For much of this year, local neighborhoods have experienced more booms than downturns in terms of year-over-year, monthly home sales. That was not the case last month, however, with October seeing sales drop across nearly the entire area, according to the most recent data from the Houston Association of Realtors (HAR).
According to HAR data, five of the six zip codes served by The Leader experienced some sort of dip in sales volume in October. Only the Washington Heights/Rice Military zip code (77007) experienced a year-over-year increase, with every other area seeing sales dip by at least 23 percent, according to HAR data.
Pricing-wise, many areas saw year-over-year increases, with just one (77009) seeing year-over-year prices drop.
The zip code encompassing Garden Oaks, Oak Forest, Shepherd Park Plaza and the Central Northwest area was one of five area zip codes to see a year-over-year monthly sales volume drop in October. There were 58 sales in these neighborhoods last month, a 23.7 percent dip compared to the previous October.
However, the area has still seen agents close on 793 sales through the end of the month, which is 24.1 percent ahead of last year’s sales pace.
In regards to pricing, this was one of two local zip codes to see a year-over-year dip in both average and median home price. The average buyer paid 8 percent less ($524,290) compared to last year, while median price was down 11.3 percent to $422,500.
Just to the west, the zip code including the western portion of Central Northwest as well as Langwood and Kempwood was the same as its neighbor. Homes sales in this zip code dropped 26.9 percent year-over year, with agents closing on 19 homes as opposed to 26 sales in October 2020. Much like the rest of the area, however, this zip code is still experiencing a good year overall as the 277 homes sold so far is 31.9 percent more than the 210 sold through the same time frame in 2020.
On the pricing side, average price spiked 18.7 percent year-over year, with the average home buyer paying $371,823 last month. Meanwhile, the median price ended the month at $375,000 – a 31 percent increase that represented the biggest local year-over-year spike.
The northern edge of the area, which includes Greater Inwood and Acres Homes, also saw agents have a rough go of things. Home sales dropped 35 percent – the largest local dip – after seeing 13 sales close in the area compared to 20 sales in October 2020. However, this zip code is still 29.1 percent ahead of last year’s sales pace, having seen 230 homes come off the market so far this year.
Year-over-year prices were a bit of a mixed bag last month, with average price rising 2.3 percent up to $267,495, while median home price dropped 4.1 percent year-over-year down to $263,750.
Much like its neighborhood counterpart, it was the first rough month in quite some time for the zip code encompassing the Greater Heights. Year-over-year home sales were down 26.9 percent with 79 homes sold last month, compared to the 108 sold during October 2020. In spite of the year-over-year dip, the 1,106 homes sold through the end of October is 23.4 percent ahead of last year’s pace through the same time period.
Pricing-wise, the average home buyer paid 8.7 percent more year-over-year ($634,624) in this zip code, while the median price was up 1.5 percent to $520,000.
The zip code which includes Woodland Heights and Northside Village, among others, also saw a dramatic sales downturn. Agents closed on 53 homes in the area last month, a 24.3 percent decrease from October 2020. Just like many zip codes in the area, however, these neighborhoods are still seeing a year-to-date sales volume that is 22.8 percent ahead of last year’s pace with 570 sales through the end of the month.
Average home buyers in this zip code paid $539,749 – a 5.2 percent year-over-year decrease – in October, while median price ended the month down more than 8 percent year-over-year to $461,500.
The Washington/Rice Military zip code was the only one to see a year-over-year jump in sales volume, with the 89 homes sold last month representing a 61.8 percent increase over the previous October. Year-to-date, the area has seen 896 homes sold through the end of October, a 34.5 percent increase over the 2020 rate.
On a pricing front, the average home price here rose 5.3 percent to $587,960, while median home price spiked 12.5 percent year-over-year to $500,000.