Local home sales trends were a mixed bag last month, according to the most recent data from the Houston Association of Realtors, though there was one particular zip code which was the area’s shining star.
Some areas saw continued sales growth, with Acres Homes/Greater Inwood (77091) experiencing a 50 percent year-over-year sales volume increase to lead the way for area zip codes, according to HAR’s data.
Also among the biggest risers was the Washington Heights/Rice Military area (77007), which saw sales rise nearly 24 percent, while others such as the Greater Heights and Lazybrook/Timbergrove (77008), Langood/Central Northwest (77092), and Garden Oaks/Oak Forest (77018) saw some fairly dramatic drop-offs.
Many local zip codes saw both average and median home prices rise across the board last month, with 77091 being the lone ranger with its 6.5 percent year-over-year dip in median price.
In the zip code encompassing much of Garden Oaks, Oak Forest, Shepherd Park Plaza and more, home sales were down 12 percent year-over-year, with agents closing on 73 homes last month compared to 83 in September 2020. In spite of that, the area’s 732 sales through the end of the month is 30 percent ahead of its 2020 pace.
On the pricing front, average price was up 3.2 percent to $508,730, while median home price rose 8.1 percent year-over-year up to $427,000.
On the northern edge of the area, the zip code encompassing much of Greater Inwood and Acres Homes was the biggest year-over-year riser among local neighborhoods. Agents closed on 24 homes last month, a 50 percent increase compared to the 16 sold last September. Year-to-date, its 215 home sales are 37.8 percent better than last year’s pace.
Pricing in this area varied last month. Average price rose slightly (1.3 percent) to $259,915, while median home price ending the month was down 6.5 percent year-over-year to $252,500.
The zip code including part of Central Northwest as well as Langwood and a portion of Spring Branch saw the most dramatic downturn in sales volume last month, seeing its sales dip 27.3 percent year-over-year. There were 24 homes sold last month compared to 33 in September 2020. Despite that, the area is 41 percent ahead of its 2020 sales pace, having seen 258 sales this year compared to 183 in the same time last year.
Average home price in these neighborhoods saw a 6.5 percent year-over-year jump to $323,273, while median home price jumped 17.5 percent – the largest of any local zip code – up to $311,250.
In the Greater Heights, it was the second consecutive month where there was a year-over-year dip in sales volume. There were 89 sales in the zip code last month, a figure which was down 19.1 percent from last September’s mark of 110. Despite the dip in September, there have still been 1,024 sales here since the start of the year – 30.1 percent ahead of its 2020 pace.
Average home price in the Heights rose 10.9 percent year-over-year up to $644,680, while the median home price was 9.5 percent higher at $525,000.
Just to the east of the Heights, the zip code that includes Northside and Northside Village was another riser, with home sales increasing by 16.7 percent year-over-year. Agents sold 56 homes here in September, compared to 48 sales the previous September. Through the end of the month, the 517 home sales represent a 31.2 percent increase from the same selling period in 2020.
Pricing-wise, this zip code saw the largest year-over-year spike in average home prices, with the average buyer paying 13.6 percent more ($580,709) compared to last year. The median home price here saw an 8.4 percent year-over-year increase, rising to $479,500.
On the southernmost edge of the area, the Rice Military/Washington Heights zip code saw the second-largest year-over-year sales spike. There were 88 homes sold in the area last month, a 23.9 percent increase compared to the 71 sales in September 2020. Year-to-date, there have been 806 home sales in this zip code through the end of the month, 31.9 percent of last year’s pace through the same period.
Both average and median home price in this area showed 2.6 percent increases, with average price going up to $591,400 at month’s end and median price rising to $492,600.