Hello BBBB Friends:
Thunderstorms are predicted to begin mid-afternoon today so plan on hitting the open house trail early. Today I’m featuring 4 new listings. I also have a few price reductions, new contracts, and final sales to report for homes that are Still on My List. Keep scrolling down to see all of these changes.
HEIGHTS REAL ESTATE MARKET UPDATE
Key findings:
- Coming off last month’s record-setting 132 sales, we took a step back in July with only 96 sales. That’s basically level with June of 2020.
- On a year-to-date basis, Heights sales are 46% ahead of 2020 and 18% higher than 2019, arguably a more “normal” year for comparison purposes.
- The average price for a single-family home in the Heights reached a record high of $771,332 in July, 15% higher than the same month last year.
- For homes that sold in July, 49% went under contract within the first seven days at an average ‘Close to List Price Ratio’ of 102%. That means that a majority of those buyers paid above list price for homes on the market.
- Across all sales, the ‘Close to List Price Ratio’ was 100%.
- July’s award for highest over-list price sale goes to 1541 Tulane, a lovely Colonial Revival home and historical landmark built in 1899. It sold for $1,175,000, 112% over list price.
HEIGHTS* KEY MARKET INDICATORS
| SINGLE-FAMILY HOMES | JULY 2021 | JULY 2020 | CHANGE |
| ACTIVE LISTINGS | 276 | 367 | -24.8% |
| SALES | 96 | 95 | 1.1% |
| AVG SALES PRICE | $771,332 | $669,216 | 15.3% |
| MEDIAN SALES PRICE | $632,500 | $607,149 | 4.2% |
| AVG DAYS ON MARKET | 39 | 58 | -32.8% |
| MEDIAN DAYS ON MARKET | 10 | 35 | -71.4% |
| CLOSE PRICE TO LIST PRICE RATIO | 100% | 98.2% | 1.8% |
SOLD TO LIST PRICE RATIO ANALYSIS-JULY 2021
| DAYS ON MARKET | ALL | 0-7 | 8-30 | 30+ |
| HOMES SOLD | 96 | 47 | 25 | 24 |
| AVERAGE SALES PRICE/LIST PRICE RATIO (SP/LP) | 99% | 102% | 97% | 95% |
| SP/LP RANGE | 62-112% | 92-112% | 91-112% | 62-100% |
Have a great week and,
Let’s go look at houses and talk about selling yours!!!
Becky
Becky Davis
Compass Realty
832-628-8221
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Information About Brokerage Services
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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
816 W Melwood: $499,000
- Norhill Historic District
- Craftsman bungalow c. 1930
- 2/1, 1040 sq ft on 5512 sq ft lot
- Updates to kitchen and bath
- Covered back patio and small yard
- Driveway access to 1 car detached garage
- Curbed street provides additional parking
- Zoned to Browning Elementary
Current owners sheetrocked the garage and added a mini-split AC to provide workshop/entertainment space.
******
545 W 26th St: $719,000
- Houston Heights
- Victorian c. 2009 by SSH Homes
- 3/2/1, 2407 sq ft on 3275 sq ft lot
- Updates: primarily paint
- Double-sided fireplace in primary suite
- Screened-in back porch
- Covered, bricked walkway between house and garage plus green space
- Garage APT (399 sq ft, efficiency, kitchenette and full bath)
- Alley access to 2 car detached garage
- Front parking pad for 2 cars
- Zoned to Helms Elementary
One of a series of Victorian-inspired homes on this block by SSH homes. The new HEB is just a few blocks away.
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404 Archer: $749,900
- Brooke Smith
- Bungalow c. 1910
- 3/2/1, 2244 sq ft on 5000 sq ft lot
- To-the-studs renovation 2021
- Primary bedroom down, 2 secondary bedrooms up
- Small back and side yards
- Side street access to 1 car attached/detached garage
- Zoned to Browning Elementary
- Minimum lot size this and surrounding blocks✔️
This area of Brooke Smith has developed nicely with the aid of minimum lot size restrictions. Brooke Smith has an active neighborhood organization, Montie Beach Civic Club, which works to promote and preserve the neighborhood through initiatives such as the Montie Beach Park Improvement Initiative and minimum lot size advocacy.
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1312 Cortlandt: $995,000
- Heights East Historic District
- Folk Victorian cottage c. 1920
- 3/3, 2148 sq ft on 6600 sq ft lot
- Expanded/renovated approx 2014, freshly painted
- Side and back yard covered in artificial turf
- POOL
- Guesthouse (350 sq ft, efficiency, full bath and kitchenette)
- Back patio plus greenspace
- Driveway access with auto-gate to 2 car porte-cochere
- Curbed street provides additional parking
- Zoned to Field Elementary
This is my cutie patootie pick of the week. Lovely curb appeal and a great front porch for people watching.
******
This Week’s Price Reductions & Status Updates
PRICE REDUCED
617 Oxford: $695,000 was $723,000
- Houston Heights
- Pediment bungalow c. 1920
- 1/2, 2372 sq ft on 6600 sq ft lot
- Expanded/renovated in 2015-2016
- Primary suite with 21′ exposed ceiling
- Full guest bath
- Over 900 sq ft of studio space
- Murphy bed and sink in the studio
- Greenhouse
- Landscaped back yard with mature vegetation and trees
- Driveway parking and
- Pad parking in front
- Zoned to Harvard Elementary
So many unique homes in the Heights and this is a great example. It is the perfect home for an artist or anyone needing studio space. It could also be modified to provide additional bedrooms.
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OPTION PENDING
401 Aurora: $665,000
- Sunset Heights
- Craftsman bungalow c. 1920
- 2/2, 1446 sq ft on 6000 sq ft lot
- Original List Price: $665,000
- Days on Market: 4
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OPTION PENDING
331 W 22nd St: $789,000
- Houston Heights
- Colonial Revival c. 2008 by TW Builders
- 3/2/1, 2322 sq ft on 4366 sq ft lot
- Original List Price: $789,000
- Days on Market: 4
******
OPTION PENDING
606 Cordell: $795,000
- Brooke Smith
- Modern farmhouse c.1920
- 3/3/1, 2609 sq ft on 5000 sq ft lot
- Original List Price: $795,000
- Days on Market: 28
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OPTION PENDING
528 Threlkeld: $799,900
- Usener subdivision (south of White Oak)
- Contemporary/Modern c. 2014 by Arnold Bldrs
- 4/3/1, 3441 sq ft on 2375 sq ft lot
- Original List Price: $840,000
- Days on Market: 59
******
OPTION PENDING
733 Ashland Unit B: $875,000
- Houston Heights
- Modified Colonial Revival c. 2015 by Legion Builders
- 3/2/1, 2370 sq ft on 3643 sq ft lot
- Original List Price: $915,000
- Days on Market: 31
******
OPTION PENDING
419 E 25th St: $1,100,000
- Sunset Heights
- Contemporary/Industrial c. 2003
- 2/2/2, 2956 sq ft on 6360 sq ft lot
- Original List Price: $1,100,000
- Days on Market: 27
******
OPTION PENDING
1020 Tulane: $1,100,000
- Houston Heights
- Modern Craftsman c. 2014 by Modern Bungalow (MB)
- 3/3, 3214 sq ft on 4400 sq ft lot
- Original List Price: $1,100,000
- Days on Market: 11
******
Going, Going Gone!
SOLD
716 E 18th St: $1,160,000
- Pinelawn
- Modern Craftsman c. 2017 by CTC Luxury Homes
- 4/3/1, 3242 sq ft on 5000 sq ft lot
- List to Sell Ratio: 101%
- Original List Price: $1,179,000
- Days on Market: 17
******
SOLD
531 Merrill: $1,295,000
- Woodland Heights
- Modern Craftsman c. 2012 by Mazzarino
- 4/3/1, 3908 sq ft on 5842 sq ft lot
- List to Sell Ratio: 93%
- Original List Price: $1,499,999
- Days on Market: 107
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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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