Houston’s top-selling suburbs for April 2015.
The floundering oil market and resulting layoffs pose unique problems for big energy economies, like Houston, but in recent months, and in fact years, the Bayou City has emerged as one of the nation’s hottest real estate markets.
Not only has the city proper flourished as home prices and demand surge, but also buyer and seller interests have spilled over into the suburbs, as well, cultivating a landscape rife with opportunity for eager real estate professionals.
Examining local April sales data compiled by Redfin, Katy, with 453 total sales, proved the most attractive suburb, followed closely by Spring, which tallied 438 sales. From Katy to Cypress, which had the third most sales (274), the disparity is significant, especially considering the availability of homes versus population. According to realtor.com, Katy, with a population of roughly 15,000, and Cypress, with a population of nearly 123,000, share similar listing inventories (strictly in terms of numbers) at 2,892 and 2,155, respectively. It’s clear Katy’s demand is much more saturated than its neighbor’s.
Refining the data into more specific categories, certain suburbs stood out as preferential to a particular property type. Looking strictly at condominium and townhome sales, Montgomery (21), The Woodlands (18) and Pasadena (12) stood out – all with double digit sales. Compared to Houston proper, which saw more than 650 condo units sold in April, suburban buyers showed a distinct preference for single-family homes.
In Katy, which performed best overall, single-family homes stood out as the property type of choice with 448 sales, compared to only five condo sales. Again, Spring (432) and Cypress (271) followed, both showing a penchant for single-family home sales.
