Home sales went into a slump in Bellaire and West University in February over last year, according to figures supplied monthly to Essentials by the Houston Association of Realtors.
Thirteen homes changed hands in Bellaire, down nearly 46 percent over the same period in 2018, while 10 sales were recorded in West U, a 23 percent decline.
The average sales price declined by about 12 percent in Bellaire to $774,077, while the median price inched up to $855,000. The reverse was true in West U, where the average price rose more than 4 percent to $1.24 million while the median price decline nearly 19 percent, but still at a healthy $1.024 million.
The two markets fell into line with the wider Houston housing market sales figures for February, which showed both a decline in sales and prices in the luxury segment, $750,000 and up.
Overall, though, housing throughout the Houston area perked up a bit, with sales prices at record highs and the rental market showing lively activity.
BELLAIRE Home sales Average price Median price
Feb. 2018 24 $878,082 $835,000
Feb. 2019 13 $774,077 $855,000
Change -45.8 percent -11.8 percent +2.4 percent
Feb. 2018 13 $1,189,564 $1,261,228
Feb. 2019 10 $1,240,560 $1,024,550
Change -23 percent 4.3 percent -18.8 percent