Location, location, location
According to the report, the best investments were single-family homes with large lots located in quality neighborhoods with access to major job centers and far from busy thoroughfares.
Homes with a street location with some kind of premier feature (by a cul-de-sac, on a street with a tree-filled median) as well homes that can be rented were also noteworthy characteristics of the neighborhoods with best land value appreciation.
A new 2019 report highlights the top inner Houston area neighborhoods that have created the most wealth for their owners over the past 10 years. More than 400,000 Houston home sales since 2000 were analyzed to compile the most consistent local neighborhoods for long-term investments. This compilation comes from HAR, Redfin and inputs from other local brokers.
In Houston, Redfin spotlighted MacGregor, South Acres-Crestmont Park, and Second Ward as the hottest in the city. In MacGregor, the median price of a home is $310,000, compared to a Houston average of $235,000. Homes here are on the market an average of 64 days; 10.3 percent sold above list price.
Buyers in South Acres-Crestmont Park find one of the best values in the city, with homes averaging a mere $150,000 and (not surprisingly) lasting on the market just 22 days. In South-Acres-Crestmont, an impressive 22.4 percent sold above list price.
Meanwhile, homes in Second Ward sell for $299,900 and are on the market for 59 days. Here, 16 percent of homes sold above list price.
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