Houston has entered into a healthy market as of the past few months. Housing inventories are well balanced as are the numbers of available home buyers. The Houston Chronicle wrote an article today that reflected home prices in Houston. The median price in Houston for 2005 was $70.04 per square foot, which would mean a 2,000-square-foot house would cost $140,080. Housing in Houston if very affordable in comparision to other large metropolitan areas. Unlike other cities constrained by a lack of available land, Houston's continued sprawl has helped keep home prices affordable by constantly filling the pipeline with new homes. Homes in Houston generally don't appreciate more than 3 or 4 percent on average each year. Certain areas and neighborhoods however have seen tremendous growth due to new construction and lot values. Neighborhoods including Memorial, Montrose and Tanglewood have seen a healthy increase in appraised values. Hot neighborhoods right now are Braes Heights (many selling for lot values to make way for new construction in the 700's and 1.2 Millions), Meyerland, Rice Military, Museum District, Bellaire, Garden Oaks, Oak Forest and other neighborhoods that are attracting buyers and builders. Other areas such as Shadow Creek Ranch in Pearland and Cinco Ranch in Katy have seen tremendous growth as well.
Sincerely,
Diego E. Jaramillo
Realtor, ABR, e-Pro
Keller Williams Houston Metropolitan
Cell: 832-282-2069
Online at www.houstonheritage.com
"Because my business is primarily based on referrals, I thank you in advance for your endorsement. If you or anyone you know are considering buying or selling a home, please think of me."