Home sales are heating up in many Houston neighborhoods, according to the Houston Association of REALTORS® Hottest Communities in the Houston Area report.
The area that’s seen the largest year-over-year jump in sales is the Timbergrove/Lazybrook community, where transactions have risen 47.7% annually and the average home price has increased to $654,236.
HAR also analyzed the hottest luxury submarkets, where the typical home costs more than $1 million, around Houston. The neighborhood with the greatest year-over-year uptick in luxury sales activity was Briargrove, where sales were up by 20%. Briargrove was followed by West University/Southside, the Rice/Museum District, the River Oaks area and Memorial Close In.
“Although we are starting to see an increase in activity in some areas inside the loop, affordable housing continues to be the focus, and that’s attracting more people to smaller, outlying suburbs,” said HAR Chair Cathy Treviño. “With many remote workers returning to the office, home prices easing and inventory growing, I believe we could see an uptick in activity in the housing markets around downtown Houston.”
Check out HAR’s list of the top 10 hottest housing markets in the Houston area below.
via HAR