Hello BBBB Friends:
Along with the market’s latest buzz, I’ve got a short list of 3 new listings to share today! Plus, keep scrolling down to see status changes, including price changes, new contracts, and final sales for homes that are Still on My List!
REAL ESTATE MARKET UPDATE
INTEREST RATE 411:
Alright, here’s the scoop: The 30-year fixed mortgage rate has climbed up to 7.09% this week from 6.96% the previous week, according to Freddie Mac’s latest report. Just a year ago, it was sitting at a more comfortable 5.13%. These rates have been hovering above 6.5% since late May and took a sharper hike in mid-July. The last time we saw them tip over 7% was last November, reaching 7.08%. And for a fun fact, this week’s rate is the highest we’ve seen since way back in April 2002 when it was 7.13%.
JULY 2023 MARKET REPORT
The real estate market experienced an uptick in active listings and a notable decrease in sales in July. Properties lingered for longer periods on the market, with the median days on market stretching out to 21 days. A silver lining for home sellers was the nearly unchanged list-to-close price ratio, hovering around 100%. This implies that homes were, on average, selling at their listed price. Yet, from the preceding month, median sales prices underwent a 6.3% depreciation.
FOR THE FULL MARKET UPDATE WITH STATISTICS, CLICK HERE
Have a great week, and,
Let’s look at houses or talk about selling yours!
Becky Davis
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Information About Brokerage Services
TREC Consumer Protection Notice
Becky Davis
Compass Realty
832-628-8221
*Note: For purposes of BBBB, the “Heights” is defined as the area between I-10 and Loop 610 N and between Shepherd and I-45).
The Week’s Featured Properties
808 W Melwood: $599,000
- Norhill Historic District
- Craftsman bungalow, c. 1930
- 2/1, 1366 sq ft on a 5512 sq ft lot
- Updated kitchen and bath
- Home office/flex room
- Backyard with patio and green space
- Gated driveway access to 1-car detached garage
- Curbed Street
- Zoned to Browning Elementary
You’ll find lighted tennis courts, a playground, and an outdoor pavilion just a stone’s throw away at Proctor Plaza Community Center and Park.
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1544 Cortlandt: $1,149,990
- Heights East Historic District
- Craftsman bungalow, c 1920
- 3/2, 1796 sq ft on a 6600 sq ft lot
- Renovated 2018
- Separate living and family rooms
- Back deck, patio, and green space
- Garage APT (552 sq ft, one bedroom, full bath & kitchen)
- Gated driveway access to 2-car detached garage
- Zoned to Field Elementary
Back in 2017, I spotlighted this home as a diamond in the rough. It was on the market for $575,000 and sold for $535,000. Fast forward to 2018, the new owners gave it a makeover and threw in a 2-car garage with a cozy apartment on top. I love seeing such transformations.
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1006 W 9th St: $1,250,000
- Harding Heights (West Houston Heights)
- Contemporary/Modern, c. 2005
- 3/2/1, 2950 sq ft on a 4825 sq ft lot
- Recent interior and exterior renovations
- Interesting accent walls in dining, family room & primary bedroom
- 2nd-floor flex space/game room with balcony entrance
- Primary suite with tray ceiling, sitting area, balcony & ensuite bath
- Covered porches and lush, turfed side yard
- Garage APT (400 sq ft, efficiency, full bath & kitchen)
- Driveway access to 2-car detached garage
- Corner lot, parking pads
- Zoned to Love Elementary
This home, initially designed in a Victorian style, has been renovated by the current owners both inside and out, giving it a more modern appearance and ambiance.
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This Week’s Price Reductions & Status Updates
PRICE REDUCED
517 E 11th St: $829,000 was $839,001
- Houston Heights
- Brownstone, c. 2001
- 3/2/1, 3036 sq ft on a 2800 sq ft lot
- Pine flooring
- Island kitchen with stained wood cabinets
- Primary suite and flex room on 3rd floor
- 2 secondary bedrooms on 1st floor
- Fenced low-maintenance turfed front yard provides green space
- Rooftop deck
- Alley access to 2-car attached garage
- Zoned to Harvard Elementary
Situated opposite Buchanan’s Nursery and just a short walk from some of the most popular spots in Heights, including Field and Tide and Dish Society.
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PRICE REDUCED
743 E 7th: $840,000 was $855,000
- Stude (Houston Heights)
- Craftsman bungalow, c. 1920
- 3/2, 1456 sq ft on a 6250 sq ft lot
- Kitchen and bath updates
- Study/home office or 2nd living space
- Large primary bedroom
- Bricked back yard, fenced front green space
- Garage APT (400 sq feet, efficiency, full bath, no kitchen)
- Gated driveway access to 1-car detached garage
- Curbed street
- Zoned to Harvard Elementary
Cute bungalow, just one house off Studewood. Walk to restaurants on Studewood and White Oak Dr.
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PRICE REDUCED
1208 Tulane: $1,450,000 was $1,495,000
- Heights West Historic District
- Craftsman bungalow c. 1930
- 4/4, 3349 sq ft on a 6600 sq ft lot
- Expanded/renovated in 2019 by L&B Limited
- Study/home office
- One secondary bedroom down with access to a full bath
- Chef’s kitchen with Thermador appliances and island seating for 5
- Primary bedroom plus 2 secondary bedrooms up all with ensuite baths
- Large fenced front yard plus side yards
- Alley access to 2-car attached garage
- Front parking pad
- Zoned to Love Elementary
One of my favorite features is the coffered, bead-board ceiling in the dining room. Additional bead-board ceilings are found on the front porch and foyer.
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PRICE REDUCED
714 E 13th 1/2 St: $1,798,950 was $1,865,000
- Kutschbach (Houston Heights)
- Craftsman meets Queen Anne, c. 2022, by Woodrock Homes
- 4/4/1, 4293 sq ft on 6250 sq ft lot
- Wide-plank engineered hardwood floors
- Study/home office
- Island kitchen with tons of counter space and Thermador appliances
- Huge primary suite
- 3 secondary bedrooms, each with an ensuite bath
- Large game room with access to the balcony
- Covered brick patio plus small yard
- Driveway access to 2-car attached garage
- Additional driveway parking
- Zoned to Field Elementary
The primary suite measures over 650 square feet, with the primary bedroom and bath being approximately the same size. 😮
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OPTION PENDING
216 Teetshorn: $949,000
- Woodland Heights
- Re-imagined Craftsman, c. 1926
- 4/3/1, 2631 sq ft on a 5000 sq ft lot
- Original List Price: $999,000
- Days on Market: 27
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OPTION PENDING
515 W 23rd St: $1,150,000
- Houston Heights
- Greek Revival, c. 2019 by Enterra Homes
- 3/3/1, 2765 sq ft on a 3275 sq ft lot
- Original List Price: $1,150,000
- Days on Market: 22
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OPTION PENDING
605 Euclid: $1,299,000
- Woodland Heights Historic District
- Craftsman bungalow, c. 1930
- 3/3/1, 2750 sq ft on a 5000 sq ft lot
- Original List Price: $1,299,000
- Days on Market: 2
******
OPTION PENDING
1229 Herkimer: $1,650,000
- Houston Heights
- Ranch style, c. 1955
- 4/3/1, 3019 sq ft on a 13,999 sq ft lot
- Original List Price: $1,650,000
- Days on Market: 4
******
Going, Going, Gone!
SOLD
508 Cordell: $865,000
- Brooke Smith
- Modern farmhouse, c. 2017 by Project Bungalow
- 3/2/1, 2758 sq ft on 5000 sq ft lot
- Price at Time of Contract: $895,000
- List to Sell Ratio: 97%
- Original List Price: $925,000
- Days on Market: 149
- Title Paid By: Seller
- Seller Contribution to Buyer Closing Costs: $1,000
*****
SOLD
162 Vieux Carre: $992,500
- Woodland Park Place
- Contemporary/modern, c. 2007
- 3/3/2, 3445 sq ft on a 5567 sq ft lot
- Price at Time of Contract: $999,000
- List to Sell Ratio: 99%
- Original List Price: $999,000
- Days on Market: 10
- Title Paid By: Seller
******
SOLD
448 W 23rd St: $1,472,000
- Houston Heights
- Modern farmhouse, c. 2017 by Sullivan Builders
- 3/2/1, 3078 sq ft on a 6550 sq ft lot
- Price at Time of Contract: $1,469,000
- List to Sell Ratio: 100%
- Original List Price: $1,472,000
- Days on Market: 2
- Title Paid By: Seller
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But wait, there’s more…
This is just the latest and greatest; however, there are still lots more on my list that you can check out here:
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