I handle real estate transactions all over the greater Houston area, (as of the publication of this, I have listings in Montrose, Memorial & off Champion Forest in Klein, among others, just as an example), but the area I do the lion's share of my transactions in is the greater Hobby area. I wanted to take an opportunity to look back at the sales activity for the past 5 years on some of the more popular neighborhoods in the area to see how their markets have performed recently.
Many closer-in neighborhoods have become out of reach for many buyers, yet despite its close proximity to major employment centers such as downtown, the medical center & major universities, the Hobby area remains relatively affordable. The area has continued to attract new buyers who previously may not have considered this part of town. Over the past few years there have been a number of changes in the area. Several million was invested in landscaping and infrastructure improvements along Broadway Boulevard from Hobby Airport to I-45. The Gulfgate TIRZ was expanded to include much of the area, The world-class Botanical Garden is set to open later this year, having raised over $35,000,000 per their website. A Management District is up and running for the commercial areas, and of course Glenbrook Valley was designated an Historic District several years ago.
I've pulled the median sales price per square foot for each of these neighborhoods, and compared it to what it was five years ago.
Glenbrook Valley - 2015 it was $65.85, 2019 closed out at $109.32.
Meadowbrook Freeway - 2015 it was $63.35, 2019 closed out at $$85.79.
Garden Villas - 2015 it was $66.65, 2019 closed out at $103.60
Meadowcreek Village - 2015 it was $76.29, 2019 closed out at $99.53
Past performance is by no means any guarantee of future performance. This is just a reflection on past performance.
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