Montrose-Neartown Market Update – July 2011

Below you will find the most recent data on home sales and prices for the Montrose/Neartown section of Houston, Texas.  If you are interested in receiving monthly Houston and Montrose/Neartown real estate news updates, then sign up for our RSS feedto receive instant updates. For more information about Montrose/Neartown or to view past market updates, click here.  Or email us at info@norhillrealty.com

Homes Sold

51 homes sold in Montrose/Neartown in the month of July, 16 detached homes and 35 townhomes/condos.  This is up 24% from last July, which saw 41 total sales.

Active Listings

There are 338 properties currently on the market, 140 detached homes and 198 townhomes/condos.  In July, 62 new listing came on the market and only 49 sellers have reduced their price.

Home Prices

Median home prices for July were down 8% from the same period last year to $297,000.  The decline appears to have come at the top end of the market.  Townhomes/Condo prices rose 18% from 2010 to 2011.  Detached homes is the place that took the hit.  Median home prices for detached home dropped 1% to $407,500.

Montrose/Neartown is one of Houston’s most urban neighborhoods.   According to Walkscore.com, this is a walker’s paradise. Some of the great bars and restaurants in Houston are foot steps away from the hip bungalows, townhomes, and mid-rise condominium towers that dot the area.  The area is also home to some great cultural institutions, such as Anderson Fair, the Menil Collection, the Rothco Chapel, and Saint Thomas University. If you would like more information about Montrose/Neartown, give us a call at 713-869-5700 or email us at info@norhillrealty.com.

Visit Montrose Houston Homes for more information.