As 2018 wound down, home sales in West University and Bellaire took a sharp drop — but prices were a different matter.
According to figures supplied monthly to Essentials by the Houston Association of Realtors, only 12 homes in each area changed hands, a 57 percent drop from November 2017 in Bellaire, and a 33 percent decline year-over-year in West U.
Still Bellaire prices showed a healthy increase, with the average price of a home growing nearly 20 percent in November, to $984,500, and prices held steady in West U, with a 3 percent increase to a $1,151, average price take.
Overall in the Houston market, HAR reported November sales were down about 2 percent, but said the market was still on target for a record year in volume and prices.
The luxury market of $750,000-plus homes — which includes Bellaire and West U — was still the best performing in November, according to HAR.
BELLAIRE HOME SALES AVERAGE PRICE MEDIAN PRICE
Nov. 2017 28 $827,264 $825,000
Nov. 2018 12 $984,500 $925,000
Change – 57.1 percent +19.0 percent +12.1 percent
Nov. 2017 18 $1,116,817 $1,075,000
Nov. 2018 12 $1,151,004 $1,043,200
Change -33.3 percent +3.1 percent -3.0 percent
Featured in Essentials Magazine/Real Estate, January 2019