Prices were up 16% year over year at the end of October 2013. However, the rate of price growth has slowed a bit over the past couple of months. That being said, homes are still selling very quickly. Check out the video and the numbers below for the latest Washington Corridor and Rice Military home prices and sales data.
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Rice Military Market Update – October 2013
The number of home sales slid a bit from this time last year. There were 76 total sales in the month of October in Washington Corridor. That’s down 22% from October 2012, when there were 98 total sales. That being said, the number of homes that are selling continue to sell quickly. Of the homes sold in October, half were under contract in less than 15 days. That’s about what we saw last month, but down 57% from October 2012.
|MLS#||Closed Date||Address||Bedrooms||Bathrooms||Bldg SQFt||List Price|
|83122245||10/14/2013||814 A Olive||3||2||2400||$529,900|
|85803894||10/25/2013||507 N WHITE||3||3||2350||$499,900|
|32442682||10/30/2013||5503 ROSE ST||3||3||2340||$454,000|
|27699438||10/1/2013||6312 SCHULER ST||2||2||1950||$439,000|
|90973594||10/31/2013||716 ASBURY ST||3||2||2267||$435,000|
|14262684||10/28/2013||2415 A LANGSTON||3||3||2586||$419,500|
|82288461||10/24/2013||631 Jackson Hi||3||3||2503||$399,999|
There are currently 264 homes active on the market. That’s up 5 units from the previous month. However, there were 295 homes available this time last year, which might have had an impact on the number of sales for this month. With so few options on the market, Buyer’s may not be finding what they are looking for.
For the 12 month period ending in October 2013, prices rose to $ 415,820 for Washington Corridor. That’s up 16% from the same period ending in October 2012, which was $357,920.
The Washington Corridor is the place to live and play in the city of Houston. Some of the trendiest bars, bistros, and gastro-pubs make the Washington Corridor and Rice Military area their home. The residents of this area love the close proximity to Memorial Park, Downtown, and the Galleria. This hip Houston neighborhood has seen a lot of residential and retail development over the past 10 years and this trend continues.