Here is an analysis I did for one of my clients this spring. They were first time home buyers who wanted an affordable neighborhood with good schools for their growing family. They were a little concerned about what appreciation might be like in some of the Spring Branch neighborhoods we were looking in ……until they saw these numbers. I took their general search parameters….3 bedroom home between 1900 and 2500sf on a typical lot size of 9000 to 13,000sf and zoned to Valley Oaks Elementary, Spring Branch Middle and Memorial High. I compiled the homes that had sold with their parameters in each of the last 6 years. As you can see, values dropped significantly in 2009 (post stock market crash, credit crisis and hurricane Ike of 2008), lagged in 2010 but significantly increased in 2011. That mirrors what happened in many of the desirable neighborhoods in Houston.
3 bedrooms or more
1900 – 2500sf home
9000 – 13000sf lot
Zoned to Valley Oaks Elementary, Spring Branch Middle, and Memorial High
Spring Valley and City of Houston (Springwood and Timber Creek)
Year # Homes Ave Sales Percent Ave Sales
Sold Sold Price Change Price psf
2011 15 $412,000 10% $186
2010 13 $373,000 2% $177
2009 20 $367,000 -5% $175
2008 20 $388,000 10% $178
2007 9 $353,000 $165
Here is a typical older Spring Branch home that is on the market today that would have met their parameters:
And here is the link for more details:
This bar graph was prepared for one of my clients this spring. We were able to look at a slice of the market in the Memorial Villages (Bunker Hill, Hedwig, Hunters Creek and Piney Point) listed between $1,000,000 and $1,300,000. The BIG RED BAR in this graph shows homes available in this price range over the last 2 years….and inventory had trended down significantly. Even though the last month (March) showed a spike up in homes available, the BLUE BAR shows homes going under contract….and that had spiked up significantly too. I really like being able to confirm what we are “feeling” in the market with data. This spring has been one of the best markets in years in the Memorial area.
Memorial is filled with wonderful places to walk, jog or bike. This photo is looking south on Strey from Bunker Hill Elementary school. Notice how wide the sidewalk is! This is part of the loop shown below. There are lovely wide sidewalks like this on Strey, Memorial, Knipp, Bunker Hill and Taylorcrest. The loop shown below is approximately 2.86 miles. Early in the morning you’ll see lots of residents out in the neighborhood before the late afternoon heat.
When I saw this wrapping area I was so impressed…a simple and oh so functional space. The rods holding the ribbon and wrapping paper are tension rods…so they can be easily removed to replace the rolls. The handy shelf above with pretty baskets is wonderful too. Anchored by a great workspace counter below…I would love to have this in my home! I know I would enjoy it!