just 0.5 mile away from the building. Public Transport is conveniently accessible via the Hermann Park/Rice U Metrorail Station, located 2 miles away.There are also several buses plying routes on Almeda Road, Wheeler Avenue and Main Street, just a few blocks away from The Chesterfield
“Paige Martin and her team are THE condo experts in Houston. Paige has literally written the book (The Definitive Houston Condo Buying Guide) about buying a condo in Houston. They know what buildings to avoid, what floor plans to be wary about, and they have relationships to help with off market inventory and sales. If you’re considering buying or selling a condo (new construction or one of the current buildings) I would highly recommend you talk to them. You won’t find any other Realtor or team who is as knowledgeable as they are about the pro’s and con’s of Houston’s highrise buildings. They are fabulous to work with, are very candid with their advice and will look out for your best interests. I highly recommend the Houston Properties Team.”
  • LOW HOA FEES: To keep association costs low, the developers designed The Chesterfield as a “non-amenitized” boutique midrise. The monthly maintenance fee is expected to be one of the lowest in Houston. (See Houston Condos: HOA Fees & Amenities)

Buying a condo in The Chesterfield can be tricky. It’s a new building so there are limited historical sales trends (like you can find from some of Houston’s top performing luxury condos).

The Museum District Area is also home to numerous condo and loft buildings, each with its own pro’s and con’s. A Chesterfield condo buyer would benefit from a good Realtor’s advise specially on how the building and unit compares to other residential condos in the district.

To get personal advice on buying or selling a Chesterfield condo unit, contact Paige Martin, one of Houston’s best condo Realtors and one of the top ranked Realtors in the United States.

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Houston Condo Resources

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Houston Condo HOA Fees & Amenities

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The Chesterfield Condos for Sale
Don’t see what you like?Get a custom list of the best homes for sale in The Chesterfield

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Best Houston Neighborhoods
For Running and BikingTop 9 neighborhoods if you want to live close to the best hiking & biking.

With more than 52,000 acres of greenspace, Houston sits at the top of the 10 most populous cities in the country in total acreage of parkland. The Trust for Public Land report indicates that Houston has 23.6 acres per 1,000 residents – well above the national average of 13.7 acres per 1,000 residents.

The city of Houston aims to go greener, with several projects geared toward park maintenance, adding more trails, and promoting biking. Bayou Greenways 2020, for example, is an ambitious project that will convert 3,000 acres of greenspace along Houston’s many bayous into linear parks and trails.

Houston Bikeways (and Houston Bike Plan), meanwhile, aims to add active transportation to the list of ways to get around the Bayou City.

While Houston has a number of top neighborhoods with good accessibility, Traffic is still a major headache at times, and the city hopes that these projects can help alleviate the problem.

Whether for recreation, exercise, or transportation, residents can look forward to better hike and bike trails within the next two years.

Here are 9 of the best Houston neighborhoods with great access to hike and bike trails.

“Paige Martin is the best Realtor. She is highly experienced and very knowledgeable. She made our buying experience an enjoyable one, not only for us, but for our daughter, son-in-law and several of our friends. We have bought and sold many houses, and Paige has been the best realtor we have ever worked with. We highly recommend her.”

Jeremy & Lynn Greene

See the Houston Neighborhood Guide in PDF

Get the full 58-page Guide To Houston’s Best Neighborhoods in an easy-to-read Adobe Acrobat format. Save to your desktop or read on your mobile.

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If you’d like to see any specific homes or learn about neighborhoods that are best for you, please contact Paige Martin at Paige@HoustonProperties.com, ranked #1 Individual Agent with Keller Williams in Houston and #9 in the United States.
Paige Martin’s Recent Awards:
– “Top 25 Agents in Houston,” Houston Business Journal
– #1 Keller Williams Agent, Houston
– #9 Keller Williams Agent, US
HOUSTON RUNNING AND BIKING GUIDE

 Neighborhood Nearby Parks Median Sales Price Notes
Downtown Houston Discovery Green, Root Memorial Square Park, Sam Houston Park, Tranquility Park, Sesquicentennial Park, Allen’s Landing, Quebedeaux Park $255,000 Most Accessible
Energy Corridor Terry Hershey Park, George Bush Park (Barker Reservoir), Cullen Park, Bear Creek Pioneers Park (Addicks Reservoir), Nottingham Park, Edith L. Moore Nature Sanctuary, Millie Bush Bark Park $358,100 Top Ranked Schools
Houston Heights Heights Boulevard Park, Milroy Park, Marmion Park, Harvard Park, Donovan Park, White Oak Park Greenway, Stude Park, White Oak Park, Woodland Park, Proctor Park, Montie Beach Park, Halbert Park, Love Park, Lawrence Park $462,000 Top Ranked Schools
Memorial Park area Memorial Park, Buffalo Bayou Park, Weiss Park $1,430,000 Most Expensive
Museum District Hermann Park, Reckling Park, Brays Bayou Greenway, Urban Forest $629,000 Best Appreciation
Medical Center Hermann Park, Reckling Park, Brays Bayou Greenway, Urban Forest, Texas A&M University Park $237,900 METRORail Access
Oak Forest TC Jester Park, Brook Hollow Park, White Oak Bayou Greenway, Watonga Parkway Park, Candlelight Park, Oak Forest Park, American Legion Park  $354,250 Best Appreciation
Rice Military Eleanor Tinsley Park, Buffalo Bayou Park, Johnny Steele Dog Park, Spotts Park, Cleveland Park, Memorial Park, Nellie Keyes Park $444,500 Best Appreciation
Timbergrove   Jaycee Park, West 11th Street Park, Timbergrove Manor Park, White Oak Bayou Greenway, Little Thicket Park, TC Jester Park $437,000 Best Appreciation

DISCLAIMER: These are the median values. The “premier streets” within each neighborhood typically sell at a premium to these prices. It is also very important to be cautious of being on a major thoroughfare (hurts resale), being near a railroad track (hurts resale), or buying from builders that have poor quality reputations (as the quality of construction varies widely in these areas).

If you’re looking to buy or sell a Houston home for sale in any of these neighborhoods, contact Paige Martin, one of the top ranked Realtors in the world to get candid advice on the best homes and areas for you.

Houston Guide: 9 Best Neighborhoods For HIKING AND BIKING
1. Downtown Houston

The vibrant epicenter to the country’s 4th largest city, Downtown Houston features easy access to two main branches of the Bayou Greenways 2020 project (Buffalo Bayou and White Oak Bayou).

The project aims to transform “3,000 underutilized acres of land along the bayous into linear parks and connecting 150 miles of hike-and-bike trails to parks and communities”.

Downtown is located at the heart of Houston’s Inner Loop, and is home to some of the city’s best retail, entertainment, sports, and cultural hotspots. Over 150,000 workers commute to downtown daily, employed by the 3,000+ companies that operate out of the district.

One of Houston’s most accessible districts, downtown offers several options, including the METRORail, the bus system, Houston B-Cycle, and Greenlink.

Just under 3,000 residents call downtown Houston home, and unlike other neighborhoods in the Bayou City, homes in the area are mainly condos and lofts.

  • Trails: Sabine-to-Bagby Promenade, Buffalo Bayou Hike and Bike Trail, White Oak Bayou Greenway, Heights Hike and Bike Trail
  • Parks: Discovery Green, Root Memorial Square Park, Sam Houston Park, Tranquility Park, Sesquicentennial Park, Allen’s Landing, Quebedeaux Park
  • Trail Activities: Walking, Biking, Inline Skating
  • Popular Destinations Nearby: Downtown Aquarium, Theatre District, Minute Maid Park, George R. Brown Convention Center, Toyota Center
View All Downtown Homes For Sale

2. Energy Corridor / Memorial West

Home to headquarters and regional offices of corporate giants in the oil and energy industries, the Energy Corridor offers a mix of work and play.

With over 25 million square feet of office space, the district is a major business and employment hub with over 100,000 employees. Apart from the Energy Corridor’s growing roster of dining, entertainment, and retail options, more than 26,000 acres of urban park areas border the district.

George Bush Park, Bear Creek Pioneers Park, and Terry Hershey Park are among the most popular weekend destinations in the Energy Corridor/Memorial West area.

A section of the Brays Bayou Greenway will also run along the area south of the Energy Corridor.

Several neighborhoods and gated communities add to the area’s appeal with active lifestyle amenities like swimming pools, lakes, and walking trails. Some of Houston’s Best Gated Communities are within the Energy Corridor/Memorial West area, including Lakes of Parkway, Parkway at Eldridge, Parkway Terrace, Royal Oaks Country Club, and Talia Trails.

  • Trails: George Bush Park Hike and Bike Trail, Terry Hershey Park Hike and Bike Trail, Brays Bayou Greenway
  • Parks: Terry Hershey Park, George Bush Park (Barker Reservoir), Cullen Park, Bear Creek Pioneers Park (Addicks Reservoir), Nottingham Park, Edith L. Moore Nature Sanctuary, Millie Bush Bark Park
  • Trail Activities: Biking, Walking
  • Popular Destinations Nearby: American Shooting Center, Lakeside Country Club, Royal Oaks Country Club
View All Energy Corridor Homes For Sale

3. Houston Heights

The Heights is one of Houston’s best neighborhoods in terms of real estate appreciation and accessibility. It is one of the state’s first planned communities, and both old and new homes line the area’s streets.

There are 6 historic districts within the Greater Heights area, each featuring a distinct set of Victorian, Craftsman, and Colonial homes. Many are protected by deed restrictions. Newer townhomes and a few condos have also become quite popular in the area.

Residents of The Heights need not stray far to find dining, retail, and entertainment options. There are over 400 Yelp-rated establishments in the area, alongside several parks, community centers, and hike and bike trails.

The Houston Heights Association (HHA) is one of the most active community organizations in Houston, responsible for maintaining historic sites and parks, planning activities like the Lights in the Heights tours, enforcing deed restrictions, and running the constable program.

  • Trails: Heights Hike and Bike Trail, White Oak Bayou Hike and Bike Trail
  • Parks: Heights Boulevard Park, Milroy Park, Marmion Park, Harvard Park, Donovan Park, White Oak Park Greenway, Stude Park, White Oak Park, Woodland Park, Proctor Park, Montie Beach Park, Halbert Park, Love Park, Lawrence Park
  • Trail Activities: Walking, Biking
  • Popular Destinations Nearby: Stude Park Community Center, 19th Street Shopping District, Love Park Community Center, Milroy Park Community Center, the Historic Heights City Hall & Fire Station, Montie Beach Community Center
View All Houston Heights Homes For Sale

4. Memorial Park

Memorial Park, one of the largest urban parks in the state, spans over 1,400 acres within Houston’s Inner Loop. Several neighborhoods enjoy easy access to the park, including Camp Logan, Crestwood, Glen Cove, Arlington Terrace, and Rice Military.

The park features several trails, from nature trails to more challenging mountain bike trails. The Seymour Lieberman Exer-Trail, a 2.9-mile track made of crushed granite, is a popular destination for joggers and cross trainers.

Future trail developments will connect Memorial Park’s trail network to the Buffalo Bayou Hike and Bike Trail, connecting it east to downtown Houston.

Other popular destinations within Memorial Park include the John Bredemus-designed 18-hole municipal golf course, and the Houston Arboretum. Picnic areas, playgrounds, sports fields, and other facilities are also available within the park.

The Memorial Park area features some of the most expensive neighborhoods in the Inner Loop (Crestwood and Glen Cove). Arlington Terrace, one of Houston’s best gated communities is located just a couple of blocks away from the park.

  • Trails: Seymour Lieberman Exer-Trail, Arboretum Outer Loop, Mountain Bike, Triangle Trail, Purple Trail, several others
  • Parks: Memorial Park, Buffalo Bayou Park, Weiss Park
  • Trail Activities: Walking, Biking, Mountain Biking, Running
  • Popular Destinations Nearby: Memorial Park Golf Course, Houston Arboretum and Nature Center, Memorial Park Tennis Center, Running Trails Center, Picnic Loop, Fitness Center
View All Memorial Park Homes For Sale

5. Museum District

The Museum District, located just north of the Texas Medical Center area, boasts of having the second most number of museums in a contiguous area. Nineteen culture, arts, and scientific institutions and museums call the district home.

More than 8 million visitors flock to the Museum District annually. The Museum of Fine Arts, the Children’s Museum, the Houston Museum of Natural Science, and Hermann Park are command most of this foot traffic.

Located about 3 miles away from downtown, the Museum District is one of the most accessible neighborhoods in Houston. B-Cycle and METRORail access, as well as its location along South and Southwest Freeways, provide residents with fairly easy commutes.

The Museum District features one of the hottest real estate markets in the Inner Loop, both in terms of real estate appreciation and land value appreciation. Real estate in the district include condos within several upscale mid- and high-rise residential buildings, patio homes, townhomes, and single-family homes.

  • Trails: Marvin Taylor Exercise Trail, Brays Bayou Greenway Trail, Rice University Trail
  • Parks: Hermann Park, Reckling Park, Brays Bayou Greenway, Urban Forest
  • Trail Activities: Walking, Biking
  • Popular Destinations Nearby: Japanese Garden, Rose Garden, Miller Outdoor Theatre, Houston Zoo, Reflection Pool, Buddy Carruth Playground, Hermann Park Golf Course, Centennial Gardens, Houston Museum of Natural Science, Children’s Museum of Houston, Museum of Fine Arts
View All Museum District Homes For Sale

6. Medical Center

One of the largest medical complexes in the world, the Texas Medical Center boasts of over 30 member institutions in various medical specialties.

The Medical Center area is also one of Houston’s main employment centers, with over 100,000 workers commuting to the district daily. It is one of Houston’s most accessible neighborhoods, and residents and visitors can take..

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2017 HOUSTON HOUSING MARKET BREAKS RECORDS

Despite Hurricane Harvey and political uncertainty, the Houston real estate market breaks through record territory in 2017.

Get a customized copy of the trend graph above for your neighborhood here.

The full Houston home sales for 2017 are out and numbers show the Houston real estate market setting new records across the board.

Despite the devastating flooding and destruction that followed Hurricane Harvey last summer, single-family home sales for the full year rose 3.5% compared to 2016.

Sales of all property types in 2017 totaled 94,726 units, a 3.5% increase over 2016’s volume, which was 91,530. Total dollar volume for single-family homes sold in 2017 jumped 6.5% to $23 billion.

While the numbers provide a good overview and a rosy outlook for 2018, a deeper look at Houston Real Estate Data By Housing Segments shows that the numbers are anything but “average”.

Despite Harvey, the Houston real estate market recorded a 3.5% increase in total home sales and a 6.5% jump in total dollar volume in 2017.
Houston Real Estate Highlights: December & Full-Year 2017
  • Despite the devastation caused by Hurricane Harvey, 2017 proved to be a record year for Houston home sales with 79,117 single-family homes sold versus 76,450 in 2016, the last record-setting year. That represents an increase of 3.5 percent
  • Total dollar volume for single-family homes in 2017 rose 6.5 percent to $23 billion
  • December single-family home sales climbed 4.1 percent year-over-year with 6,875 units sold
  • Total December property sales increased 3.5 percent to 8,125 units
  • Total dollar volume for December increased 2.8 percent to $2.3 billion
  • At $230,000, the single-family home median price rose 1.7 percent to a December high
  • The single-family home average price declined 0.6 percent to $292,174
  • Single-family homes months of inventory declined slightly to a 3.2-months supply
  • Townhome/condominium sales rose 3.2 percent, with the average price down 5.5 percent to $199,197 and the median price down 9.3 percent to $158,250
  • Leases of single-family homes fell 3.6 percent with average rent up 3.3 percent to $1,745
  • Leases of townhomes/condominiums climbed 7.3 percent with average rent up 2.4 percent to $1,532

“Paige Martin is the best Realtor. She is highly experienced and very knowledgeable. She made our buying experience an enjoyable one, not only for us, but for our daughter, son-in-law and several of our friends. We have bought and sold many houses, and Paige has been the best realtor we have ever worked with. We highly recommend her.”

Jeremy & Lynn Greene

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Paige Martin’s Recent Awards:
– “Top 25 Agents in Houston,” Houston Business Journal
– #1 Keller Williams Agent, Houston
– #10 Keller Williams Agent, US
2017 Recap: Market Resists Mother Nature To Complete Record Year

Despite the devastating assault that Hurricane Harvey waged on the greater Houston area last summer – from which many property owners are still recovering – the Houston real estate market set new records by the time the sun set on 2017. Single-family home sales for the full year rose 3.5 percent compared to 2016, the previous record year. However, as 2018 gets underway, the supply of housing remains constrained. Inventory had begun to reach more balanced levels when Harvey’s widespread flooding sent affected residents scrambling for whatever undamaged rental and sales homes were available to provide safe shelter for themselves and their families. Note: much of the text originates from the Houston Association of Realtors Newsroom.

According to the latest report produced by the Houston Association of Realtors (HAR), sales of all property types in 2017 totaled 94,726 units, a 3.5-percent increase over 2016’s volume, which was 91,530. Total dollar volume for single-family homes sold in 2017 rose 6.5 percent to $23 billion.

.

“No one could ever have imagined 2017 turning out to be a record-setting year for the Houston real estate market, which had weathered the effects of the energy slump only to have Harvey strike such a devastating blow,” said HAR Chair Kenya Burrell-VanWormer with JP Morgan Chase. “We know that many are still working tirelessly to rebuild their lives after Harvey, but overall, this clearly illustrates the incredible resilience of the people and the economy of Houston, Texas. We also know that some neighborhoods are performing better than others, so it’s always advisable to consult a Realtor when thinking about buying or selling a home.”

December single-family home sales rose 4.1 percent to 6,875 versus December 2016. The strongest sales performance took place among homes priced between $250,000 and $500,000. Total property sales for the month climbed 3.5 percent to 8,125.

The single-family home median price (the figure at which half of the homes sold for more and half sold for less) rose 1.7 percent to $230,000. That marks the highest median price ever for a December. The average price declined 0.6 percent to $292,174.

“Paige is simply amazing! Paige is a customer service driven agent that doesn’t let any small details slip past her. She is meticulous with her offers, inspections, and knows how to effectively negotiate the right price for her buyers and sellers”
2017 Annual Market Comparison

As 2017 began, the high end of the Houston real estate market was showing welcomed signs of recovery from the effects of the weakened energy sector, and inventory levels in all housing categories finally began to rise. Strong employment numbers translated to an influx of home buyers and renters to the Houston area from across the country and around the world. However, Harvey’s late August rampage interrupted hiring and forced those whose homes and apartments were damaged or destroyed to seek immediate housing anywhere they could, causing inventory to shrink.

Fortunately, the setbacks resulting from this historic weather catastrophe were much shorter-lived than anticipated. By the end of September – just four weeks after Harvey hit – the “Houston Strong” housing market saw home sales rebound and the greatest rental activity of all time. The positive momentum continued through the final months of 2017.

By the end of December, a record 79,117 single-family homes had sold. That represents an increase of 3.5 percent from the previous record of 76,450 in 2016.

On a year-to-date basis, the average price rose 2.9 percent to $291,340 while the median price increased 3.8 percent to $229,900. Total dollar volume for full-year 2017 jumped 6.5 percent to $23 billion.

The strongest one-month sales volume of 2017 was recorded in June with 8,362 single-family homes sold. By contrast, the lightest one-month sales volume took place in January with 4,104 sales.

Months of inventory began the year at a 3.3-months supply, and while it grew to a 4.3-months supply just before Harvey struck the region, it ended 2017 at a 3.2-months supply. Months of inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity.

CATEGORIES FULL-YEAR 2016 FULL-YEAR 2017 CHANGE
Single-family home sales 76,450 79,117 3.5%
Total property sales 91,530 94,726 3.5%
Total dollar volume $21,645,218,533 $23,049,934,248 6.5%
Single-family average sales price $283,133 $291,340 2.9%
Single-family median sales price $221,500 $229,900 3.8%

* Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.

Related Houston Real Estate Resources

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December Monthly Market Comparison

The Houston housing market registered largely positive measurements in December, with single-family home sales, total property sales, total dollar volume and median pricing all up compared to December 2016.

Month-end pending sales for single-family homes totaled 5,413, an increase of 24.0 percent versus 2016. Total active listings, or the total number of available properties, declined 2.2 percent from December 2016 to 33,432.

Single-family homes inventory shrank from a 3.4-months supply to 3.2 months. For perspective, housing inventory across the U.S. currently stands at a 3.4-months supply, according to the latest report from the National Association of Realtors (NAR).

CATEGORIES DECEMBER 2016 DECEMBER 2017 CHANGE
Total property sales 7,850 8,125 3.5%
Total dollar volume $2,209,007,615 $2,271,587,746 2.8%
Total active listings 34,199 33,432 -2.2%
Single-family home sales 6,606 6,875 4.1%
Single-family average sales price $294,035 $292,174 -0.6%
Single-family median sales price $226,050 $230,000 1.7%
Single-family months inventory* 3.4 3.2 -0.2 mos.
Single-family pending sales** 4,367 5,413 24.0%

* Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.

Single-Family Homes Update

Single-family home sales totaled 6,875, up 4.1 percent from December 2016. The median price rose 1.7 percent to a December high of $230,000. The average price declined a fractional 0.6 percent to $292,174. Days on Market (DOM), or the number of days it took the average home to sell, was unchanged at 62.

Broken out by housing segment, December sales performed as follows:

  • $1 – $99,999: increased 5.7 percent
  • $100,000 – $149,999: decreased 7.3 percent
  • $150,000 – $249,999: increased 4.5 percent
  • $250,000 – $499,999: increased 9.1 percent
  • $500,000 – $749,999: unchanged
  • $750,000 and above: decreased 11.2 percent

HAR also breaks out the sales figures for existing single-family homes. Existing home sales totaled 5,460 in December, up 3.7 percent versus the same month last year. The average sales price rose 2.6 percent to $276,738 while the median sales price increased 1.2 percent to $211,000.

Townhouse/Condominium Update

Townhome and condominium sales increased 3.2 percent in December, with 552 units selling versus 535 a year earlier. The average price fell 5.5 percent to $199,197 and the median price dropped 9.3 percent to $158,250. Inventory went from a 3.4-months supply to 3.3 months.

Lease Property Update

Houston’s lease market had a mixed performance in December. Single-family home leases fell 3.6 percent and townhome/condominium leases rose 7.3 percent. The average rent for single-family homes increased 3.3 percent to $1,745, while the average rent for townhomes/condominiums rose 2.4 percent to $1,532.

The post Houston Real Estate Trends, 2017 Recap: Housing Market Sets Records appeared first on Houston Properties.

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Houston Real Estate Market: 2018 Forecast7 Things To Look Forward To (Or Fear) In 2018

We took a deep dive to the home sales trends of the past two decades to come up with 7 predictions that should shape (for better or worse) the 2018 Houston real estate market.

For a custom home value report to see how your neighborhood is trending or for interesting Houston homes for sale, contact Paige Martin, the #1 Individual Agent with Keller Williams in the State of Texas.

“Paige Martin is the best Realtor. She is highly experienced and very knowledgeable. She made our buying experience an enjoyable one, not only for us, but for our daughter, son-in-law and several of our friends. We have bought and sold many houses, and Paige has been the best realtor we have ever worked with. We highly recommend her.”

Jeremy & Lynn Greene

Get The Houston Real Estate 2018 Forecast in PDF Format

Get a copy of the in-depth Houston Real Estate 2018 Forecast in an easy-to-read Adobe Acrobat format. Save to your desktop or read on your mobile

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1. In 2018, Houston’s real estate market eclipses the 2015 peak.

Even including Hurricane Harvey, incredible political uncertainty, and a week off to celebrate the Astro’s winthe Houston real estate market had its second best year ever in 2017.

In addition, the market came within 3% of the 2015 peak (based on both median sales price & sale price per square foot).

Why is the Houston real estate market growing so much? Job growth!

Source: Greater Houston Partnership, Employment Forecast 2018

The forecast for 2018 includes even stronger job growth thanks to the large pricing gains in the oil & gas sector over the past 6 months.

Source: Greater Houston Partnership, Talking Points Q4 2017

We believe oil & gas prices will remain positive, job growth remains strong and brings with it a record real estate year for Houston, Texas.

2. Tax reform benefits all segments of Houston’s real estate market.

This is one of our more controversial predictions as it relates to the luxury market. The National Association of Realtors (NAR) lobbied quite strongly against the $10,000 property tax cap.

For details, here is one of the best, unbiased, summaries of the tax reform bill we’ve seen.

As it relates to the general Houston real estate market, we believe there are three major factors at play – all of which benefit homeowners.

  • More Money (Good). According to the Congressional Budget Office (CBO), approximately 80% of Americans will see a tax cut. More people with more money will stimulate the economy. A percentage of the beneficiaries will likely put more of this money into the housing market (rentals or purchases). This increases demand.
  • Wealth Effect (Good). The major beneficiaries of the new tax reform were tax paying corporations as their tax rate dropped from 35% to 21%. The Dow raced 25% higher in 2017. For the 54% of Americans who have money in the market, that’s a material increase. In addition, the Dow is up over 300% since the Great Recession. The same thing happened in late 1990’s, 2004-2007 credit growth cycle, or 2010-2014 oil boom: When Houstonian’s have more money, house (and land) prices increase at rates above our long-term averages.
  • Repatriation (Good). US companies are currently parking around $2 – 3 trillion in cash overseas. Over $475 billion is held by companies who have a major presence in the greater Houston area. If these firms bring this money back to the US (which they now have an incentive to do) and invest in growth in the region, it could bring a boom that could rival or exceed 2013.

As it relates to the luxury market (over $500,000) there is another factor at play:

  • Deduction Cap (Bad). The deduction for property income taxes is now capped at $10,000 per year. NAR fought against this hard (and lost). It’s bad for luxury properties because if you’re paying $30,000 in property taxes, you don’t get to deduct the extra $20,000. The “tradeoffs” from the bill’s planners are that overall tax rates go down, and the standard deduction doubles. It’s unknown how or if this will impact the luxury market.

However, we believe this will be offset by two main factors:

  • Taxes are complicated, and they’re not a primary buying decision. In my 15 years of real estate sales (selling over $350M of Houston residential real estate), never have I had a client who has shown me a calculation (or asked for one) about their estimated tax deduction based on estimated property taxes. While people look at their overall property taxes closely, the ability to translate this amount to a “net, end of year difference” when comparing two homes is not something I’ve ever seen.
  • There’s a massive economic incentive for the highest earners in high tax states to buy homes in low tax locations like Houston, Texas. We’re seeing a major uptick in interest from residents from CA, NY, IL and CT in relocating to Houston (or buying a second home here that they claim they live in for 183 days). The math works out (for many people in the top tier tax bracket) where they could buy a “free home in Houston” solely based on changing their tax base.
3. In 2018, at least 5 close-in Houston neighborhoods increase average prices by 10%+

Houston’s long term property appreciation rates have averaged about 2-3%.

Over the last year, five close-in Houston neighborhoods increased in value by more than 10%. We believe at least five neighborhoods will also increase in value by double digit percentages in 2018.

View Houston’s 52 Top Neighborhoods and the 8 with the largest appreciation rates

View the Inner Loop’s Top 14 Neighborhoods in real estate appreciation

4. Land values in prime neighborhoods continue to set pricing records.

We have completed a study of 400,000+ Houston home sales since 2000. The best investments tend to be single family homes with the following characteristics:

  • Located in quality neighborhoods that have good proximity to major job centers;
  • Large lots (the primary value is the land value);
  • Not located on a busy thoroughfare, near a highway or near a railroad;
  • A street location with some kind of premier feature (by a cul-de-sac, on a street with a tree-filled median, etc.);
  • With a home that is livable and can be rented. Typically, new construction homes come with a higher purchase premium and “true fixer uppers” require too much investment.

Over the past 5 years, land values in 15 close in Houston neighborhoods have appreciated by more than 50%. We believe that these trends will continue in 2018. (Contact Paige Martin for our top recommended areas.)

5. Average prices on at least 3 new construction buildings fall below the “original developer price.”

Since the end of 2016, 15 new residential high-rise have launched (or are in the process of launching). Notable buildings include:

The supply of luxury Houston condos has increased by more than 400%.

In nearly all cases, the developer sold on spec (where the client didn’t have the ability to evaluate their views, quality of build out, finishes, where they park, where their guests park, etc.)

As you can imagine, not all developers, views, HOA governance, guest parking, etc. are living up to expectations. (As a note – we really like 3 of the new construction buildings – contact us for details).

In one building’s case, the developer offered US Visas as part of the package. Quite a few buyers cared more about qualifying for the visa than they did about resale trends.

In 5 different cases so far, units have sold under “the developer’s price” – in one case the total sale price was over $650,000 under the original price.

Some of the buildings are wonderful, but several of them have material risk of view loss and other opportunity gaps.

In 2018, as more inventory comes online, we think the winners will separate from the losers. We believe quality buildings with quality staff in quality locations with quality views will do well.

However, we believe that disadvantaged buildings (and disadvantaged units) will take a material haircut. We believe many individuals who bought directly from the developer sales staff with no representation, comparable pricing analysis and/or thorough inspection will take a substantial loss upon selling.

If you’re looking at new construction, luxury condos – contact Paige Martin for a candid conversation about New Construction Luxury Condos In Houston.

6. At least 5 new construction condos projects fail.

As an extension of the risk above, in the last few years 37 different residential high price projects were launched.

We don’t believe all of them (or many of them) are quality purchases, if the owner cares about resale within 3-7 years.

At least 11 of them have been cancelled so far. Examples include: 1400 California, 3615 Montrose, Aurora, Chateau Ten West U, Flats on Fairview, Monroe at Bayou Park, and Museum Flats.

Some of the new projects are located on the same land as these cancelled projects (and they have the same fundamental problems related to pricing, location, value being offered, HOA fees, construction costs, or guest parking).

In 2018, we believe at least 5 of the new construction projects which currently have deposits will fall apart.

If you’re looking at new construction, luxury condos – contact Paige Martin for a candid conversation about New Construction Luxury Condos In Houston.

7. Rental rates fall in most Inner Loop neighborhoods.

During the oil boom, projects adding about 90,000 new, residential apartment units were announced in Houston. They have been coming online over the last several years.

As of mid-2017, Houston had about 662,400 units, with approximately 47,000 of them vacant. Hurricane Harvey filled many of them and boosted rentals in the latter part of 2017.

However, we believe 2018 will bring a decline in rental rates.

Downtown Houston is a great microcosm of the challenge:

  • About 5 years ago, there were approximately 3,000 downtown residential units (mostly in Houston Lofts for Sale)
  • Over the last 3 years, approximately 6,000 new residential lease units have come online.
  • In addition, over the next 18-24 months, an additional 3,000 new residential lease units are planned.

When you more than triple the supply, prices (at least in the near term) typically suffer.

As you see in the following graph – median lease price has been declining consistently. Prices had an uptick in 2017 (over 2016) thanks to Harvey.

In addition, the average Median Lease Price/Sq Ft is misleading because the new construction buildings (since 2015) have been renting at much higher rates. “Existing inventory” has been in a pattern of consistent decline.

We suggest being cautious on purchasing Homes for Rent or Multi Family Homes for sale in Houston and specifically focusing on owning quality land and properties for the long term, while the overbuilding of rental units gets fleshed out of the market over the next few years.

As always, real estate is hyper local, see how your neighborhood is trending now or email us:
We can give you a custom report of how your area and/or property is doing. Disclosures
  • We don’t have a crystal ball. All predictions are our educated guesses. Caveat emptor.
  • #1: Data covers single family, townhome & condo sales in areas 4,9,16,17,22,23,24 (“Close in Houston”)
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The post Houston Real Estate Market: 2018 Forecast | 7 Things to Look Forward To (or Fear) in 2018 appeared first on Houston Properties.

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Lake Forest of Kelliwood TX Real Estate Guide

Located adjacent to George Bush Park, Lake Forest of Kelliwood is one of Houston’s Best Gated Communities.

Made up of around 70 luxury estates and lakeside homes, Lake Forest of Kelliwood is one of Kickerillo Companies’ developments in the Greater Katy area.

Upscale homes on spacious lots are the staple in the community. It is also popular for its:

  • 24/7 SECURITY: Like neighboring Lakes of Buckingham, Lake Forest of Kelliwood is a fully gated community with a 24-hour manned entrance along South Fry Road.
  • LUXURY LAKESIDE HOMES: Developed with luxury and exclusivity in mind, the community features estate-style homes and beautiful lakefront properties on expansive lots.
  • EASY ACCESS TO TRAIL NETWORK: Residents have easy access to George Bush Park’s hike and bike trails, via the entrance along South Fry Road and Highland Knolls.
  • GREAT COMMUNITY AMENITIES: Lake Forest of Kelliwood features a community swimming pool, tennis courts, a sand volleyball court, and a playground.

  • AWARD-WINNING SCHOOLS: Students in the community can attend some of KISD’s award-winning schools, including Taylor High School, a National Blue Ribbon awardee. (See also Best Houston Neighborhoods With Top Houston Schools)
  • LARGE LOTS: Lake Forest of Kelliwood homes tend to sit on large lots, ranging from half-acre (around 20,000 square feet) to over 4 acres (over 170,000 square feet).

Lake Forest of Kelliwood real estate can be tricky to navigate due to low inventories and high property values. Very few Kelliwood homes are put on the market every year (particularly within its gated communities, Lakeforest and Lakes of Buckingham). Consulting with the best Lake Forest of Kelliwood Katy Realtor can greatly benefit homebuyers.

For any inquiries about Lake Forest of Kelliwood homes recommendations, or off-market MLS listings, get in touch with Paige Martin, Owner of HoustonProperties.com and one of the best realtors in Houston.
Paige Martin’s Recent Awards:
– “Top 25 Agents in Houston,” Houston Business Journal
– #1 Keller Williams Agent, Houston
– #9 Keller Williams Agent, US
POPULAR Lake Forest of Kelliwood RESOURCES
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12 Things Lake Forest of Kelliwood Real Estate Buyers Should Know

Featuring some of the most expensive real estate in the Greater Katy area (one of Houston’s best suburbs), Lake Forest of Kelliwood features luxury custom-built homes and lakeside estates.

  • Like neighboring Lakes of Buckingham, Lake Forest of Kelliwood is a fully gated community with a 24-hour manned entrance along South Fry Road.
  • Developed with luxury and exclusivity in mind, the community features estate-style homes and beautiful lakefront properties on expansive lots.
  • Residents have easy access to George Bush Park’s hike and bike trails, via the entrance along South Fry Road and Highland Knolls.
  • Lake Forest of Kelliwood features a community swimming pool, tennis courts, a sand volleyball court, and a playground.
  • Students in the community can attend some of KISD’s award-winning schools, including Taylor High School, a National Blue Ribbon awardee.
  • Lake Forest of Kelliwood homes tend to sit on large lots, ranging from half-acre (around 20,000 square feet) to over 4 acres (over 170,000 square feet).
  • The community is made up of mostly custom-built homes built between the mid-1990s to the late 2000s.
  • Lake Forest and Lakes of Buckingham share a homeowners association.
  • Lake Forest of Kelliwood homes are typically large properties with 3 to 5 bedrooms and 3 to 5 full baths.
  • Home sizes range from 4,700 to more than 8,000 square feet.
  • Private pools, oversized garages, wooded and well-kept grounds, and sweeping driveways are common features.
  • Prices for Lake Forest of Kelliwood homes can start at just under $900,000. The most expensive properties in the community can fetch over $2,000,000.
“Paige Martin is the best realtor in Houston. She will tell you the ‘bad’ and ‘ugly’ of a property and help you make a good purchase.”
“As first time buyers in the US, we are delighted to have worked with Paige. She is a delight to work with, and I would recommend anyone to enlist her help if you’re looking to either buy or sell a property.”
Lake Forest of Kelliwood Maps and Location

Nestled within the Greater Katy area, Lake Forest of Kelliwood is an upscale gated community made up of around 70 luxury estates.

The community’s entrance is located just off South Fry Road, which connects north to Kingsland Boulevard and Interstate 10 and south to Westheimer Parkway and Grand Parkway. Residents also have near direct access to Westgreen Boulevard.

Lake Forest of Kelliwood is about 9 miles southeast of the city of Katy and less than 8 miles from the Energy Corridor.

Thanks to the community’s located directly west of George Bush Park, residents have easy access to miles of multi-use trails (via the entrance along S Fry and Highland Knolls) and various sports facilities.

Residents can also enjoy the community’s amenities, which include a swimming pool, a lake, a sand volleyball court, tennis courts, and a playground.

For retail and dining, Lake Forest of Kelliwood residents can take a short drive to Katy Mills Mall, LaCenterra at Cinco Ranch, and West Oaks Mall.

Lake Forest of Kelliwood Katy real estate are under the 77450 zip code. (View Houston zip code map)

Neighborhoods Near Lake Forest of Kelliwood TX

West of Lake Forest of Kelliwood

North of Lake Forest of Kelliwood

East of Lake Forest of Kelliwood

South of Lake Forest of Kelliwood

  • Kelliwood Courts
  • Ricefield Village
  • Plaza on the Park
  • Freedom Park
  • Kelliwood Park
  • Kelliwood Greens
Lake Forest of Kelliwood Katy Schools
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Telfair TX Real Estate & Neighborhood

Winner of Greater Houston Builders Association’s Community of the Year award, Telfair is highly coveted for its great location, proximity to employment centers, and excellent accessibility. 

Located within one of the Houston’s Best Suburbs, Telfair an multi-award winning development from Newland Communities. Spanning 2,018 acres, the mixed-use master-planned community showcases:

  • ACTIVE LIFESTYLE AMENITIES: Telfair devotes around 300 acres for community amenities like lakes, trails and greenbelts, and neighborhood parks. Three recreation centers with various sports and other outdoor facilities are also available.
  • TELFAIR CENTRAL HALL: The 9,545-square foot Telfair Central Hall is a multi-purpose hub with 3 rooms and a main hall available for events, and a fitness center. The Central complex also features 3 tennis courts, a canoe launch, and a swimming pool.
  • BUSTLING BUSINESS AND EMPLOYMENT CENTERS: Telfair’s 180-acre commercial area along University Boulevard and Highway 59 is home to Texas Instruments, Fluor, Astra Ventures, Group One Automotive, and Empire Commercial Development, among others.
  • PLENTY OF RETAIL AND ENTERTAINMENT NEARBY: Retail and entertainment are available minutes away from Telfair homes. Key retail centers like First Colony Mall, Town Center Square, Sugar Land Town Square, and Riverpark Shopping Center are all within a couple of miles from the community.

  • EXCELLENT ACCESSIBILITY: Telfair is located along and near several main roads, including US 90 Alt, Highway 6, Highway 59 (Southwest Freeway), and Grand Parkway. University Boulevard and New Territory Boulevard runs through the community.
  • CENTRAL LOCATION: The master-planned community is nestled within Sugar Land, one of Forbes‘ Top Suburbs To Live Well in the Houston area. Telfair homes have excellent access to retail, entertainment, and employment centers. Sugar Land Regional Airport is just north of the neighborhood.

Buying or selling real estate in Telfair can be challenging due to a number of factors, including low inventories. The community also has some restrictions in place, so it may put a snag in any exterior modifications or renovations you may want to do in the long run.

For help in navigating this challenging market, contact Paige Martin, one of Houston’s Best Realtors and one of Telfair’s most active real estate agents.

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12 Things Telfair Real Estate Buyers Should Know

Nestled within the city of Sugar Land, Telfair is a 2,018-acre mixed use master-planned community from developer Newland Communities.

  • Telfair devotes around 300 acres for community amenities like lakes, trails and greenbelts, and neighborhood parks. Three rec centers with various sports and other outdoor facilities are also available.
  • The 9,545-square foot Telfair Central Hall is a multi-purpose hub with a 3 rooms and a main hall available for events and a fitness center. The Central complex also features 3 tennis courts, a canoe launch, and a swimming pool.
  • Telfair’s 180-acre commercial area along University Boulevard and Highway 59 is home to Texas Instruments, Fluor, Astra Ventures, Group One Automotive, and Empire Commercial Development, among others.
  • Retail and entertainment are available minutes away from Telfair homes. Key retail centers like First Colony Mall, Town Center Square, Sugar Land Town Square, and Riverpark Shopping Center are all within a couple of miles from the community.
  • Telfair is located along and near several main roads, including US 90 Alt, Highway 6, Highway 59 (Southwest Freeway), and Grand Parkway. University Boulevard and New Territory Boulevard runs through the community.
  • The master-planned community is nestled within Sugar Land, one of Forbes’ Top Suburbs To Live Well in the Houston area. Telfair homes have excellent access to retail, entertainment, and employment centers. Sugar Land Regional Airport is just north of the neighborhood.
  • Breaking ground in 2005 under the helm of Newland Communities, Telfair features homes from reputable builders like Beazer, David Weekley, Highland, Meritage, Newmark, Partners In Building, Perry, Ryland, Trendmaker, and Taylor Morrison.
  • The development has received a number of awards over the years, including three from the Houston Business Journal and one from the Greater Houston Builders Association (Community of the Year).
“Paige Martin is the best realtor in Houston. She will tell you the ‘bad’ and ‘ugly’ of a property and help you make a good purchase.”
“As first time buyers in the US, we are delighted to have worked with Paige. She is a delight to work with, and I would recommend anyone to enlist her help if you’re looking to either buy or sell a property.”
  • Telfair homes are zoned to Fort Bend ISD schools. Cornerstone Elementary School is located within the community. Award-winning Fort Settlement Middle School and Clements High School serve the community.
  • Telfair is made up of around 2,800 single-family homes. Options within the community include patio homes, traditional single-family homes, and lakeside estates.
  • Common features include covered patios, media/game rooms, and well-appointed outdoor spaces. Architectural styles are mostly Traditional and Contemporary/Modern, though some draw inspiration from Mediterranean influences.
  • Prices for Telfair homes for sale start at $350,000. The most expensive homes in the community tend to fetch price tags of over $1,500,000.
Telfair Maps and Location

Located within Sugar Land, Telfair covers 2,018 acres in the area south of US 90 Alternate, east of Highway 6, north of Highway 59 (Southwest Freeway), and west of Grand Parkway and Brazos River.

Telfair is nestled south of Sugar Land Regional Airport. Other master-planned communities New Territory, First Colony, and Greatwood are nearby.

The mixed use master-planned community features residential and commercial sections, as well as around 300 acres of recreational amenities.

Telfair boasts over 70 acres of lakes and park areas, three recreation hubs, swimming pool complexes, tennis courts, trails, fishing piers, and canoe launches.

The Newland Communities development enjoys great accessibility, with almost direct access to key freeways and roads, including University Boulevard, Texas 6, US 90A, Southwest Freeway, and Grand Parkway expansion.

There are a few retail and dining options within the community, though major retail hubs like Sugar Land Town Square, First Colony Mall, and Riverpark Shopping Center are within a couple of miles of the community.

The Houston Museum of Natural Science Sugar Land is also located within the community.

A number of companies also operate out of the Telfair area, including Texas Instruments, Fluor, Astra Ventures, Group One Automotive, and Empire Commercial Development, among others.

Telfair real estate have a 77479 zip code. (View Houston zip code map.)

Paige Martin’s Recent Awards:
– “One of America’s Best Real Estate Agents,” Real Trends
– Five Star Realtor Award, Multi-Year Winner
– “One of Houston’s Top 50 Realtors,” Houston Chronicle
Neighborhoods Near Telfair TX

West of Telfair

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Greatwood TX Real Estate & Neighborhood

Named 3rd in Niche’s Best Suburbs to Live in Texas, Greatwood benefits from its active community association, amenities promoting an active lifestyle, exemplary schools, and excellent location.

Covering a 2,050-acre area south of Highway 59, Greatwood is a master-planned golf course community with more than 4,100 homes spread over 29 neighborhoods.

Developed in 1989, it continues to be one of the most popular neighborhoods in the Sugar Land area due to its:

  • EXEMPLARY SCHOOLS: Dickinson Elementary, Campbell Elementary, Reading Junior High, and George Ranch High School are among our list of Top-Rated Schools in the Greater Houston area.
  • GREATWOOD GOLF CLUB: Greatwood Golf Club showcases a public 18-hole par-72 Carlton Gipson-designed course. Built in the 1990, the course also offers a clubhouse for events and a restaurant.
  • COMMUNITY AMENITIES: Apart from golf club, residents also enjoy access to Greatwood’s 12 community parks, 3 swimming pools, tennis courts, sports fields, 13 playgrounds, and 3 rec centers. Lakes, greenbelts, hike-and-bike trails are also available at Greatwood.

  • EXTRA SECURITY: The HOA contracts a constable service that patrols the neighborhood and maintains a house-watch service.
  • EXCELLENT ACCESSIBILITY: The community’s location along Southwest Freeway (Highway 59) provides easy access to downtown Sugar Land to the northeast as well as Rosenberg to the west. Grand Parkway’s expansion, US Alt 90, and Highway 6 are minutes away from Greatwood.
  • SUGAR LAND LOCATION: Named third in CNN/Money and Money Magazine‘s list of “100 Best Cities to Live in the United States”, Sugar Land is an affluent and growing city in terms of commercial and residential development. (See also Best Houston Suburbs Based on Schools, Amenities, and Livability)

Greatwood real estate can be challenging to navigate due to its older homes (most are well-maintained and have been updated though) and its low inventories. The community is also deed restricted, so it may affect some long-term changes you may have in mind.

For help in navigating this challenging market, contact Paige Martin, one of Houston’s Best Realtors and one of Greatwood’s most active real estate agents.

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Greatwood Texas Homes For Sale
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Would you like to:

  •  Buy
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Property Type:

  •  Single Family
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I am interested in Greatwood and would like to get more details. Get More Details
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Our Recent Awards
Get help from Greatwood’s #1 Rated Realtor
Great Greatwood Home Resources

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12 Things Greatwood Real Estate Buyers Should Know

Located in one of Houston’s best suburbs, Greatwood is a master-planned golf course community with plenty of active lifestyle amenities, great schools, and excellent accessibility.

  • Dickinson Elementary, Campbell Elementary, Reading Junior High, and George Ranch High School are among our list of Top-Rated Schools in the Greater Houston area.
  • Greatwood Golf Club showcases a public 18-hole par-72 Carlton Gipson-designed course. Built in the 1990, the course also offers a clubhouse for events and a restaurant.
  • Apart from golf club, residents also enjoy access to Greatwood’s 12 community parks, 3 swimming pools, tennis courts, sports fields, 13 playgrounds, and 3 rec centers. Lakes, greenbelts, hike-and-bike trails are also available at Greatwood.
  • The community’s location along Southwest Freeway (Highway 59) provides easy access to downtown Sugar Land to the northeast as well as Rosenberg to the west. Grand Parkway’s expansion, US Alt 90, and Highway 6 are minutes away from Greatwood.
  • The HOA contracts a constable service that patrols the neighborhood and maintains a house-watch service.
  • Named third in CNN/Money and Money Magazine’s list of “100 Best Cities to Live in the United States”, Sugar Land is an affluent and growing city in terms of commercial and residential development.
  • Greatwood Community Association, Inc. enforces the master-planned community’s deed restrictions, hires the constable service, and handles the community’s daily operations.
  • Greatwood broke ground in 1989, helmed by American General. Terrabrook later acquired the development which it in turn sold to Newland Communities.
“Paige Martin is the best realtor in Houston. She will tell you the ‘bad’ and ‘ugly’ of a property and help you make a good purchase.”
“As first time buyers in the US, we are delighted to have worked with Paige. She is a delight to work with, and I would recommend anyone to enlist her help if you’re looking to either buy or sell a property.”
  • The golf course community covers 2,050 acres and features 4,100+ homes. Greatwood is made up of 29 neighborhoods.
  • The community features two sections for custom homes. Some townhome units are also available in the area.
  • Greatwood homes typically offer 3- to 5-bedroom floor plans, with living spaces ranging from 1,800 to more than 10,000 square feet.
  • Prices for Greatwood homes for sale range from $250,000 to more than $2,500,000.
Greatwood Maps and Location

One of the master-planned communities in Sugar Land, Greatwood covers a 2,050-acre area south of Highway 59 (Southwest Freeway). It sits about 6 miles southeast of Richmond.

Greatwood is roughly bounded by Highway 59 to the north, Crabb River Road to the west, Brazos River to the east, and Rabbs Bayou to the south.

The community is anchored by a 18-hole privately-operated public golf course called Greatwood Golf Club. The golf course community features over 4,100 homes spread over 29 neighborhoods.

Greatwood offers a wide range of active lifestyle amenities, including 12 parks, 3 swimming pools, 3 clubhouses, tennis courts, sports fields, and 13 playgrounds. Lakes, greenbelts, and hike-and-bike trails are also available within the neighborhood.

For retail and entertainment, residents can take a short drive to Riverpark Shopping Center, located just across the freeway. It features over 40 retail and dining establishments. Commercial establishments lining Highway 59 and Crabb River Road are also highly accessible from the community.

Key roads and freeways are within minutes away from Greatwood homes, including Highway 6, US 90 Alt, and Grand Parkway.

Homes in Greatwood Sugar Land have the 77479 zip code. (View Houston zip code map.)

Greatwood Neighborhoods

Here are just some of the neighborhoods that make up Greatwood:

Paige Martin’s Recent Awards:
– “One of America’s Best Real Estate Agents,” Real Trends
– Five Star Realtor Award, Multi-Year Winner
– “One of Houston’s Top 50 Realtors,” Houston Chronicle
Neighborhoods Near Greatwood TX

West of Greatwood

  • Richmond
  • Crabb
  • Rosenberg
  • Cumings
  • Canyon Gate at the Brazos
  • Lakes of William Ranch
  • Riverpark West
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Lakes of Bella Terra TX Real Estate Guide

Voted “Best New Development in Fort Bend County”, Lakes of Bella Terra is a 725-acre master-planned community from award-winning developer Ryco Development.

Lakes of Bella Terra is one of Fort Bend’s newer master-planned communities. Made up of several sections, the community is known for its resort-style amenities, nature trails, and central location.

The community is highly popular for its:

  • GREAT AMENITIES: The community’s master plan features two recreation centers, a dog park, a swimming pool and splash park, several lakes and ponds (for catch and release fishing), pocket parks, a soccer field, tennis courts, and three nature trails.
  • CLOSE TO RETAIL AND DINING: The Shops at Bella Terra, located off Grand Parkway and Bella Terra Parkway, features over 600,000 square feet of retail and dining space. For more options, residents can take a short drive to LaCenterra at Cinco Ranch and Katy Mills Mall.
  • NEAR MAIN ROADS: Grand Parkway, Westpark Tollway/FM 1093, Bellaire Boulevard, and FM 723 are minutes away from the neighborhood. Grand Parkway connects the neighborhood to the city of Katy and the Energy Corridor to the north and Richmond to the south.

  • LAKEFRONT HOMES: The most expensive Lakes of Bella Terra homes sit beside the water and have great views of the community’s lakes. Traditional single-family homes, patio/courtyard homes, and townhomes are also available in the neighborhood.
  • EXCELLENT LOCATION: Nestled at the southwest corner of Grand Parkway and Westpark Tollway/FM 1093, Lakes of Bella Terra homes are minutes away from key business and employment districts including the Energy Corridor, Westchase District, Memorial City, and the Galleria.
  • HIGHLY RATED SCHOOLS: Hubenak Elementary is among the most highly regarded Lamar Consolidated ISD schools. It is among the best schools in the Greater Houston area and is located within Lakes of Bella Terra.

Lakes of Bella Terra real estate can be a bit challenging to navigate due to the number of builders in the area, some of which are far superior than others.

Contact Paige Martin, one of Houston’s Best Realtors and one of Lakes of Bella Terra’s most active real estate agents, if you’re looking to buy or sell a home in Lakes of Bella Terra.

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For any inquiries about Lakes of Bella Terra homes recommendations, or off-market MLS listings, get in touch with Paige Martin, Owner of HoustonProperties.com and one of the best realtors in Houston.
Paige Martin’s Recent Awards:
– “Top 25 Agents in Houston,” Houston Business Journal
– #1 Keller Williams Agent, Houston
– #10 Keller Williams Agent, US
POPULAR RICHMOND RESOURCES
Lakes of Bella Terra Texas Homes For Sale
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Great Lakes of Bella Terra Home Resources

Where To Live For the Best Schools

Finding the best schools in Houston can be a daunting task. The City of Houston has approximately 280 public schools and over 85 private schools. When you include the Best Houston…

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Living in Houston has perks: short commutes, great accessibility, world-class retail, bustling business centers, divine dining, and great culture…

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Best Land Value Appreciation

These neighborhoods have created the most wealth for their owners. We’re starting to see more deals emerge in the Houston real estate market…

12 Things Lakes of Bella Terra Real Estate Buyers Should Know

Located within one of Houston’s best suburbs, Lakes of Bella Terra is a new construction master-planned community at the southwest corner of Grand Parkway and Westpark Tollway.

  • The community’s master plan features two recreation centers, a dog park, a swimming pool and splash park, several lakes and ponds (for catch and release fishing), pocket parks, a soccer field, tennis courts, and three nature trails.
  • The Shops at Bella Terra, located off Grand Parkway and Bella Terra Parkway, features over 600,000 square feet of retail and dining space. For more options, residents can take a short drive to LaCenterra at Cinco Ranch and Katy Mills Mall.
  • Grand Parkway, Westpark Tollway/FM 1093, Bellaire Boulevard, and FM 723 are minutes away from the neighborhood. Grand Parkway connects the neighborhood to the city of Katy and the Energy Corridor to the north and Richmond to the south.
  • The most expensive Lakes of Bella Terra homes sit beside the water and have great views of the community’s lakes. Traditional single-family homes, patio/courtyard homes, and townhomes are also available in the neighborhood.
  • Nestled at the southwest corner of Grand Parkway and Westpark Tollway/FM 1093, Lakes of Bella Terra homes are minutes away from key business and employment districts including the Energy Corridor, Westchase District, Memorial City, and the Galleria.
  • Hubenak Elementary is among the most highly regarded Lamar Consolidated ISD schools. It is among the best schools in the Greater Houston area and is located within Lakes of Bella Terra.
  • Lakes of Bella Terra is made up of over 1,600 homes divided into several sections.
“Paige Martin is the best realtor in Houston. She will tell you the ‘bad’ and ‘ugly’ of a property and help you make a good purchase.”
“As first time buyers in the US, we are delighted to have worked with Paige. She is a delight to work with, and I would recommend anyone to enlist her help if you’re looking to either buy or sell a property.”
  • The master-planned community is within Fort Bend County and Lakes of Bella Terra homes have Richmond addresses.
  • Lakes of Bella Terra homes typically feature 3- to 5-bedroom floor plans spread over 1,600 to more than 7,000 square feet of living space.
  • Lot sizes range from 6,000 to more than 18,000 square feet.
  • Architectural styles in the master-planned community range from traditional and Mediterranean aesthetics with stone and stucco or brick veneer exteriors.
  • Prices for Lakes of Bella Terra homes for sale range from $200,000 to over $1,300,000.
Lakes of Bella Terra Maps And Location

Lakes of Bella Terra covers a 725-acre area south of Westpark Tollway/FM 1093 and west of Grand Parkway. The master-planned community is from Ryco Development, and is made up of more than 1,600 homes divided into several sections.

The community is about 9 miles south of the city of Katy and about 10 miles north of Richmond.

Lakes of Bella Terra’s master plan includes a rec center, three nature trails, lakes and ponds (for catch and release fishing), a dog park, soccer fields, a fitness center, a sand volleyball court, lighted tennis courts, and a junior Olympic swimming pool and water park.

The master-planned community is within Fort Bend County and Lakes of Bella Terra homes have Richmond addresses. Lamar Consolidated ISD serves the neighborhood and has one campus within the community, Hubenak Elementary School.

The Shops at Bella Terra is located just outside the community, along Bella Terra Parkway and Grand Parkway. The retail center offers a number of retail and dining options. More are available minutes away at LaCenterra at Cinco Ranch and Katy Mills Mall.

Lakes of Bella Terra residents have easy access to main thoroughfares including Grand Parkway, Westpark Tollway/FM 1093, Bellaire Boulevard, Katy-Gaston Road, and FM 723.

Key business and employment centers like the Energy Corridor, Westchase, Memorial City, and the Galleria are highly accessible from the community.

Lakes of Bella Terra Richmond real estate are within the 77406 zip code. (View Houston zip code map.)

Paige Martin’s Recent Awards:
– “One of America’s Best Real Estate Agents,” Real Trends
– Five Star Realtor Award, Multi-Year Winner
– “One of Houston’s Top 50 Realtors,” Houston Chronicle
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Pecan Grove TX Real Estate Guide

Popular for its top-notch golf course, parks, and great schools, Pecan Grove is one of Fort Bend’s master-planned communities.

Located just northeast of Richmond, Pecan Grove covers a 1,450-acre area and offers more than 2,000 single-family homes.

The golf course community is popular for its:

  • GREAT SCHOOLS: Pecan Grove homes are zoned to Austin Elementary, Frost Elementary, and Bowie Middle schools, listed among the best schools in the Greater Houston area. Both Fort Bend ISD and Lamar Consolidated ISD schools serve the community.
  • COUNTRY CLUB: Located along Plantation Drive and Mason Road, Pecan Grove Plantation Country Club is home to a 27-hole Carlton Gipson-designed championship golf course, a restaurant, practice facilities, a fitness center, a swimming pool, and tennis courts.
  • PARKS: Residents can also enjoy the community’s parks: Pecan Grove Park and Plantation Memorial Park. Pecan Grove Park features sports facilities (baseball, football, soccer, sand volleyball, and disc golf), playgrounds, a picnic pavilion, and picnic tables.

  • ACTIVE POA: Pecan Grove Property Owners Association handles the community’s day-to-day operations, including common area maintenance, enforcing the community’s deed restrictions, and organizing events.
  • GREAT ACCESSIBILITY: The community sits just east of Mason Road/FM 359, which connects north to Grand Parkway and south to US 90 Alt. Harlem Road and West Airport Boulevard are also minutes away from Pecan Grove homes.

Pecan Grove real estate can be challenging to navigate due to the community’s older properties, some of which may need to be updated.

Contact Paige Martin, one of Houston’s Best Realtors and one of Pecan Grove’s most active real estate agents, if you’re looking to buy or sell a home in Pecan Grove.

Get PDF Now
For any inquiries about Pecan Grove homes recommendations, or off-market MLS listings, get in touch with Paige Martin, Owner of HoustonProperties.com and one of the best realtors in Houston.
Paige Martin’s Recent Awards:
– “Top 25 Agents in Houston,” Houston Business Journal
– #1 Keller Williams Agent, Houston
– #10 Keller Williams Agent, US
Pecan Grove Texas Homes For Sale
Don’t see what you like?Get a custom list of the best homes for sale in Pecan Grove

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Our Recent Awards
Get help from Pecan Grove’s #1 Rated Realtor
Great Pecan Grove Home Resources

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Finding the best schools in Houston can be a daunting task. The City of Houston has approximately 280 public schools and over 85 private schools. When you include the Best Houston…

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Looking to buy a home? Read this 14 step home buying guide so you don’t miss anything!…

Best Land Value Appreciation

These neighborhoods have created the most wealth for their owners. We’re starting to see more deals emerge in the Houston real estate market…

12 Things Pecan Grove Real Estate Buyers Should Know

Covering a 1,450-acre area northeast of Richmond, Pecan Grove is popular for its great schools, excellent accessibility, and beautiful homes.

  • Pecan Grove homes are zoned to Austin Elementary, Frost Elementary, and Bowie Middle schools, listed among the best schools in the Greater Houston area. Both Fort Bend ISD and Lamar Consolidated ISD schools serve the community.
  • Located along Plantation Drive and Mason Road, Pecan Grove Plantation Country Club is home to a 27-hole Carlton Gipson-designed championship golf course, a restaurant, practice facilities, a fitness center, a swimming pool, and tennis courts.
  • Residents can also enjoy the community’s parks: Pecan Grove Park and Plantation Memorial Park. Pecan Grove Park features sports facilities (baseball, football, soccer, sand volleyball, and disc golf), playgrounds, a picnic pavilion, and picnic tables.
  • Pecan Grove Property Owners Association handles the community’s day-to-day operations, including common area maintenance, enforcing the community’s deed restrictions, and organizing events.
  • The community sits just east of Mason Road/FM 359, which connects north to Grand Parkway and south to US 90 Alt. Harlem Road and West Airport Boulevard are also minutes away from Pecan Grove homes.
  • Pecan Grove is within the extraterritorial jurisdiction (ETJ) of Richmond and is within Fort Bend County, one of the wealthiest and fastest growing counties in the country.
  • The development broke ground in 1978, and now features over 2,000 homes spread over a 1,450-acre area.
  • Pecan Grove homes typically feature 3- to 4-bedroom options, with living spaces ranging from 2,000 to just over 4,200 square feet.
“Paige Martin is the best realtor in Houston. She will tell you the ‘bad’ and ‘ugly’ of a property and help you make a good purchase.”
“As first time buyers in the US, we are delighted to have worked with Paige. She is a delight to work with, and I would recommend anyone to enlist her help if you’re looking to either buy or sell a property.”
  • The most expensive Pecan Grove real estate can offer up to 6 bedrooms with 5 baths spread over 5,000 to 7,000 square feet.
  • Architectural styles in the area lean toward traditional and ranch aesthetics. One- and two-story homes are available in the community.
  • Lot sizes range from 6,500 to more than 14,000 square feet.
  • Prices for Pecan Grove homes for sale can range from $200,000 to more than $600,000.
Pecan Grove Maps And Location

Pecan Grove is a master-planned community located about 4 miles northeast of Richmond. The community covers a 1,450-acre area, though the Pecan Grove area, which includes several other nearby communities spans around 8.8 square miles.

Pecan Grove is within the extraterritorial jurisdiction (ETJ) of Richmond and is within Fort Bend County, one of the wealthiest and fastest growing counties in the country. Richmond is Fort Bend’s county seat.

The master-planned community features over 2,000 single-family homes, a country club, playgrounds and parks, as well as a levee that winds around the neighborhood’s boundaries.

Breaking ground in 1979, Pecan Grove is one of the more established planned communities in the area. Mature trees and older homes line the community’s streets.

Pecan Grove Plantation Country Club, located just off Plantation Drive, features a 27-hole Carlton Gipson-designed championship golf course, a restaurant, a fitness center, a swimming pool, and tennis courts. The community is also home to several parks, including Pecan Grove Park and Plantation Memorial Park.

The community is minutes away from employment, retail, and dining, thanks to its proximity to several main thoroughfares. The community sits just east of Mason Road/FM 359, which connects north to Grand Parkway and south to US 90 Alt. Harlem Road and West Airport Boulevard are also minutes away from Pecan Grove homes.

Pecan Grove Richmond is within the 77406 zip code. (View Houston zip code map.)

Paige Martin’s Recent Awards:
– “One of America’s Best Real Estate Agents,” Real Trends
– Five Star Realtor Award, Multi-Year Winner
– “One of Houston’s Top 50 Realtors,” Houston Chronicle
Neighborhoods Near Pecan Grove TX

West of Pecan Grove

  • Grand River
  • River Forest
  • Grand Reserve
  • Richmond
  • Cumings
  • Tinsley Estates

North of Pecan Grove

  • Harvest Green
  • Waterview Estates
  • Long Meadow Farms
  • Fieldstone
  • Grand Mission
  • Lakes of Bella Terra
  • Lakemont

East of Pecan Grove

  • Aliana
  • Black Hawk and Shadow Hawk Golf Clubs (formerly the Houstonian)
  • Windsor Estates
  • Summerfield
  • Sugar Land
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Hurricane Harvey’s Impact
On Houston Real Estate MarketBest And Worst Houston Neighborhoods Two Months After Harvey

Two months after Hurricane Harvey, see which Houston neighborhoods are most and least affected by the Hurricane.

It’s been two months since Hurricane Harvey ravaged the Houston area (and the Houston Astros are now World Series Champions!!!)

As part of our Houston Hurricane Flooding Series (see the One Month Hurricane Harvey Lookback and the Houston Condos and Neighborhoods That Did Not Flood) we have an updated analysis. Winners and losers have started to emerge.

 

Our Analysis

For each of Houston’s Top 52 Neighborhoods, we analyzed real estate trends for:

  • Sept & Oct 2017 (the two months post-Harvey) compared with both:
    • January – August 2017 (“Early 2017.”)
    • Sept & Oct 2016 (“Prior Period.”)
  • Median home price changes.
  • Average monthly sales volume changes.
  • See the bottom of this article for our full methodology.
Executive Summary

The following are our major findings:

  • The overall Houston market is performing well.
  • Post-Harvey, for all close in Houston neighborhoods, for all property types:
    • Median home prices are up 4% from Sept & Oct 2016 and consistent with Jan-Aug 2017.
    • Sales volumes are down 6% from Sept & Oct 2016 (most of this dip coming in early Sep).
  • Houston Condos are the big winners:
    • Median condo prices rose 8% in Sep & Oct when compared to early 2017, and 22% when compared to Sep & Oct 2016.
    • Condo sales volumes also rose 6% compared to early 2017, and 34% compared to Sep & Oct 2016.
  • The rental market spiked for approximately 30 days after Harvey, but has since returned to early 2017 levels.
  • 11 neighborhoods experienced a major decrease in the number of homes sold, but a major increase in median home prices. Details below along with our hypothesis on why this occurred.
  • The majority of the close in Houston neighborhoods that experienced flooding were in the known flood plains and/or many homes in the area had experienced prior flooding. Caveat emptor.
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Table Of Contents
ENTIRE CLOSE IN HOUSTON REAL ESTATE MARKET*
MEDIAN HOME PRICE SALES VOLUME
Property Type Post Harvey Change (Sept & Oct vs Jan – Aug 2017) Sept & Oct 2017 vs Sept & Oct 2016 Sept & Oct 2017 Median Price Post Harvey Change (Sept & Oct vs Jan-Aug 2017) Sept & Oct 2017 vs Sept & Oct 2016
All Properties 0% 4% $420,000 -14% -6%
Houston Condos 8% 22% $342,000 6% 34%
Houston Townhomes 3% 2% $324,000 -18% -12%
Houston Single Family Homes -3% 0% $460,000 -14% -7%
Notable Updates:
  • Total sales volume for all properties types in Sep & Oct 2017, dropped compared with both the average sales volume for Early 2017 and the Prior Period (as expected).
  • Most of this decline occurred in the first few weeks in September, when both buyers and sellers paused from the market.
  • The noticeable “winners” from Hurricane Harvey were the Houston condos that did not flood. The median condo price and the number of condo transactions jumped – both when comparing to Early 2017 and the Prior Period.
  • In our opinion, based on what we were seeing in the market, we believe this increase in condo sales came from two segments:
    • New buyers moving to Houston who were inundated with images of flooded homes. Many chose to be in a protected building instead of a single family home.
    • People who flooded (or came close to flooding) did not want to take the risk of this happening again, and they chose to live in a condo building away from the bayous / flooded areas.
AREAS THAT BENEFITED, POST HARVEY

A handful of neighborhoods experienced meaningful price and/or sales volume increases since Harvey:

MEDIAN HOME PRICE SALES VOLUME
Neighborhood Post Harvey Change (Sept & Oct vs Jan – Aug 2017) Sept & Oct 2017 vs Sept & Oct 2016 Sept & Oct 2017 Median Price Post Harvey Change (Sept & Oct vs Jan-Aug 2017) Sept & Oct 2017 vs Sept & Oct 2016
Royal Oaks 20% 30% $900,000 22% 7%
Washington East / Sabine 13% 5% $449,000 6% 0%
Champions Area 9% 0% $249,900 9% 1%
Heights / Greater Heights 9% 0% $499,900 -1% 0%
Katy – Old Towne 6% 22% $304,569 0% 11%
Friendswood 4% 19% $284,950 3% 7%
Notable Updates:
  • Based on our outreach to over 250 clients, building managers and HOA community leaders throughout the city for our Houston Neighborhoods That Did Not Flood research project, we also have anecdotal data that most of the subdivisions within these neighborhoods fared very well during the storm.
AREAS WITH FEWER SALES BUT INCREASED PRICES

11 neighborhoods experienced a material drop in sales volumes, but a notable increase in median home sale prices.

MEDIAN HOME PRICE SALES VOLUME
Neighborhood Post Harvey Change (Sept & Oct vs Jan – Aug 2017) Sept & Oct 2017 vs Sept & Oct 2016 Sept & Oct 2017 Median Price Post Harvey Change (Sept & Oct vs Jan-Aug 2017) Sept & Oct 2017 vs Sept & Oct 2016
Downtown* 10% 14% $284,900 -59% -73%
Knollwood / Woodside 3% 7% $479,450 -44% -67%
Highland Village / Midlane 5% 18% $915,000 -17% -58%
Royden / Afton Oaks 17% 37% $959,500 -11% -56%
Cottage Grove 5% 5% $419,950 -34% -49%
Galleria 25% 7% $749,900 -28% -43%
Oak Forest 6% 9% $369,900 -28% -30%
Montrose 4% 5% $675,000 -32% -28%
East Downtown / EaDo* 3% 10% $319,450 -28% -11%
Rice / Museum District* 15% 6% $754,950 -16% -10%
River Oaks 20% 47% $2,392,500 -25% 0%
Notable Updates:
  • This was the most fascinating data to our team. Our speculation for why this occurred is below. Contact me to talk about specific neighborhoods or your home for details.
  • Based on our anecdotal data and what we’re seeing in the market, we believe that most people who experienced flooding did not change regions of the city (e.g. Flood victims in Memorial, on average, did not relocate to the “dry areas” of the Inner Loop. Instead they stayed in the same region with their schools, churches, dry cleaners and friend community.)
  • This implication meant that many of the biggest “winners” were neighborhoods that had partial flooding or were in proximity to flooding. The homes, subdivisions and streets that did not flood experienced material benefits (details & specifics below).
  • Here’s an example of what we saw in the Downtown Houston market:
    • Many of the condo in the northern part of downtown flooded.
    • Several notable buildings were without power for a while and without elevators for more than three weeks. Units in those buildings experienced a huge drop in showings (Do you really want to see a condo if you can’t use the building’s elevator to get there?)
    • However, all of the sales that occurred downtown since Harvey have been isolated to two buildings (both on the Houston condos that did not flood list).
  • In each of the neighborhoods above, we have anecdotal data of both streets and homes that did very well and streets and homes that did not.
AREAS MATERIALLY IMPACTED, POST HARVEY

Several neighborhoods experienced a material change in their real estate market during Sept & Oct 2017 as compared to both Jan – Aug 2017 and Sept & Oct 2016 period. We highlighted ones below that had material reductions to either median home prices or sales volume (or both).

MEDIAN HOME PRICE SALES VOLUME
Neighborhood Post Harvey Change (Sept & Oct vs Jan – Aug 2017) Sept & Oct 2017 vs Sept & Oct 2016 Sept & Oct 2017 Median Price Post Harvey Change (Sept & Oct vs Jan-Aug 2017) Sept & Oct 2017 vs Sept & Oct 2016
Braeswood Place* -27% -39% $535,500 35% 13%
Bellaire -18% -22% $824,000 -1% 35%
Memorial Villages -17% -16% $1,299,500 -8% -3%
Meyerland -14% -17% $364,450 -4% 21%
Briargrove -8% -14% $769,000 7% 57%
Eldridge North -6% -8% $212,450 -5% -9%
Memorial West* -5% 3% $539,700 -16% -16%
Energy Corridor -4% 9% $355,750 -31% -12%
Fall Creek -3% -4% $310,439 -27% -18%
West University -5% 4% $1,225,000 -23% -16%
Briargrove Park / Walnutbend -3% -2% $439,450 -19% 37%
Notable Updates:
  • Within West University, Bellaire, Briargrove Park and Memorial Villages there are subdivisions that experienced the same benefit as the section above (certain streets benefitted – and homes that did not flood appreciated in value). However, the overall stats for the geo market area are presented above to be comparable with the rest of the study.
  • Nearly all areas that experienced the worst decline in median sales prices have:
    • A massive increase in the number of “Lot Value Only” and “Lots” listings & sales as compared with both periods from early 2017 and Sept & Oct 2016.
    • Have material sections of the community that are located in the known and disclosed 100 or 500 year floodplains.
    • A surprisingly large number of properties that have flooded multiple times in the past 5-15 years (e.g. Tax Day Floods, Memorial Day Floods, Tropical Storm Allison). Caveat emptor.

.

Methodology:
  • We analyzed Houston’s Top 52 Neighborhoods from https://www.houstonproperties.com/houston-neighborhoods/salary-needed-to-buy-home
  • All properties compared are just single family homes unless the neighborhood has a *. * neighborhoods include single family homes, townhomes and condos, except for Downtown Houston which only compares condo sales.
  • “Post Harvey” data is referred to as the time period between September 1 – October 31, 2017.
  • “Early / Earlier 2017” data is referred to as the time period between January 1 – August 31, 2017.
  • “Prior Year” data is referred to as the time period between September 1 – October 31, 2016.
  • All data is from the Houston Multiple Listing Service.
  • Close in Houston refers to HAR MLS areas 4,9,16,17,22,23 & 24.
  • To compare average sales volumes we monthalized the data (e.g. took the total sales for Sept & Oct 2017 and divided the number by 2; sales data for Jan – Aug 2017 was divided by 8).

The post Houston Real Estate Report: Harvey’s Impact On Houston’s Top Neighborhoods appeared first on Houston Properties.

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