Heights sales and price trends have remained strong even in this time of real estate turmoil, reflecting the value of a desirable, close-in location. Rising land values (typically $30-40/SF) are steadily increasing house prices. The quintessential 2 bedroom/1 bath updated Craftsman bungalow now sells for $250 - $300k. Other resale homes go up in price to $1,000,000. The average resale price is now $400K for 2140 Sq Foot 3/2/2. Typical lot size is 5000-6600 SF.
New construction sales are about 30% of the current market. The price of new construction ranges from $400,000 to $1,500,000. The average new home is priced at $590k for 3000 SF. This price can vary from $160/SF to $230/SF depending on lot size, location, style of home and amenities.
There are a few townhome projects in the area too. Prices on these are less of course.
As always, location is the key to desirability and price. The Heights is truly an area where this is critical. Not all blocks are equal, even in this wonderful neighborhood. Call if you would like to chat.
ZIP Codes: 77007, 77008, 77009 Approximate Location Boundaries: Just North of downtown. It is bordered on the East by I-45, and Shepherd/Durham on the West. North of I-10, and South of the 610 N Loop.
Location Characteristics: "The Heights" is a unique neighborhood within Houston's 610 North Loop. Established generally in the 1910's to 1930's it is now an area of distinguished restored homes in a desirable area close to Downtown, the Medical Center and the Galleria. This close-in location has driven the price trend steadily up and keeps fueling the demand for the updated older home and for new construction that keeps the old neighborhood feel.
From the 2 bedroom Craftsman style bungalow (my house) to the ornate 2 story Victorians and Greek Revival homes; the unifying feature of the neighborhood is the front porch. The original idea of the porch was to merge the indoors with the outdoors. Today they are a place to entertain and to greet your neighbors as they walk by.
Although lumped together as the Heights, the area is made up of a number of subdivisions such as Houston Heights, Sunset Heights, Harding Heights, Woodland Heights, Norhill and others. Some of these have been designated historic neighborhoods. The flavor of each area varies, as does it's price range and deed restrictions.
The Heights is a wonderful, historic neighborhood. Inviting front porches are still the norm, which helps us know our neighbors and keeps the old neighborhood feel.
About Rich Martin:
I am in this business because of my love of old neighborhoods and the ever-changing mix of homes in them. New Victorians, historic homes, Craftsman bungalows,charming cottages. This is what I love and sell. A "Hands On" Realtor. I have a team that helps with flyers, marketing, open houses, mailings, etc.. but you will deal only with me. No assistant handles any details of the transaction, from inititial contact, meetings, decision-making to contract and negotiations, to closing. I work directly with you.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
