Houston Heights CMA Feb. 2015

Town Homes & Single Family

    Houston Heights residents, the NEWS is in…..In the videos below, I give a brief explanation of how the market has been doing the past 6 months among SOLD Single Family homes (homes that have no connecting walls to neighbors) and SOLD Town Homes (homes that have 1 or more connecting walls to neighbors) here in the Houston Heights.   I also discuss how the Houston Heights real estate market has been affected by the Oil industry.  

Houston Heights
Single Family Market Analysis
Sept-2014 to Feb-2014

For our Single Family homes, we haven’t seen much change, it has continued to stay steady with no major drops or increases. Due to the oil industry, I feel most investors are investing more conservatively and only as necessary until they see how everything plays out. Prices did start to see an increase around November but then fell back to the norm last month.  

Heights SingleFamily.JPG       



Houston Heights
Market Analysis for Townhomes
Sept-2014 to Feb-2015 

As you see in the graph, surprisingly sales are at a historic low for Heights Town Homes. The average sales price in Sept. was $338K and in January the avg. has dropped to $278K. A whopping $60K difference! For sellers, this news is not considered good, but for Buyers....NOW is your time to act if your looking to purchase a town home in this area. 

    I do expect an increase towards the end of February into March because of tax season. Historically most buyers will start making moves as refunds come in or upon completion of filed returns for loan purposes.  Most townhome builders are also investors in oil or have ties to oil investments (from my experience), and may becoming worried about the market thus selling off their assets to the highest bidder.   This could be a great time for someone looking for a townhome in the Heights area.  I am very interested to see how next month sales come in, I will definitely keep you posted.   

Heights-Townhomes.JPG

     

#houstonrealtor #CMA #TheHeights #MarketAnalysis

My passion is real estate and I will continue doing my homework to benefit my Heights residents. Thank you for your time and I'll be sure to keep you posted if I come across any drastic changes. Have a blessed day guys! =)

IF YOU OR ANYONE YOU KNOW IS IN THE MARKET TO BUY, SELL OR LEASE.....YOUR REFERRALS ARE ALWAYS APPRECIATED! =)

Real Estate Broker

Allen J.

Blogger & Real Estate Broker

832-305-SOLD Direct

Allen@HomesOfHeights.com

GmailBlogger Twitter Instagram FacebookPinterest



January 2015 Houston Heights Sales (Completed Transactions)

Property Type:   SingleFamily       Status:   Sold
Subject
Property
                               
MLS# Closed Date Address Subdiv. BR Bths # Gar Pool Lot SqFt Bldg SqFt Yr List Price Sold Price SP/ SF Adjusted SP Adj. SP/SF DOM SP/LP %
81550183  1/24/2014  1310 NASHUA ST  HEIGHTS ANNEX  1/1  3,700  1,176  1920  $149,900  $145,000  $123.30  $144,600  $122.96  91  0.97 
16677081  1/03/2014  1120 W 21ST ST  QUENSELL LAWN  2/0  3,850  1,619  1940  $169,000  $153,000  $94.50  $153,000  $94.50  66  0.91 
79444752  1/08/2014  514 24TH ST  HOUSTON HEIGHTS  1/0  6,550  1,533  1940  $259,900  $250,000  $163.08  $250,000  $163.08  0.96 
32167841  1/07/2014  831 D W 19TH  West 19th Street Townhomes  3/1  1,991  2013  $279,900  $279,900  $140.58  $279,900  $140.58  1.00 
8291574  1/17/2014  1107 21ST ST, Unit D  Shady Acres  2/1  1,756  1,552  2004  $290,000  $290,000  $186.86  $288,000  $185.57  1.00 
33131874  1/30/2014  1027 ALLSTON ST  HOUSTON HEIGHTS  2/1  6,600  1,451  1920  $299,950  $365,000  $251.55  $365,000  $251.55  1.22 
49345180  1/20/2014  2705 RUTLAND ST Unit I  CONTEMPORARY HEIGHTS  2/1  1,959  1,862  2007  $314,000  $295,000  $158.43  $294,850  $158.35  41  0.94 
13143841  1/29/2014  1413 LAWRENCE ST  HEIGHTS ANNEX  1/0  6,000  961  1910  $315,000  $330,000  $343.39  $330,000  $343.39  90  1.05 
79932681  1/17/2014  238 W 27TH ST  HOUSTON HEIGHTS  1/1  6,550  1,060  1940  $315,000  $300,000  $283.02  $300,000  $283.02  39  0.95 
19121370  1/23/2014  115 E 22ND ST  HOUSTON HEIGHTS  2/0  7,250  1,124  1940  $329,000  $320,000  $284.70  $320,000  $284.70  0.97 
29227793  1/31/2014  1326 W 24th #A  Stars on Shady Acres  2/1  2,184  2005  $329,999  $335,311  $153.53  $327,611  $150.01  16  1.02 
89814340  1/31/2014  1046 W 23RD ST  Heights/Greater Heights  3/0  1,764  2,096  2008  $350,000  $360,000  $171.76  $357,000  $170.32  1.03 
43731940  1/10/2014  1117H W 22ND  MILLENNIUM PATIO HOMES ON TW  2/1  3,988  1,690  2004  $359,000  $353,000  $208.88  $351,500  $207.99  17  0.98 
75416125  1/10/2014  714 B E 20TH  Lamar Heights  3/1  1,752  2,123  2008  $365,000  $345,000  $162.51  $344,600  $162.32  12  0.95 
52461548  1/17/2014  6419 GROVEWOOD  TIMBERGROVE MANOR 6  2/0  8,450  1,391  1955  $365,000  $360,000  $258.81  $360,000  $258.81  0.99 
31597049  1/29/2014  1405 A PRINCE ST  Houston Heights  2/1  2,500  2,634  2009  $365,000  $365,000  $138.57  $365,000  $138.57  15*  1.00 
42823058  1/08/2014  941 24TH ST  SHADY ACRES  1/0  10,890  1,252  1940  $369,900  $375,000  $299.52  $375,000  $299.52  1.01 
79816445  1/23/2014  351 W 26th  Villas at Ashland  3/1  1,625  2,293  2013  $369,900  $369,900  $161.32  $368,400  $160.66  134  1.00 
78176845  1/23/2014  349 W 26th  Villas at Ashland  3/1  1,625  2,293  2013  $369,900  $368,250  $160.60  $368,250  $160.60  107  1.00 
79843698  1/07/2014  1430 A DIAN  Dian Meadows Gardens  2/1  2,325  2,041  2013  $374,900  $360,000  $176.38  $360,000  $176.38  12  0.96 
66914604  1/07/2014  1428A DIAN  Dian Meadows Gardens  2/1  2,325  2,041  2013  $374,900  $374,900  $183.68  $374,900  $183.68  19  1.00 
70441545  1/22/2014  2214 SINGLETON ST  GOSTICK  2/0  5,000  1,223  1926  $374,900  $358,000  $292.72  $356,000  $291.09  59  0.95 
43183704  1/03/2014  1010 West 24th Street Unit P  West 24th Landing  3/1  2,085  2013  $379,990  $378,677  $181.62  $378,677  $181.62  98  1.00 
35930125  1/17/2014  1448 A NASHUA  Houston Heights  2/1  3,323  2,481  2006  $389,000  $402,500  $162.23  $402,500  $162.23  1.03 
39702324  1/03/2014  1524 PRINCE ST  Heights  2/1  2,500  1,934  2006  $389,800  $372,500  $192.61  $372,500  $192.61  13  0.96 
78879544  1/30/2014  817 17TH ST  HOUSTON HEIGHTS  2/0  9,825  2,366  1920  $399,000  $399,000  $168.64  $399,000  $168.64  21*  1.00 
45156717  1/06/2014  6607 GROVEWOOD LN  TIMBERGROVE MANOR 8  2/0  8,616  2,012  1958  $399,900  $400,000  $198.81  $396,000  $196.82  31  1.00 
10933418  1/24/2014  729 W 20th St  Heights  2/1  3,275  2,520  2013  $399,900  $409,900  $162.66  $409,900  $162.66  130  1.03 
55517367  1/15/2014  1817 CORTLANDT ST  HOUSTON HEIGHTS  1/0  6,600  1,204  1920  $400,000  $322,000  $267.44  $322,000  $267.44  17  0.81 
43385949  1/09/2014  1128 RUTLAND  HOUSTON HEIGHTS  2/2  6,600  1,324  1920  $410,000  $385,500  $291.16  $385,500  $291.16  63  0.94 
31788245  1/15/2014  1402 PRINCE ST  Heights Annex  2/1  2,491  2,497  2007  $415,000  $387,000  $154.99  $386,500  $154.79  17  0.93 
41186704  1/30/2014  1515 LAWRENCE STREET  HEIGHTS ANNEX  2/1  2,525  2,286  2007  $424,000  $420,000  $183.73  $420,000  $183.73  33  0.99 
52333458  1/16/2014  1822 WIDDICOMB CT  LAZYBROOK 1  2/0  7,215  1,782  1963  $439,500  $425,410  $238.73  $409,820  $229.98  0.97 
41718404  1/14/2014  926 ALLSTON ST  TEN TWELVE HEIGHTS BLVD PATI  1/1  6,600  1,030  1930  $448,800  $415,000  $402.91  $415,000  $402.91  54  0.92 
86974701  1/30/2014  948 W 22ND  Shady Acres  3/1  1,768  2,841  2006  $449,000  $425,000  $149.60  $425,000  $149.60  46  0.95 
74111168  1/24/2014  246 W 26th St.  Houston Heights  2/1  3,275  2,597  2013  $449,900  $499,548  $192.36  $499,548  $192.36  12  1.11 
62999811  1/14/2014  532 W 17TH ST  HOUSTON HEIGHTS  2/0  6,550  1,956  1901  $459,000  $459,000  $234.66  $450,000  $230.06  75  1.00 
29699474  1/04/2014  1264 NELSON FALLS  COVINGTON PARK  2/2  2,974  2,757  2013  $465,990  $458,866  $166.44  $458,866  $166.44  47  0.98 
18311221  1/09/2014  549 W 26TH ST  Houston Heights  2/1  3,144  2,393  2011  $500,000  $487,500  $203.72  $487,500  $203.72  10  0.98 
16728421  1/06/2014  715 W 12th  Houston Heights  2/1  3,200  2,682  2005  $539,000  $539,000  $200.97  $539,000  $200.97  1.00 
67536225  1/13/2014  6530 LINDYANN LN  TIMBERGROVE MANOR 7  3/0  8,775  2,334  1958  $546,500  $531,710  $227.81  $531,710  $227.81  0.97 
49648570  1/30/2014  2625 Arlington  Houston Heights  2/1  3,180  2,567  2013  $549,000  $525,000  $204.52  $525,000  $204.52  73  0.96 
28095419  1/24/2014  717 W 10th St  Houston Heights  2/0  4,440  2,067  2013  $550,000  $537,500  $260.04  $537,500  $260.04  111  0.98 
47880242  1/20/2014  1905 W 14 th  Cooksey Place  2/1  5,852  2,940  2006  $609,000  $600,000  $204.08  $600,000  $204.08  112  0.99 
72484583  1/24/2014  1041 WAVERLY ST  HOUSTON HEIGHTS  3/1  6,600  2,800  1920  $675,000  $655,000  $233.93  $655,000  $233.93  57  0.97 
24984470  1/16/2014  2131 OXFORD ST  Heights  3/1  4,356  3,076  2006  $700,000  $680,000  $221.07  $678,000  $220.42  62  0.97 
32421068  1/13/2014  919 Worthshire St.  TIMBERGROVE MANOR 4  3/1  7,770  3,442  2004  $749,000  $749,500  $217.75  $749,500  $217.75  117*  1.00 
94546786  1/31/2014  928 Lawrence  Heights  3/1  5,250  3,305  2013  $770,000  $740,000  $223.90  $740,000  $223.90  109  0.96 
53401438  1/24/2014  626 Algregg St  Houston Heights  3/1  5,504  3,255  2013  $875,000  $840,000  $258.06  $840,000  $258.06  96  0.96 
25076692  1/31/2014  745 W 17th Street  Houston Heights  1/0  26,625  1,296  1920  $885,000  $775,000  $597.99  $775,000  $597.99  76  0.88 
37537484  1/30/2014  437 W 22ND ST  Houston Heights  4/1  6,550  4,118  2003  $949,900  $949,900  $230.67  $949,900  $230.67  37  1.00 
Average   3   2   5,247 2,109   $445,220 $435,730   $434,755   45 0.98
Number of Properties: 51
( Average SalesPrice / Average SqFt ) : ( 435730 / 2109 ) = $ 206.61
( Average Adjusted SalesPrice / Average SqFt ) : ( 434755 / 2109 ) = $ 206.14

Adjusted SP is calculated as (Sales Price - Sellers Contribution to Closing Costs - Repairs Paid by Seller)

Adj. SP/SF is calculated as (Sales Price - Sellers Contribution to Closing Costs - Repairs Paid by Seller)/SF

Property Type:   Condo/Townhouse       Status:   Sold
Subject
Property
                             
MLS# Closed Date Unit # Address Subdiv. BR Bths #Gar / CP YB Bldg SqFt List Price Sold Price SP/ SF Adjusted SP Adj. SP/SF DOM SP/LP %
26806947  1/31/2014  1603 HEIGHTS BL  HEIGHTS BOULEVARD CONDOMINIU  1/0  1 /   93  900  $158,000  $154,000  $171.11  $154,000  $171.11  43  0.97 
79570491  1/30/2014  1140 W 25TH ST  WEST TWENTY FOURTH STREET SQ  2/0  2 /   04  1,616  $244,900  $242,400  $150.00  $242,400  $150.00  0.99 
28859448  1/13/2014  1333 W 21ST ST  Shady Acres  3/1  2 /   03  2,277  $304,000  $304,000  $133.51  $304,000  $133.51  1.00 
78142404  1/23/2014  927 22nd STREET  TRIPLE PALM L L C  3/1  2 /   07  2,454  $309,888  $304,000  $123.88  $304,000  $123.88  60  0.98 
91381538  1/31/2014  1239 22ND ST  Shady Acres  3/1  2 /   13  2,333  $325,000  $325,000  $139.31  $325,000  $139.31  1.00 
60998407  1/31/2014     1803 STACY CR  ENCLAVE ON T C JESTER  3/1  2 /   04  2,527  $344,500  $330,000  $130.59  $329,000  $130.19  23  0.96 
19182294  1/31/2014  1141 W 24TH ST  Shady Acres  3/1  2 /   09  2,338  $349,900  $349,900  $149.66  $349,900  $149.66  17  1.00 
61613354  1/31/2014     1232 Hobbs Reach Lane  COVINGTON PARK  3/1  2 /   13  2,122  $361,190  $369,706  $174.23  $369,706  $174.23  245  1.02 
63180077  1/29/2014  1115 W 18th  Villas at Eighteenth  3/1  2 /   13  2,150  $394,990  $375,000  $174.42  $375,000  $174.42  135  0.95 
Average   3       2,080 $310,263 $306,000   $305,889   59 0.99
Number of Properties: 9
( Average SalesPrice / Average SqFt ) : ( 306000 / 2080 ) = $ 147.12
( Average Adjusted SalesPrice / Average SqFt ) : ( 305889 / 2080 ) = $ 147.06

Adjusted SP is calculated as (Sales Price - Sellers Contribution to Closing Costs - Repairs Paid by Seller)

Adj. SP/SF is calculated as (Sales Price - Sellers Contribution to Closing Costs - Repairs Paid by Seller)/SF

Property Type:   Lots/Acres/Farms       Status:   Sold
Subject
Property
               
MLS# Closed Date Address Subdiv. Acres Land Size SqFt SP/ SqFt Sale Price DOM SP/LP %
2905843  1/17/2014  438 W 24th  Houston Height     9825  $61.07  $600,000  36*  0.86 
Average 0.00 9825 $61.07 $600,000 36 0.86
Number of Properties: 1
( Average SalePrice / Average SqFt ) : ( 600000 / 9825 ) = $ 61.07

Property Type:   Mid/Hi-Rise Condo       Status:   Sold
Subject
Property
                             
MLS# Closed Date Address Unit # Building BR Bths Fl Bldg SqFt Maint Fee List Price Sold Price SP/ SF Adjusted SP Adj. SP/SF DOM SP/LP %
83540744  1/06/2014  1111 Studewood  602  1111 STUDEWOOD PLACE  2/1     1,845  590  $510,000  $498,000  $269.92  $497,040  $269.40  0.98 
Average   2     1,845   $510,000 $498,000 $269.92 $497,040   3 0.98
Number of Properties: 1
( Average SalesPrice / Average SqFt ) : ( 498000 / 1845 ) = $ 269.92
( Average Adjusted SalesPrice / Average SqFt ) : ( 497040 / 1845 ) = $ 269.40


What is your Opinion?