Bellaire Real Estate, Bellaire, Texas - January 2008 - Market Conditions

By
Real Estate Agent with Keller Williams

Bellaire, Texas is a city which is completely surrounded by the city of Houston, Texas and is near a number of well-known subdivisions including West University Place, Southside Place, Meyerland, Willow Meadows and Afton Oaks.  It is located on both sides of Interstate Loop 610 West.  Bellaire, Texas is a very short distance to the Galleria, Reliant Stadium, downtown Houston, the Theater District and the Texas Medical Center.

Unlike Houston, Texas, Bellaire is zoned for residential, commercial and light industrial sections.  The city is referred to as a "city of homes".  It is well-known for its police and fire protection, parks and recreation facilities, library, public works department and recycling center.

According to information obtained from the Houston Association of REALTORS Multiple Listing Service, there are currently 131 single family residential homes on the market in Bellaire , Texas priced from $239,900 for a 967 square foot, 2 bedroom, 1 bath home on a 6125 square foot lot which is located near the railroad tracks . . . to the high price of $2,649,000 for a 7500 square foot, 5 bedroom home with 4 full baths and 2 half bath new construction home which is situated on an 18,900 square foot lot.  The average list price is $240.70Fifty four (54) homes are for sale priced over $1,000,000.  There are 25 homes priced at and below $400,000.  As of 01/17/2008 there are an additional 17 homes pending under contract which are priced from $256,900 to $1,999,500.

During the month of November, 2007 . . . 12 single family homes closed with final sales prices ranging from $272,000 to $1,100,000.

Bellaire, Texas real estate offered twelve single family sales which closed in December 2007 with an average price of $207.69 per square foot. The lowest reported price was $232,000 for a 3 bedroom, one bath "livable" home on an 8470 square foot lot. On the other hand the highest reported price was $1,680,000 for a 5 bedroom, 5.5 bath, 3 car garage home built in 2006 situated upon a 13,050 square foot lot.

Six townhomes priced from $220,000 to $299,688 are presently active on the market. The average list price per square foot is $142.62.  There are three townhomes presently pending.  One was sold in December for $260,000.

New construction in Bellaire , Texas is still strong and the prices have been increasing because of the rising lot prices and building costs.  Construction in Bellaire for the most part originated in the late 40's and early 50's.  Many of the original homes have been and continue to be purchased for lot value.  The older homes are being replaced with much larger, custom style new construction homes.

 

Meg and Jim Zoller - The Zoller Group of Keller Williams Realty, The Metropolitan

Please visit our website, http://www.finehomeshouston.com/ . Also, feel free to contact us at:

Direct: 713-661-0884

Toll Free: 800-808-6153

E-mail: Meg@FineHomesHouston.com or Jim@FineHomesHouston.com

Cells: Meg - 713-875-4844 Jim - 713-545-6338

 

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Meg Zoller

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