In the ever-changing Heights real estate landscape, Woodland Heights has emerged as a frontrunner in median sales price in Greater Heights and its neighboring communities, despite a 4.3% decline in sales prices since November 2022. did.
According to recent data from the Houston Association of Realtors (HAR), the median sales price in Woodland Heights in November 2023 was $738,700. Meanwhile, the Houston Heights ZIP code 77008 saw a notable spike, with a median sales price of $652,000, a significant 14.5% increase compared to the same period in 2022.
The recently released HAR Market Report further suggests that the local real estate market is moving towards a more balanced state. The report highlights that there are currently 454 single-family homes for sale, of which 144 are new listings. These new listings could set the stage for solid ground for January 2024, given that December is traditionally a slower time for real estate compared to the warmer months, and there are fewer holiday distractions. The average asking price for these new properties was a staggering $817,469,000, reinforcing confidence in the strength of the market and its potential for continued growth.
Average days on market for November 2023 was unchanged at 25 days compared to 26 days in 2022. There are several factors that help homes sell quickly on the real estate market, and Heights continues to shine in this regard. With highly desirable locations, an eclectic mix of contemporary and historic design, and easy walking distance to a variety of amenities, Heights homes continue to attract buyers and sell quickly. Continuing.
Additionally, Houston Heights remains a hotspot for people looking for rental properties, with 263 homes currently available for rent at an average rental price of $2,618.00. Houston Heights renters typically have a wide range of income levels, influenced by factors such as their occupation, education, and the type of housing they choose. The Heights neighborhood offers a variety of rental options, from apartments and townhouses/condos to single-family homes, to suit a variety of tastes and financial capabilities.
Looking ahead to 2024, Heights real estate agents suggest these trends indicate sustained growth for the Houston Heights area, potentially matching national growth averages. The number of homes coming on the market and the vibrant rental market paint a compelling picture of a thriving community that consistently captures the interest of homebuyers and renters alike, and Houston Heights real estate This indicates that the situation is moving in a positive direction.