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Essentials News

A Part Of West U and Bellaire Essentials Magazine

February 2019: Dreary month for Bellaire, West U housing markets

April 1, 2019 by Charlotte Aguilar

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

WEST U
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

Apr 1, 2019Charlotte Aguilar

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Filed Under: Bellaire Real Estate, Real Estate, West U Real Estate Tagged With: HAR, home sales

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