While the October real estate market was flat for home sales in West University Place, despite a slowdown in sales, there was a welcome rebound in prices for sales in Bellaire after a tough post-Harvey year, according to monthly figures supplied to Essentials from the Houston Association of Realtors.
While just 27 properties changed hands in October this year — down almost 23 percent from last year’s brisk selling after the hurricane — average prices rose 8 percent over last year, and the median price rose by 54.5 percent to $765,000.
There was no change in home sales year-over-year in West U, but the average price dipped slightly to $1,210,187 million, and the median price was down from last October by nearly 13 percent, to $1,163,000.
Overall in the Houston area, the luxury home market — $750,000 and higher — was the strongest segment, with a nearly 13 percent gain in sales over October 2017. Sales and prices eased up slightly in all but the lowest priced segment of housing sales.
BELLAIRE HOME SALES AVERAGE PRICE MEDIAN PRICE
October 2017 35 $653,178 $495,000
October 2018 27 $706,656 $765,000
Change -22.9 percent 8.2 percent 54.5 percent
October 2017 25 $1,294,156 $1,335,000
October 2018 25 $1,210,187 $1,163,000
Change None -6.5 percent -12.9 percent