Washington Corridor Market Update – June 2012

Norhill Realty July 9, 2012

Below you will find the most recent data on home sales and prices for the neighborhoods near the Washington Avenue Corridor in Houston, Texas, including Rice Military, Sawyer Heights, Cottage Grove, and Hogan’s Landing. If you are interested in receiving monthly Houston and Washington Corridor news updates, then sign up for our RSS feed to receive instant updates.  Or email us at [email protected].

Homes Sold

85 homes sold in the Washington Corridor in the month of June, 46 detached homes and 39 townhomes/condos.  This is down 9 units from the previous month.  22 of the properties sold last month were new construction, which is slightly down from May.  This could be good news for existing construction home owners that are ready to put their homes on the market.  With less new construction available on the market, the less the owners of older homes have to compete.

Active Listings

There are 341 properties currently on the market, 206 detached homes and 135 townhomes/condos.  In June, 87 new listings came on the market and the prices were reduced on 44 homes.

Home Prices

Over the past 12 months (ending June 2012), the median sales price has risen about 2% to $300146 from the same period last year (12 month period ending June 2011).  Townhouses/Condominiums median prices rose 4% to $287,000, and detached homes have fallen less than 1% to $317500.Gibson-optimized-for-Blog3

The Washington Corridor is the new place to live and play in the city of Houston.  Some of the trendiest bars, bistros, and gastro-pubs make the West End their home.  The residents of this area love the close proximity to Memorial Park, Downtown, and the Galleria.  This area has seen a lot of residential and retail development over the past 10 years and this trend continue.

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