Lovely Spring Branch neighborhoods with healthy appreciation

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.

Search parameters:
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:

http://search.har.com/engine/1022-Ben-Hur-Dr-Houston-TX-77055_HAR4013554.htm