Hello BBBB Friends:
I got my wish for a crop of new listings this week. I’ve selected 4 new listings to feature today, all in the popular $600-$800k range. To see price changes and status updates on homes that are Still on My List, keep scrolling down!
One of my selections today is a Zillow-owned property. If you have been following the news, Zillow shut down their I-buyer program, Zillow Offers, earlier this month after discovering that pricing homes in this market is more art than science and computer algorithms including Zillow’s infamous “Zestimates” are less than reliable benchmarks for home values. Houston was Zillow Offers’ 4th largest market according to Business Insider and they currently have 104 active listings including 3 in the Heights. Business Insider also reports that the company is asking for less than what it paid for 63% of these homes.
HEIGHTS REAL ESTATE MARKET UPDATE-OCTOBER 2021
Along with cooling weather, Heights real estate cooled off a bit as well. October is only the second month this year with a year-over-year decline in the number of single-family home sales. With record low inventory, buyers may be holding off till spring when historically more inventory will be available. On a year-to-date basis, we are still 26% ahead of last year’s sales.
Key findings for the Heights:
- Active listings were down 28% in October with Heights single-family homes sales also down 29% over the same period last year.
- Year-over-year average sales prices jumped 15% with median sales prices up only 6%.
- For homes that sold in October, 28% went under contract within the first seven days and 61% sold during the first 30 days. The average ‘Close to List Price Ratio’ for these sales was 99%.
- October’s award for highest over-list price sale goes to 1009 Lawrence, a 3/1 fixer-upper or unrestricted 6000 sq ft lot. It sold for $420,000, 112% over list price.
HEIGHTS* KEY MARKET INDICATORS
| SINGLE-FAMILY HOMES | OCT 2021 | OCT 2020 | CHANGE |
| ACTIVE LISTINGS | 239 | 330 | -27.6% |
| SALES | 82 | 116 | -29.3% |
| AVG SALES PRICE | $777,955 | $678,492 | 14.7% |
| MEDIAN SALES PRICE | $662,000 | $625,000 | 5.9% |
| AVG DAYS ON MARKET | 56 | 59 | -5.1% |
| MEDIAN DAYS ON MARKET | 25 | 28 | -10.7% |
| CLOSE PRICE TO LIST PRICE RATIO | 98.7% | 98.7% | 0.0% |
SOLD TO LIST PRICE RATIO ANALYSIS-OCTOBER 2021
| DAYS ON MARKET | ALL | 0-7 | 8-30 | 30+ |
| HOMES SOLD | 82 | 23 | 27 | 32 |
| AVERAGE SALES PRICE/LIST PRICE RATIO (SP/LP) | 98.5% | 100.8% | 98.2% | 96.2% |
| SP/LP RANGE | 73-112% | 94-112% | 93-102% | 83-102% |
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).
The Week’s Featured Properties
1026 Adele: $601,900
- East Sunset Heights area
- Garage-front Neo-Classical built 2018 by Loftech
- 3/2/1, 2571 sq ft on 2500 sq ft lot
- 1st-floor open concept living
- Office space up
- Small greenspace/graveled area in rear
- Front entry 2 car garage
- Curbed street provides additional parking
- Zoned to Field Elementary
This home was purchased in August by Zillow Offers. For comparison, a slightly smaller version of this home located next door, sold in July for $620,000.
******
808 W Cottage: $714,900
- Norhill Historic District
- Craftsman bungalow c. 1920
- 3/2, 1681 sq ft on 5512 sq ft lot
- Renovated kitchen w/exposed original brick chimney
- Bath updates plus fresh interior/exterior paint
- Primary suite w/dual closets and small study
- Back deck and small yard space
- Driveway access w/auto-gate to 1 car detached garage
- Curbed street provides additional parking
- Zoned to Browning Elementary
Walking distance to restaurants on 11th and Studewood as well as to Proctor Plaza which offers a playground and lighted tennis courts.
******
1131 E 7th St: $740,000
- Norhill (below 11th)
- Craftman bungalow c. 1920
- 3/2, 1550 sq ft on a 6750 sq ft lot
- Kitchen and bath updates
- Cute original telephone nook
- Gated dog run
- Back deck w/pergola plus small yard
- Driveway access w/auto-gate to 2 car detached garage
- Curbed street provides additional parking
- Zoned to Travis Elementary
Located just off Studewood with an easy stroll to restaurants on Studewood and White Oak (6th St) as well as Stude Park and the Hike and Bike Trail.
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626 E 13th 1/2 St: $769,900
- Kutschbach (West of Studewood just south of 14th)
- Craftsman bungalow c. 1925
- 3/2, 1730 sq ft on a 6250 sq ft lot
- Updated and expanded in 2002, recent addition of hardwoods in bedrooms
- Two living areas with kitchen open to family room
- Cute kitchen with shaker cabinets & beadboard backsplash
- Screened-in porch ❤️
- Garage APT (336 sq ft, efficiency, kitchenette, full bath)
- Small back yard
- Driveway parking plus 1 car carport beneath apt
- Curbed street provides additional parking
- Zoned to Field Elementary
Lots of curb appeal for this classic double gable Craftsman-style bungalow with shaker accents and tapered porch columns with brick pedestals. This quiet, non-through street, dead-ends at Heights High School.
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This Week’s Price Reductions & Status Updates
PRICE REDUCED
844 E 24th St: $599,999 was $615,000
- Sunset Heights
- Pediment bungalow c. 1920
- 3/2, 1320 sq ft on 4440 sq ft lot
- Expanded/renovated in 2019
- Exposed brick walls and chimney in kitchen/dining area
- Primary suite with walk-in closet
- Covered back deck and small green space
- Driveway access to 2 car detached garage
- Zoned to Field Elementary
The 600 sq ft expansion added a primary suite and expanded living area. I’m not sure you can easily park 2 cars in the new oversized two-car garage. 🤷♀️
******
BACK ON MARKET
1131 Winston: $650,000
- Norhill Historic District
- Craftsman Bungalow c. 1925
- 2/2, 1386 sq ft on 5000 sq ft lot
- Older updates
- Flex space
- Covered back porch and small landscaped green space
- Garage APT (624 sq ft, studio, full kitchen & bath, w/d)
- Driveway access with auto-gate to 1 car over-sized detached garage
- Curbed street provides additional parking
- Zoned to Field Elementary
This home features double jerkinhead (clipped) gables for a pretty look. Walk to Teotihuacan, Spanish Flowers, Hughie’s, and other Main St restaurants. Field Elementary is at the end of the block.
******
OPTION PENDING
4605 Michaux: $515,000
- Norhill Historic District
- Craftsman bungalow c. 1926
- 2/1, 1082 sq ft on 5000 sq ft lot
- Original List Price: $545,000
- Days on Market: 60
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OPTION PENDING
701 E 18th St: $535,000
- Pinelawn
- Craftsman bungalow c. 1920
- 2/2, 1326 sq ft on 4850 sq ft
- Original List Price: $535,000
- Days on Market: 5
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OPTION PENDING
1105 Tabor: $625,000
- Brooke Smith
- Craftsman bungalow c. 2015 by ScottFord Construction
- 4/3, 1875 sq ft on 5000 sq ft
- Original List Price: $625,000
- Days on Market: 34
******
OPTION PENDING
1022 Peddie: $650,000
- Norhill Historic District
- Craftsman bungalow c. 1930
- 2/2, 1334 sq ft on 5000 sq ft lot
- Original List Price: $650,000
- Days on Market: 55
******
OPTION PENDING
617 Oxford: $655,000
- Houston Heights
- Pediment bungalow c. 1920
- 1/2, 2372 sq ft on 6600 sq ft lot
- Original List Price: $820,000
- Days on Market: 175
******
OPTION PENDING
1328 Lawrence #A: $749,000
- Houston Heights
- Recent 2017 construction by 3D Builders
- 3/2/1, 2583 sq ft on a 2525 sq ft lot
- Original List Price: $749,000
- Days on Market: 4
******
OPTION PENDING
612 E 8th 1/2 St: $1,389,000
- Houston Heights
- Queen Anne inspired c. 2004
- 3/2/1, 3608 sq ft on 5513 sq ft lot
- Original List Price: $1,389,000
- Days on Market: 9
******
Going, Going Gone!
SOLD
5407 Sheldon: $650,000
- Sheldon (Houston Heights)
- Craftsman Bungalow c. 2020
- 3/2/1, 1836 sq ft on 5000 sq ft lot
- Price at Time of Contract: $675,000
- List to Sell Ratio: 96%
- Original List Price: $725,000
- Days on Market: 38
******
SOLD
1026 E 16th St: $680,000
- Norhill Historic District
- Craftsman bungalow c. 1928
- 3/2, 1545 sq ft on 5000 sq ft lot
- Price at Time of Contract: $695,000
- List to Sell Ratio: 98%
- Original List Price: $695,000
- Days on Market: 33
- Seller Contribution to Buyer’s Closing Costs: $3,000
******
SOLD
1018 Highland: $710,000
- Norhill Addition
- Craftsman bungalow c. 1920
- 2/1/1, 1228 sq ft on 5000 sq ft lot
- Price at Time of Contract: $699,000
- List to Sell Ratio: 102%
- Original List Price: $699,000
- Days on Market: 4
- Title Paid by Buyer
******
SOLD
1119 Nicholson: $807,300
- Houston Heights
- Greek Revival c. 2011 by Heights Homes
- 3/2/1, 2124 sq ft on 3175 sq ft lot
- Price at Time of Contract: $785,000
- List to Sell Ratio: 103%
- Original List Price: $785,000
- Days on Market: 4
******
SOLD
1445 Hall Place: $995,000
- Ridgewood
- Craftsman 2-story c. 2006 by Wylie and Carruba
- 3/2/1, 2900 sq ft on 5000 sq ft lot
- Price at Time of Contract: $995,000
- List to Sell Ratio: 98%
- Original List Price: $995,000
- Days on Market: 24
******
SOLD
1529 Allston: $1,140,000
- Heights West Historic District
- Craftsman bungalow circa 1920
- 3/3, 2656 sq ft on a 6600 sq ft lot
- Price at Time of Contract: $1,165,000
- List to Sell Ratio: 98%
- Original List Price: $1,165,000
- Days on Market: 18
******
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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