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Becky's Best Bungalow Bets for Feb 20, 2022: Top 5 + RE market update (copy)

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Becky's Best Bungalow Bets for Feb 20, 2022: Top 5 + RE market update (copy)

Hello BBBB Friends:

Happy Sunday. It has been a busy week! Half of the homes that were Still on My List went under contract including all 6 that I featured last week. I’m featuring an additional 5 new listings today. For price changes, new contracts, and final sales for homes keep scrolling down.

HEIGHTS REAL ESTATE MARKET UPDATE-JANUARY 2022

Sales of single-family homes in the Heights* in January were up 20% over the prior January and sales for February are on pace to double. Sales for Houston as a whole were up 7% in January. Amidst the good news, HAR Chair Jennifer Wauhob warns, “The Houston housing market staged an impressive start to 2022 but that pace of sales is unsustainable without dramatic and immediate improvement in inventory.”

Key findings for the Heights:

  • In January, the number of active single-family listings in the Heights declined 46% over the previous January but sales were up 20%. Sales for the whole metro area were up 7%.
  • Year-over-year average sales prices in January decreased 14% but the math on this is a bit fuzzy. The mix of price-points for homes sold changed significantly skewing much lower in 2022. If we look at the most common (for the Heights) sales price range of $500,000 to $1,000,000, the average sales price increased 4% in January 2022. The Houston market as a whole saw a 16% increase in average sales prices.
  • For homes that sold in January, 23% went under contract within the first seven days and 50% sold during the first 30 days on market. The average ‘Close to List Price Ratios’ for these sales were 101.2% and 98.8% respectively.
  • January’s award for highest over-list price sale goes to 207 Tabor, a fixer-upper/teardown in Brooke Smith. It sold for $380,000, 17% over list price.

HEIGHTS* KEY MARKET INDICATORS

SINGLE-FAMILY HOMESJAN 2022JAN 2021CHANGE
ACTIVE LISTINGS138256-46.1%
SALES4840 20.0%
AVG SALES PRICE$618,647$720,54514.1%
MEDIAN SALES PRICE$539,167$652,500 -17.4%
AVG DAYS ON MARKET10087 14.9%
MEDIAN DAYS ON MARKET5038 31.6%
CLOSE PRICE TO LIST PRICE RATIO98.8%98.0% 0.8%
Note: Median represents the “middle” number and gives a better representation of central tendency than average. For example, the median sales price is the figure at which half of the homes sold for more and half sold for less. Source: HAR

SOLD TO LIST PRICE RATIO ANALYSIS-JANUARY 2022

DAYS ON MARKETALL0-78-3030+
HOMES SOLD48111324
AVERAGE SALES PRICE/LIST PRICE RATIO (SP/LP)98.7%101.2%99.2%97.3%
SP/LP RANGE87.2-116.9%97.1-116.9%92.8-114.3%87.2-104.6%
The table represents Heights single-family home sales in Jan 2022. There is an average 30 day lag between contract and sales date so consider that many of the sales represented here went under contract in Dec 2021. Source: HAR

Have a great week and,

Let’s go look at houses or talk about selling yours!!!
Becky


Information About Brokerage Services
TREC Consumer Protection Notice

Becky Davis
Compass Realty
832-628-8221

Thinking of selling? We can front the cost for painting, landscaping, upgrades, and more. No fees or interest, EVER! Click here for more information. 

*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). 



4607 Pineridge
Presented by Keller Williams Memorial

4607 Pineridge: $574,999

  • Norhill Historic District
  • Craftsman Bungalow c. 1926
  • 2/1, 1102 sq ft on 5000 sq ft lot
  • Remodeled kitchen and bath
  • Lots of updates including recent HVAC, roof and updated plumbing
  • Back deck, patio, and plenty of green space
  • Secured driveway parking
  • Curbed street provides additional parking
  • Zoned to Field Elementary

This is my cutie patootie pick of the week. If you follow this blog you know that this is my favorite front elevation for a bungalow. The double-clipped (jerkinhead) gables enhance the already charming curb appeal of this home.

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1116 E 16th
Presented by Keller Williams Metropolitan

1119 E 16th St: $589,000

  • Norhill Historic District
  • Craftsman bungalow c. 1928
  • 2/2, 1122 sq ft on 5000 sq ft lot
  • Kitchen and bath updates
  • Lovely manicured fenced front lawn
  • Back patio plus greenspace
  • Garage APT (464 sq ft, 1 bedroom, full bath & kitchen)
  • Driveway access with auto-gate to 2 car detached garage
  • Curbed street provides additional parking
  • Zoned to Field Elementary

Located a block from award-winning Field Elementary and within walking/biking distance of popular Heights restaurants and Proctor Park.

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1141 Dorothy
Presented by Martha Turner Sotheby’s

1141 Dorothy: $693,000

  • Houston Heights
  • Pediment bungalow c. 1935
  • 3/2, 1440 sq ft on 6000 sq ft lot
  • Updated kitchen and primary bath
  • Back deck and small yard
  • Garage APT (600 sq ft, 1 bedroom, full kitchen & bath)
  • Space below garage apt is utility and storage room w/ bath
  • Driveway parking
  • Curbed street provides additional parking
  • Zoned to Love Elementary

I like this particular block of Dorothy. It is curbed and guttered and is mostly older bungalows. Love Park is just steps away.

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Presented by Compass RE

801 W Cottage: $999,000

  • Norhill Historic District
  • 2-story Craftsman c. 1920
  • 4/3/1, 2296 sq ft on 6157 sq ft lot
  • Updated kitchen and primary bath
  • Study down w/full bath could be 4th bedroom
  • 2nd living area upstairs with fireplace and balcony
  • Garage APT (576 sq ft, 1 bedroom with kitchen and bath)
  • Brick patio plus landscaped green space with mature trees
  • Driveway access to 2 car detached garage
  • Corner lot with curbed streets provide additional parking
  • Zoned to Browning Elementary

Lovely location just around the corner from Proctor Plaza Park and close to restaurants at 11th and Studewood. (NOTE: this home is listed as a “non-contributing” home within the historic district.)

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872 Tulane
Presented by Keller Williams Metropolitan

842 Tulane: $1,175,000

  • Houston Heights
  • Greek Revival c. 2012 by Kaavac, LLC
  • 3/2/1, 2394 sq ft on 5192 sq ft lot
  • Double gallery front porches
  • Chef’s kitchen with Viking appliances
  • POOL/spa with flagstone patio & pergola
  • Garage APT (672 sq ft, 1 bedroom, full bath & kitchen)
  • Driveway access to 3 car detached garage
  • Parking pad in front
  • Zoned to Love Elementary

Great location just blocks from Heights Merchantile, Donovan Park, and the M-K-T complex.

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This Week’s Price Reductions & Status Updates

Presented by Compass Real Estate

PRICE REDUCED

725 Columbia: $999,000 was $1,099,000

  • Heights South Historic District
  • Craftsman bungalow c.1920
  • 3/2, 2976 sq ft on 6600 sq ft lot
  • Renovated in 2012
  • Open concept living, dining and kitchen
  • Primary bedroom up, 2 secondary bedrooms down
  • Back yard with pool potential
  • Driveway access with auto-gate to tandem 2 car detached garage
  • Parking pads in front provide additional parking
  • Zoned to Harvard Elementary

Although built in 1920, this is a non-contributing structure in the historic district, most likely due to significant alterations to the original structure. The garage can be accessed from the alley and per the seller, it can support a garage apartment.

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Presented by Boulevard Realty

OPTION PENDING

1015 Fugate: $655,000

  • Norhill Historic District
  • Craftsman bungalow c. 1926
  • 3/2, 1494 sq ft on 5000 sq ft lot
  • Original List Price:  $655,000
  • Days on Market:  5

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Presented by Vive Realty

OPTION PENDING

926 Waverly: $819,000

  • Houston Heights
  • Greek Revival c. 2005 by Tricon Builders
  • 3/2/1, 2320 sq ft on a 4400 sq ft lot
  • Original List Price:  $819,000
  • Days on Market:  4

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Presented by Keller Williams Memorial

OPTION PENDING

762 E 17th St: $829,000

  • Houston Heights (Pinelawn)
  • Greek Revival c. 1929
  • 3/4, 2666 sq ft on 5000 sq ft lot
  • Original List Price:  $829,000
  • Days on Market: 3

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Presented by Compass Real Estate

OPTION PENDING

621 W 16th St: $829,000

  • Houston Heights
  • Modern Craftsman c. 2014 by Mazzarino
  • 3/2/1, 2780 sq ft on 3275 sq ft lot
  • Original List Price:  $829,000
  • Days on Market: 4

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Presented by Compass Real Estate

OPTION PENDING

1329 Lawrence: $899,900

  • Houston Heights
  • Craftsman bungalow c. 1946
  • 3/2, 1550 sq ft on 5000 sq ft lot
  • Original List Price:  $899,900
  • Days on Market:  3

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Presented by Compass Real Estate

OPTION PENDING

1319 Harvard: $1,150,000

  • Heights East Historic Distrrict
  • Craftsman bungalow c. 1910
  • 3/2, 1898 sq ft on 6600 sq ft lot
  • Original List Price:  $1,150,000
  • Days on Market:  18

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Presented by Doug English Properties

OPTION PENDING

933 Allston: $1,195,000

  • Houston Heights
  • Farmhouse c. 1920
  • 3/2/1, 2424 sq ft on 6600 sq ft lot
  • Original List Price:  $1,195,000
  • Days on Market:  15

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Presented by The Advisory Real Estate +

OPTION PENDING

1224 Nicholson: $1,750,000

  • Houston Heights
  • Modern Farmhouse c. 2020 by L&B Limited
  • 5/3/1, 4056 sq ft on 6600 sq ft lot
  • Original List Price:  $1,750,000
  • Days on Market: 5

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Going, Going Gone!

Presented by Redfin Corporation

SOLD

513 Cordell: $508,000

  • Brooke Smith
  • Craftsman bungalow c. 1916
  • 2/2/1, 1535 sq ft on 5000 sq ft lot
  • Price at Time of Contract:  $520,000
  • List to Sell Ratio: 98%
  • Original List Price:  $520,000
  • Days on Market:  5

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333 W 16th St
Presented by Coldwell Banker Realty

SOLD

333 W 16th St: $875,000

  • Houston Heights
  • Greek Revival c. 2012 by Sullivan Builders
  • 3/2/1, 2338 sq ft on 3400 sq ft lot
  • Price at Time of Contract:  $825,000
  • List to Sell Ratio: 106%
  • Original List Price:  $825,000
  • Days on Market:  6
  • Seller Contribution to Buyer Closing Costs: $3,277
  • Title Paid by Buyer

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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:

BBBB: Still on my list!

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