2023Q2 Real Estate Update
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BRIARGROVE
BRIARGROVE
by David Michael Young
The Briargrove subdivision was established in 1948 on the old Peckham family farm, which was miles beyond Houston’s city limits at the time. While most of the original 1 story, ~2,000 SF single family homes have been renovated, many have been torn down to make way for much larger 2 story homes that compete with the estates in nearby Tanglewood.
At the heart of this neighborhood of approximately 900+ homes is the blue-ribbon Briargrove Elementary School, which is one of the major draws for families moving to this neighborhood. Other benefits enjoyed by Briargrove residents are the community pool, clubhouse and play area, and 24/7 courtesy patrol service. No longer on the outskirts of town, Briargrove is served very well by the shops and restaurants in Uptown/Galleria.
According to HARMLS, there were 75 sales of single family homes in Briargrove in 2021 ranging $500,000 to $2,250,000 and averaging $1,096774 ($340/SF) – 8.3% higher than 2020.
David Michael Young, Broker Associate
Compass RE Texas
david@youngrealtyhouston.com / 713-320-6453
HEIGHTS
by Amanda & Rich Anhorn
The Heights, a diverse small-town community “Inside the Loop,” was developed in the 1890s by its founders Oscar Martin Carter and Daniel Denton Cooley, who were the principles of the Omaha and South Texas Land Company. These midwestern investors were drawn to the area’s higher elevation and purchased 1,700 acres of land. With electrification, the developers could expand further from downtown Houston using the city’s street car system. The Heights became the city’s first large, planned community and existed separate from Houston before its annexation 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 Height’s 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. In recent years, portions of the Heights have been designated as historic, which has preserved the neighborhood’s original character.
A recent CNN survey ranked the Heights as the country’s #4 big city neighborhood. Single-family homes range from $325,000-2,400,000, with standard lot sizes ranging from 4,400 square feet up to 7,500 square feet or larger in some cases. The amount of single-family sales for 2022 was over 1,260 transactions, with an average price per square foot of $305. Lots are still in high demand and becoming scarce in the Heights, with prices ranging from $155,000 to $1,325,000 with an average price of around $73 a square foot. In 2022, 42 lots were sold.
Amanda & Rich Anhorn | Greenwood King Properties |713.255.5123 | anhorn@greenwoodking.com Top Producer 2004-2019
MEMORIAL
by Genevieve Rowland
The Memorial area has always been one of the most desirable areas in Houston to live and invest in real estate. In 1996, when I purchased my first house, I was ecstatic to get a 6.5% interest rate! I refinanced a few years later to just above 3%. My house is now worth almost four times what I paid for it.
The Memorial Area holds its value by boasting picturesque tree-lined streets, award-winning schools, acclaimed restaurants, shopping, and some of the best medical facilities in the world. Growing up in the area and attending Hunter’s Creek Elementary, where my Aunt Genevieve also attended, was one of my happiest times. These neighborhoods have minimal commercial intrusion, with many lots ranging from ½ acre to 3 to 4 acres each.
According to the HARMLS market, there were 191 sales of single-family homes in 2022 throughout the four villages South of I-10 (up approximately 80 homes over 2021). The supply was low, which helped set record sales. The low was $750,000 (over $100,000 in 2021), and a high of $9,350,000 on 12/31/2022!
The Luxury market this past year was solid. After slowing toward the end of the year with a 33% year over year in total sales decline from February 2022 to February 2023, the average sales price of homes in The Villages increased from $420.74 to $438.31.
With the discerning buyer expecting more from their homes, the changing working environment, and people wanting an overall high quality of work/home lifestyle experience, now more than ever, The Villages can deliver!
Genevieve Rowland is a Top Producer with Keller Williams Memorial Email at genevieve@rowland-properties.com
RIVER OAKS
by David Michael Young
As you drive north on Kirby Dr from San Felipe St, it becomes immediately evident that you have entered Houston’s premier neighborhood of River Oaks. The 10,000+ SF estates lots that are ½ to 2 acres would impress visitors from anywhere on the planet. And those are not the most impressive of the homes in River Oaks. For those, we need to drive down River Oaks Blvd, Inwood Dr, and Lazy Lane west of Kirby.
With a buy-in price of $1 million and previous non-MLS sales in excess of $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 was primarily built in the 1920s and 1930s. Most of these homes were designed and built by renowned architects and builders, and have been preserved over the years by consecutive owners. There is also plenty of newly constructed homes in River Oaks.
Many of the highest-priced homes are not listed in MLS, but according to HARMLS, there were 25 sales of single-family homes in the River Oaks Area (including Tall Timbers, Homewood, Royden Oaks, and Avalon Place) in the first quarter of 2023 ranging $1,067,000 to $10,500,000 and averaging $3,607,000 ($602/SF) – $1/SF higher than the same period in 2022.
David Michael Young, Broker Associate
Compass RE Texas
david@youngrealtyhouston.com / 713-320-6453
TANGLEWOOD
by Cynthia Wolff
Tanglewood is one of Houston’s premier residential neighborhoods in the Uptown area. It was developed in the 1950s by William Giddings Farrington and designed by renowned architect John F. Staub. Farrington built a community close to the energy corridor yet far enough from the hustle and bustle of downtown. It is known for its large, tree-lined lots and beautiful new and remodeled homes. As a native Houstonian who grew up in the Tanglewood area, I enjoyed watching the redevelopment.
Tanglewood is a thriving community, continuing to attract affluent residents who appreciate the convenient location near major highways and The Galleria. Tanglewood is also home to the Houston Country Club. Real estate in the neighborhood consists of single-family homes. Tanglewood Boulevard is a tree-lined boulevard from Chimney Rock to San Felipe. Tanglewood Boulevard is popular with joggers, walkers, cyclists, and community events.
Tanglewood Real Estate Overview
- Currently, there are eight active listings for sale in Tanglewood.
- The average sales price of the homes on the market is $3,160,250.
- The average size of the homes in the Tanglewood neighborhood is 5,439 square feet.
- The median lot size in Tanglewood is 16,500 square feet.
- Tanglewood has two homes for lease with an average rent of $21,250 per month and $2.29 per square foot.
- In 2022, 36 homes sold for an average sales price of $2,901,245, an increase in the sales price of 9.5% over 2021.
(above numbers are from the Houston Association of Realtors 4-28-2023)
Tanglewood continues to stand as a shining example of a well-planned residential community.
Cynthia Wolff, Realtor Associate, SRES
Beth Wolff Realtors
713-622-9339
cynthia@bethwolff.com
www.bethwolff.com
WEST UNIVERSITY
by Melinda Dawes Ewing
Nestled just to the west of Rice University, West University Place is one of the most desirable neighborhoods in Houston. Stretching just over 2 miles, West U has managed to retain its small-town feel in the middle of a big city. Developed in 1917, the neighborhood still exhibits some of the original bungalow designs but has also made way for newer constructions. West University has shown some of the strongest appreciation in land value over the past 10 years in the city of Houston.
Most commonly known for its street names – resembling universities across the country, the neighborhood has strong educational ties. This makes the “Neighborhood City” an ideal spot for living, working and raising a family. The community manages neighborhood parks, pools, recreation center, library, and much more. No wonder West University has been named one of the best neighborhoods in Houston!
The West U real estate market has been off to a hot start in 2022! Single-Family homes are going quick with multiple offers. Here is a brief overview of West University Real Estate Stats:
- Current Active Listings: 65
- Average List Price: $1,481,882
- Average List Price/SqFt Ratio: 434
- 2021 Sales: 411
- Average Sale Price: 1,496,250
- Average List Price/SqFt Ratio: $422
*All information per HAR MLS.
Melinda Dawes Ewing, Realtor
Martha Turner Sotheby’s International Realty
713.302.6765
CONTRIBUTORS
Amanda Anhorn
Greenwood King-Heights
Amanda and Rich Anhorn specialize in the Heights and other inside-the-loop properties. From 2004-2022, they have been a Greenwood King top producer and number one in the Heights office. Amanda has a B.S. in Management Information Systems from FSU, and Rich has a Bachelor of Arts degree from San Jose State University.
Melinda Dawes Ewing
Sotheby’s Martha Turner International
Melinda grew up in Houston and resides in the West University Place neighborhood with three children, and started her sales career selling advertising at the Houston Chronicle. She brings a lifetime of market area knowledge of homes inside the loop and the surrounding areas.
Genevieve Rowland
Keller Williams Memorial
A third-generation Houstonian who grew up in Memorial, where she attended Hunter’s Creek Elementary, She is in the top 3% of her 800-person brokerage. She is a Texas A&M University graduate who purchased her first Memorial home in 1996.
Cynthia Wolff
Beth Wolff Realtors
Growing up in Houston around her mother’s real estate company, Cynthia became a realtor after she graduated high school. She then successfully closed residential and commercial real estate transactions as an attorney licensed in Louisiana and Texas. She also resides part-time in Crested Butte, CO.
David Michael Young
Compass RE Texas
A native Houstonian, David graduated from Memorial High School and received a BA in finance from UT Austin. He traveled internationally after college, where he cultivated a diverse background in mortgage brokerage, international trade management, and enterprise software sales management.