Bellaire, Texas Real Estate, Houston, Texas Real Estate - Market Conditions - February 2008 Report

By
Real Estate Agent with Keller Williams

 

According to information that Jim Zoller reviewed on Houston Association of REALTORS Multiple Listing Service, there are currently 132 single family residential homes on the market in Bellaire, Texas priced from a low of $235,000 for a "livable condition", 1530 sq. ft., 3 bed/1.5 bath home on a 8228 sq. ft. lot which backs up to a busy street to the high price of $3,200,000. for a 7731 sq. ft., 4 bedroom/ 5 full, 2 half bath planned new construction luxury home on a 18,525 sq. ft. lot. The average list price per sq ft is $247.66. Forty six homes are for sale for over $1,000,000 and 27 homes are priced at $400,000 or less. As of 02/8/2008 there are an additional 24 homes pending under contract priced from $256,900 to $1,795,000.

During the month of December 2007, 12 single family homes closed with sale prices ranging from $232,000. to $1,680,000. The average sales price per average sq. ft. was $207.69/ sq. ft.

In January 2008 12 sales closed with an average sales price per average sq. ft. of $213.24. The low sales price was $239,900 for a home on a 9250 sq. ft. lot which was sold for lot value. The highest reported sales price was $1,864,000 for a 4 bed/5 full, 2 half bath/ 3 car garage home built in 2000 on a 20,475 sq. ft. lot.

There are presently reported to be 5 townhomes active on the market, priced from $199,000 to $299,000. The average list price per sq ft is $140.09. Although none sold in January, 4 are pending sale.

Luxury new construction in Bellaire is still strong and the prices are increasing due to rising building costs and lot prices. For the most part, construction in Bellaire originated in the late 40's and 50's. Many of these original homes have been and are being purchased at lot value with the old homes being replaced with larger, luxury, new construction homes.

ZIP Code: 77401

Location Characteristics:  Bellaire, Texas is located on both sides of Interstate Loop 610 West, is surrounded by Houston and many subdivisions including West University Place, Southside Place, Meyerland, Willow Meadows, and Afton Oaks. It's a very short distance to the Galleria, Reliant Stadium, downtown Houston, the Theater District, and the Medical Center.

Bellaire is zoned for residential,commercial, and light industrial sections. Bellaire, Texas is well known as a residential city. The city is well-liked for its police and fire protection, parks and recreation facilities, library, public works department, and recycling center.

 

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

Please view 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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