Real Estate Roundup
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We relied on a group of the city’s most informed and experienced real estate professionals to give us a synopsis of last year and 2020. Take a look at your neighborhood and see how it is doing.
Bellaire – (Neil Silverman)
The City of Bellaire, referred to as “City of Homes” due to its residential character, was established in 1908 and incorporated in 1918. An Enclave Community surrounded by the city of Houston, Bellaire enjoys all that Houston has to offer with the comfort of knowing we can depend on our first-class municipal services and public safety departments, truly setting Bellaire apart. Bellaire population is 18,425 with just over 6600 homes and has a landmass of 3.6 square miles. There are almost 20 parks that offer an assortment of amenities and vary in size, 1 Public Library, 4 Tennis Courts, Aquatics Center, Evergreen Pool, Recreation Center with basketball and fitness room, and multiple baseball and softball fields. In 2019, Bellaire saw the completion of the Municipal Facilities project, including the construction of a new City Hall and Civic Center and a new Police and Municipal Court building.
Neil Silverman, a local neighbor for over 25 years, with Bernstein Realty who list and sells homes in Bellaire, welcomes the opportunity to be of service, please contact him for all your Real Estate needs at 713.725-9750.
Briargrove – (Melinda Gordon)
Briargrove is a beautiful neighborhood conveniently located 2 miles west of The Galleria in Houston as far south as Westheimer as far north as Woodway just west of Fountainview, the north section borders Tanglewood. There are many excellent local restaurants and shops within walking distance. Briargrove Elementary is a highly ranked HISD school. The community has just over 900 homes total with a solid HOA, which provides a 24 hr. Security Patrol. Briargrove has a neighborhood playground with a pool that offers a swim team in the summer months. You can always find neighbors out front hanging in their Adirondack chairs!
Melinda Gordon, a local neighbor, with Bernstein Realty who lists and sells homes in Briargrove, welcomes the opportunity to be of service, please contact her for all of your real estate needs at 713.256.9145.
The Heights
This diverse small-town community was developed in the 1890s by its founders Oscar Martin Carter and Daniel Denton Cooley. They were the principles of the Omaha and South Texas Land Company, and these midwestern investors were drawn to the higher elevation of the area and purchased 1,700 acres of land. With electrification, the developers could expand further from downtown Houston with the use of the city’s streetcar system. The Heights became the city’s first large, planned community and existed separate from Houston until annexed in 1918. Today the Heights has much to offer its residents, including one of Houston’s grandest boulevards, home of a 3-mile walking trail, majestic trees, and public art sculptures. The Heights architecture ranges from Texas Victorians, turn-of-the-century bungalows, and new development. Other amenities the Heights offers are exemplary schools, acres of parks, miles of trails, an exploding restaurant scene, live entertainment, antique stores, and offbeat boutiques. Recently, portions of the Heights have been designated as historic, which has preserved the original character of the neighborhood.
Single-family homes range from $325,000-2,100,000 with standard lot sizes ranging from 4,400 square feet up to 7,500 square feet. The amount of single-family sales for 2019 was close to 1,300 transactions, with an average price per square foot of $256. Townhomes mostly exist on the outer boundaries of the Heights and range from $300,000-$530,000. In 2019 there were 141 transactions with a price per square foot of $187. Lots in the Heights range from $210,000-$1,800,000, with an average price of around $57 a square foot. If you’re in the rental market, there is a wide variety to choose from, including garage apartments, which start around $775 a month to luxury homes up to $7,000 a month.
Amanda & Rich Anhorn | Greenwood King Properties |713.255.5123 | anhorn@grenwoodking.com
Top Producer 2004-2019
Independence Heights
Houston’s newest “hot spot” for new construction is called Independence Heights. Located North of the Houston Heights, just outside 610 Loop, “The Super Neighborhood,” was created by the City of Houston, which drew its borders as Tidwell to the North, Shepherd Drive to the West, 610 to the South and 45 to the East.
Similar to the Heights, this area is rich with history. It started to develop in 1908 by Wright Land Company and was incorporated Independence Heights. It became the first African American municipality in Texas. Then in 1929, the community was annexed by Houston.
In 2018, the Houston Chronicle said this area “has it all” and cited a study conducted by Redfin, who ranked neighborhoods based on what buyers wanted. Priorities were good schools, transit options, commute times, crime, and affordability. Independence Heights ended up ranking 13 out of 25 in their nation-wide study.
The recent development of a Whole Foods 365 at 610 & Yale has prompted other businesses to take a risk in this “up-and-coming” location. For 2017, the average sales price for a lot was $45,316. In 2019, that jumped to $62,954.
Let’s not forget the area’s popularity with Millennials, as well. As of two years ago, they represent the largest cohort of homebuyers in the country, and Houston is no different. The key to their heart is also affordability. New construction ranges from $300k-$365k in most cases.
Jessica McCreary is Broker /Owner of HTX Living, LLC. p. 713 408.3195
Currently, for Sale 183 Homes / 56 Listings are Lots
Currently for Lease 35 Homes
As of 1/1/2020:
6 Lots Sold / Avg. Lot Size is 6,281sf / Avg. Sales Price is $126,833
16 New Single-Family Homes Sold / Avg Lot Size is 2,456sf / Avg Interior Size 1,680sf / Avg Sales Price is $283,890
Memorial Villages
The Memorial Villages consists of six villages. Four are just south of I-10: Hunters Creek, Piney Point, Bunker Hill, and Hedwig, and two villages just north of I-10: Spring Valley and Hilshire. They all serve as a collection of upscale residential communities right outside the 610/I-10 interchange. The largest village, according to the 2010 consensus, is Hunters Creek at around 4,300+ residents, and the smallest is Hilshire, with just under 800 residents. All six of the villages are served by the Village Fire Department and have their own elected mayor and city council. The Memorial Villages Police Department serves Bunker Hill Village, Piney Point Village, Hedwig, and Hunters Creek Village, while Spring Valley and Hilshire Villages are serviced by The Spring Valley Police Department.
All six villages are zoned to the Spring Branch Independent School District (SBISD), which is a highly rated public school district with an overall ranking of an A-. In Harris County, SBISD is rated #5 best places to teach, #6 best school district and #7 best district for athletes and safety and #8 in diversity.
Being a resident of Spring Valley Village for over eight years, I love this community and watching my children grow up the way I did, playing outside in the front yard and running from one house to the next. From the neighbors to the police department, everyone watches out for each other, and I feel incredibly safe living here. It is not only a beautiful place to live and raise a family, but it’s also a great place to invest in real estate. Before 1981, city ordinances limited all single-family homes to one-story, but today, most have been renovated or torn down for new construction. Due to the tremendous population growth, Spring Valley’s Planning and Zoning Commission made it mandatory, unless grandfathered in, for lot sizes to have a minimum of 10,000 square feet.
77024 Villages Stats (Per MLS)
Jan 1 – Feb 28, 2019
11 Single Family Homes Sold
Average Sales Price: $1,898,245
Average SF: 5,445
Average Lot SF: 25,485
4 Lots Sold
Average Sales Price: $1,142,725
Average Lot SF: 27,168
Jan 1 – Today, 2020
13 Single Family Homes Sold
Average Sales Price: $2,378,427
Average SF: 6,298
Average Lot SF: 24,851
8 Lots Sold
Average Sales Price: $1,121,844
Average Lot SF: 19,842
**25% Price Increase in Single Family Home Sales!!**
77055 Villages Stats (Per MLS)
Jan 1 – Feb 28, 2019
10 Single Family Homes Sold
Average Sales Price: $882,012
Average SF: 3,288
Average Lot SF: 12,325
1 Lot Sold
Average Sales Price: $637,500
Average Lot SF: 9,527
Jan 1 – Today, 2020
6 Single Family Homes Sold
Average Sales Price: $1,232,437
Average SF: 3,831
Average Lot SF: 11,175
2 Lots Sold
Average Sales Price: $607,000
Average Lot SF: 13,512
**40% Price Increase in Single Family Home Sales
Alex Loyd is a Top Producer with Compass RE Texas p. 713-851-2521
Memorial West – (Amy Bernstein)
Memorial West encompasses a wide variety of neighborhoods, and all located North of I-10. Some of the most popular neighborhoods inside the Beltway are Frostwood, Memorial Forest, Memorial Bend, Tealwood, Sandalwood, and Fonn Villas. The area also extends outside the Beltway to Memorial Glen, Gaywood, Nottingham, Nottingham Forest, Wilchester, and beyond. It is convenient to City Centre, Town and Country, and Memorial City Mall and a short commute to the Energy Corridor. Memorial West is also home to one of Houston’s largest parks, Terry Hershey Park.
Amy Bernstein, a local neighbor, with Bernstein Realty, is a top producing real estate agent who has listed and sold homes in the Memorial West area for more than 30 years. Bernstein Realty welcomes the opportunity to be of service, contact us for all your real estate needs at 713.932.1032.
RIVER OAKS AREA – REAL ESTATE UPDATE – FEB 2019
River Oaks is undisputedly Houston’s premier subdivision. With a buy-in price of $1 million and previous non-MLS sales above $30 million, this genteel neighborhood is home to many of Houston’s wealthiest families.
Established in the 1920s by Houston’s famous Hogg family and anchored by the exclusive River Oaks Country Club, the River Oaks subdivision of roughly 1,300 homes built out in the 1920s and 1930s. Most homes have been designed by renowned architects and builders and preserved over the years.
The River Oaks Area would also include the subdivisions of Tall Timbers, Homewood, Royden Oaks, Oak Estates just west of that, Avalon Place, and Glendower Court. These deed-restricted subdivisions are served well by the high-end retail shops and excellent restaurants in Upper Kirby, the River Oaks Shopping Center, and Highland Village.
Many of the highest-priced homes do not appear in MLS, but according to HAR MLS, there were 107 sales of single-family homes in the River Oaks Area in 2018, ranging from $815,000 to $15,680,000 and averaging $2,716,808 ($496/SF) – 9% lower than 2018.
There are also eight luxury HiRISE condominium towers in a broader River Oaks Area, including The Huntingdon, 2727 Kirby, Regency House, The Willowick, Lamar Tower, Inwood Manor, Chateau Ten and the new The River Oaks. 48 condos sold in these buildings in 2019, ranging $170,250 to $6,300,000 and averaging $948,404 ($366/SF).
David Michael Young, Broker Associate
Douglas Elliman Real Estate
david@youngrealtyhouston.com / 713-320-6453
West U
by Alex Loyd
West University Place, well-known to many as “West U,” was developed in 1917 by then Governor of Tennessee, Ben Hooper, and sat on about 2 square miles of land. Many of the streets bear names after many colleges and universities because of the proximity to Rice University. However, in the 1920s, a Rice University English major, Lilly Nicholson, was asked to help name a few of the streets, so she took to her books and named them after some of her favorite literary authors, like William Shakespeare and John Dryden.
West U is often called “The Neighborhood City.” It boasts nine neighborhood parks and community pools, and you will always find the neighbors of West U spending time outdoors or at the infamous West U Little League Ballpark. West U is among the safest communities in Houston, thanks to its West U Police Department and has been named as the best city to live in America.
77005 Stats (Per MLS)
Jan 1 – Feb 28, 2019
16 Single Family Homes Sold
Average Sales Price: $1,384,500
Average SF: 3,540
Average Lot SF: 5702
3 Lots Sold
Average Sales Price: $846,367
Average Lot SF: 7,218
Jan 1 – Today, 2020
20 Single Family Homes Sold
Average Sales Price: $1,734,291
Average SF: 4,141
Average Lot SF: 7,946
1 Lots Sold
Average Sales Price: $675,000
Average Lot SF: 6,000
**25% Price Increase in Single Family Homes Sold.
Alex Loyd is a Top Producer with Compass RE Texas p. 713-851-2521