New construction prices are back to 2017 levels. Fewer new homes were sold last year than 2018. Resale sales numbers are slightly up, with the average price constant and average price psf down 3.6%. Inventory is up. Lot sales are down slightly in the larger lots, prices are stable over last year.
This condo is an an awesome location, with plenty of guest parking nearby. It is an end unit with a window over the kitchen sink overlooking a lawn maintained by the HOA! Large living areas and a patio too! I’m so excited for my client who purchased it at a price that allows her to make the updates she wants and will enjoy for years. Walkable to HEB, Cliff’s Burgers, Ginza Japanese and Southwells! I can’t wait to see the transformation!
This year we were impacted by the inventory of lots…including homes that flooded from Hurricane Harvey. The volume and number of sales are strong, however prices were down 5% for resales, 8 % for recent construction, 11% for half acre lots, all versus the approximately same time last year. These numbers are as of 11/16/2018…it’s supply and demand…happily we still have strong demand.
Low maintenance and vibrantly beautiful, kid and pet friendly and perfect for shady areas. In the past few years I’ve seen a lot of homes in the Heights and inner loop are choosing turf instead of grass. I hear nothing but good feedback, including those that have pets….just hose down and go! This homeowner chose synthetic turf installed by Wakasa on Westheimer, and it looks fabulous.
2017 was a good year, especially for the upper high end market. New construction prices are up and lots are selling about on par with 2016. The middle market has seen some softening, with the exception of “move-in ready” homes. For those not impacted by Hurricane Harvey and flooding it has been business as usual. Flooded homes and lots are hitting the market and are selling at discounts often below land value. Many residents in neighborhoods flooded due to the dam release are rebuilding. What a statement that makes for the resiliency of these lovely neighborhoods. A year or two from now they will be full of beautifully remodeled and new construction homes. It may be a tough year or two ahead but I believe down the road these neighborhoods will shine even brighter after rebuilding.
During our weekly Greenwood King Tuesday tour we saw this beautiful home on Legend Lane and what caught my eye especially was this amazing tile in the laundry room. It is beautiful, clean, and durable ceramic tile. It reminds me of reclaimed vintage tile from Chateau Dominique yet is affordable and timeless because it is ceramic.
Here’s where you can find this beautiful tile: https://www.southcypress.com/products/Storka-Milano/Milano-9-6-x-11-Legato-Hexagon-Deco
Lately I’m seeing brick homes being renovated with exterior treatments to give homes an aged “french country” or antiqued limewash look. Above is an “in progress” photo of a Memorial home. Brick Restoration seems to be doing several jobs in the Memorial area, they have a nice website with more description of the processes. Below is a closeup of the steel or iron front door. I’m seeing lots of these too; these can add abundant natural light and have narrow sightlines.
And below is one more example of a homeowner trying to decide which technique will look the best, it’s a personal choice!