There are approximately 3500 single family homes in the Houston Heights with an average sales price per sq. ft. of $175 in 2007. Since 1994, this figure has increased every year. The values were $164/sq ft. in 2006, $156/sq ft.in 2005 and $150/ sq ft. in 2004. These figures were obtained from the Houston Association of Realtors Multiple Listing Service, as are the others cited in this article.
Note: Hurricane Ike hit Houston in mid September, damaging property and resulting in lost power to most homes for up to three weeks. Also, the homes under contract before the hurricane had to be reappraised before banks would process loans, causing delays in closings. As I write this in early October, my guess is that the hurricane will impact sales for future months also, due to both personal and business interruptions as well as property damage
There are currently 148 single family homes for sale in the Houston Heights ranging from a 2 bed/ 1 bath, "lot value" property on a 3275 sq. ft. lot listed for $110,000 to a new construction, Victorian style, 4846 sq. ft. building on Heights Blvd which could be used commercially and priced at $1,350,000. The average list price per sq. ft. of the homes for sale is $201.11. Many of the homes for sale are new construction ones on small lots but there are a good selection of older homes. Another 19 homes are under contract as of 12/15/2008 but haven't closed yet.
In October 2008, 20 single family homes sold at prices from a low of $73,850 for a 2 bed ,837 sq. ft. home in need of repairs on a 3275 sq. ft. lot to a high of $940,000 for a combination home-2 apartment-3 storefront building on a 13,200 sq. ft. lot. The overall average sales price per sq. ft. was $165.54.
In November 2008, 15 single family homes sold at prices from a low of $230,000 for a new construction, 3 bed/3.5 bath ,1748 sq. ft. patio home to a high of $1,035,000 for a new construction, 4080 sq. ft., 4 bed/ 3.5 bath home on a 6600 sq. ft. lot. The overall average sales price per sq. ft. was $173.08.
ZIP Code: 77008 Approximate Location Boundaries: Downtown Houston, Memorial Park, Oak Forest
Location Characteristics: This historical neighborhood, with a mixture of bungalow, Victorian homes, and new construction (as well as some industrial and commercial property) was originally established as a planned community in the late 1890s. The location was partially chosen because it was 23 feet higher than downtown Houston, located 4 miles away. In 1918, Houston Heights residents voted for annexation by the city of Houston.
The single family home market in the Houston Heights consists of older Victorian era homes, older bungalows, and new construction. Many of the older homes have been remodeled and over 100 Houston Heights structures are registered in the National Register of Historical Places. The newer construction consists of everything from contemporary designs to Victorian looking homes.
