Rice Military Area Market Update – May 2011

Norhill Realty June 16, 2011

Below you will find the most recent data on home sales and prices for the neighborhoods near the Washington 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

79 homes sold in the Washington Corridor in the month of May, 39 detached homes and 40 townhomes/condos.  This is flat from last May, which also saw 79 total sales.  24 of the properties sold were new construction, with is up from the 19 new construction sales posted in May 2010.

Active Listings

There are 529 properties currently on the market, 286 detached homes and 243 townhomes/condos.  In May, 109 new listings came on the market and 100 sellers reduced the list price of their home.

Home Prices

Over the past 12 months, the median sales price for detached properties has risen 3.5% to $295,000 from the same period last year.  Townhouses/Condominiums median prices rose 2% to $275,000, and detached homes rose 2.37% to $325,500.Gibson-optimized-for-Blog

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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