Hello BBBB Friends:
If you are still rocking your 2023 Christmas tree, this is the week to consider kicking it to the curb. Tree waste day for the Heights is Wednesday, January 17th. Please take the tree’s tinsel, garland, ornaments, and lights off and drag it to the curb. Note: no flocked trees, please! If you miss Wednesday’s pickup, click here for a list of Christmas tree recycling locations.
Today, I’m featuring 4 new listings of varying home styles and price points. Also, keep scrolling down to see price reductions, new contracts, and final sales for those homes that are Still on My List.
2023 ANNUAL MARKET RECAP
The main obstacle to homebuying in 2023 was the increase in mortgage rates, leading some prospective buyers to abandon their home purchase plans while many opted for renting instead. The Heights real estate market started the year with a significant drop in sales volume, and it never managed to recover, ending the year with a 22% decline compared to 2022. By October, as the Federal Reserve continued its efforts to combat inflation, mortgage rates reached levels not witnessed in two decades, surpassing 8 percent.
At the outset of 2023, single-family home inventory was at 2.3 months. Slower sales combined with a modest increase in inventory caused the month’s supply to grow to 3.3 months. A 5.0- to 7.0-month supply has traditionally been considered a “balanced market” in which neither buyer nor seller has an advantage.
May scored the year’s greatest sales volume, with 80 single-family units sold during the month. By the time the books were closed on December transactions, 703 single-family homes had sold in the Heights in 2023. This is the lowest number of annual sales since 2010.
On an annual basis, the average single-family home price was $854,624, an increase of 5.9%, while the median price increased 2.7 percent to $749,000. Total dollar volume for 2023 fell 16.9 percent to about $601M.
BY THE NUMBERS FOR DECEMBER 2023
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
824 E 26th St: $710,000
- Sunset Heights
- Craftsman-inspired c. 2014 by Squarestone Homes
- 3/2/1, 2941 sq ft on a 3000 sq ft lot
- First-floor living, hardwood floors
- High ceilings, coffered ceiling in the dining area
- Primary bedroom with accent wall, spa-type bath, and large closet
- Large game room
- Covered back porch plus landscaped green space
- Driveway access to 2-car front-entry attached garage
- Zoned to Field Elementary
Sunset Heights offers a range of amenities, including access to Halbert Park, Angela’s Oven, Chiloso’s, 14 Pews art house, the Houston Farmer’s Market, and convenient proximity to the 610 freeway.
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805 Ralfallen: $750,000
- Ridgewood
- Craftsman bungalow c. 1920
- 3/2, 1633 sq ft on a 5000 sq ft lot
- Updated kitchen and bathrooms
- Office or 3rd bedroom
- Lots of bright colors!
- Flex room off primary with outdoor access
- Covered back porch, lawn and vegetable garden
- Gated driveway access to a 2-car porte cochere
- Zoned to Field Elementary
Quiet neighborhood within walking distance or a short bike ride to Field Elementary and Heights High School.
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205 Tabor: $1,399,900
- Brooke Smith
- Modern farmhouse, c. 2021 by Enterra Homes
- 4/4, 3009 sq ft on 5000 sq ft lot
- 12′ ceilings down
- Kitchen with high-end appliances and island seating
- Home office or 5th bedroom w/ access to full bath
- Open game room on 2nd floor
- Primary suite with tray ceiling and huge walk-in closet
- Covered patio, small green space
- Generator
- Porte cochere
- Gated driveway access to 2-car detached garage
- Additional driveway parking
- Zoned to Browning Elementary
Did you know that a section of Brook Smith is located south of Main St.? This area is frequently mistaken to be part of Norhill. Homes on the west side of Tabor are zoned to Browning, while homes on the east side are zoned to Travis. Confirming the school zoning for any particular home in this area is important.
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743 Rutland: $1,550,000
- Houston Heights
- French Colonial c. 2013 by GTB Homes
- 4/4, 3490 sq ft on 5861 sq ft lot
- Double gallery front porches
- Open concept downstairs with two living areas
- 4th bedroom or office down with access to a full bat
- Covered side porch, cocktail POOL, and small green space
- Driveway access with auto-gate to 2-car detached garage
- Bricked parking spaces in front
- Zoned to Love Elementary
Pretty tree-lined block located within walking/bike riding distance to M-K-T, Heights Merchantile, and the Hike and Bike Trail.
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This Week’s Price Reductions & Status Updates
821 Pizer: $668,000
- Norhill Historic District
- Brick Bungalow c. 1924
- 2/1, 1165 sq ft on a 5512 sq ft lot
- Original List Price: $680,000
- Days on Market 71
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PENDING CONTINUE TO SHOW
602 Aurora: $674,900
- Sunset Heights
- Craftsman bungalow c. 1928
- 2/2, 1371 sq ft on a 6000 sq ft lot
- Original List Price: $674,900
- Days on Market: 2
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OPTION PENDING
412 Arlington: $949,990
- Houston Heights
- Greek Revival, built in 2014 by Concord Builders
- 3/3/1, 3568 sq ft on a 3300 sq ft lot
- Original List Price: $949,990
- Days on Market: 26
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OPTION PENDING
424 Cortlandt: $999,900
- Heights South Historic District
- Greek Revival, c. 1998 by Premier Victorian
- 4/3/1, 3180 sq ft on a 4950 sq ft lot
- Original List Price: $999,900
- Days on Market: 6
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OPTION PENDING
1205 Temple: $1,200,000
- Brooksmith (south of Main)
- Modern Farmhouse, c. 2022 by Renovated Thinking
- 4/3, 2880 sq ft on a 5,500 sq ft lot
- Original List Price: $1,200,000
- Days on Market: 5
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Going, Going, Gone!
SOLD
1123 W Melwood: $735,000
- Norhill Historic District
- Craftsman bungalow, c. 1927
- 3/2, 1290 sq ft on a 5000 sq ft lot
- List to Sell Ratio: 101%
- Original List Price: $728,000
- Days on Market: 33
- Title Paid By: Seller
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SOLD
1515 Waverly: $1,770,250
- Houston Heights
- Modern farmhouse c. 2023 by ALP Builders
- 4/4/1, 3807 sq ft on a 5503 sq ft lot
- List to Sell Ratio: 96%
- Original List Price: $1,850,000
- Days on Market: 3
- 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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