Earlier this week, we drew from our REAL DATA report to show the most active luxury market in Greater Houston. Now we’re covering the neighborhoods.
In December, for yet another month, there were more $1 million-plus home sales in River Oaks than any other neighborhood in Houston.
With 15 sales closing at an average price of $2.7 million, River Oaks was the city’s most active luxury neighborhood last month, but close behind was Rice, where 14 luxury sales closed at an average of $1.63 million.
Houston’s luxury market has struggled in 2016, with prices and sales slipping. But as our below table illustrates, several markets ended the year on a strong note.
| Neighborhood | $1M+ Sales | Average Sale Price |
|---|---|---|
| River Oaks | 15 | $2,771,369 |
| Rice | 14 | $1,633,214 |
| Galleria-uptown | 12 | $1,979,893 |
| Montrose | 5 | $1,154,400 |
| West University | 4 | $1,510,138 |
| Spring Branch | 3 | $1,266,416 |
| Greater Heights | 3 | $1,210,000 |
| West Houston | 1 | $2,180,000 |
| Southeast | 1 | $1,745,520 |
| Northwest | 1 | $1,068,100 |