Below you will find the most recent data on home sales and prices for the Montrose/Neartown section of Houston, Texas. If you are interested in receiving monthly Houston and Montrose/Neartown real estate news updates, then sign up for our RSS feed to receive instant updates. For more information aboutMontrose/Neartown or to view past market updates, click here. Or email us at [email protected]
In the month of October, 27 homes sold in Montrose Houston. Of the total home sales, 15 were detached homes and 12 were townhomes/condos. Total sales are up 16% from October of 2011. Historically low interest rates continue to be a driving force that have spurred activity in Montrose and throughout the inner loop.
46 new listings came on the market in October. In total, there are 124 properties currently on the market, 65 detached homes and 59 townhomes/condos. Inventory levels in Montrose continue to remain relatively low. Over the past several months, inventory levels in Montrose have hovered between 3 to 4 months. October was no different with just over 3 months of inventory currently available. We have seen many well placed and well priced homes move very quickly in this market. Montrose remains a very attractive place to live and people are buying and staying.
Montrose/Neartown home prices continue to perform pretty well. Median home prices for the 12 months leading up to October were up only 2.77% from 2011. Average home prices were relatively flat at $389,418. If inventory levels continue at current levels, we may see a sharper increase in prices over the coming months.
Montrose/Neartown is one of Houston’s most urban neighborhoods. According to Walkscore.com, this is a walker’s paradise. Some of the great bars and restaurants in Houston are foot steps away from the hip bungalows, townhomes, and mid-rise condominium towers that dot the area. The area is also home to some great cultural institutions, such as Anderson Fair, the Menil Collection, the Rothco Chapel, and Saint Thomas University. If you would like more information about Montrose/Neartown, give us a call at 713-869-5700 or email us at [email protected].