Bellaire, Texas Market Conditions Report in Houston, Texas - March 8, 2008

By
Real Estate Agent with Keller Williams

 

According to information that I reviewed on Houston Association of REALTORS Multiple Listing Service, there are currently 134 single family residential homes on the market in Bellaire, Texas priced from $234,900 for a 1100 sq. ft., 3 bed/1 bath home on a 8190 sq. ft. lot near a highway feeder road to a high asking price of $2,899,000 for a 9662 sq. ft., 5 bedroom/ 5 full, 2 half bath, 3 car garage home on a 18,450 sq. ft. lot built in 2004. The average list price per sq ft is $249.39. Home sellers have forty eight homes for sale for over $1,000,000 and 25 homes priced at $400,000 or less. As of 03/6/2008 home buyers have an additional 32 homes pending under contract priced from $239,000 to $1,795,000.

During the month of January 2008, 12 single family homes closed with sale prices ranging from $239,900 to $1,864,000. The average sales price per average sq. ft. was $213.24/ sq. ft.

In February 2008, 12 sales closed with an average sales price per average sq. ft. of $203.09. The low sales price was $240,000 for a lender owned 1763 sq. ft., 4 bed/ 2 bath home on a 8450 sq. ft. lot next to the feeder road and sold "as is". The highest reported sales price was $1,425,000 for a 5 bed/6.5 bath home built in 2006 on a 8450 sq. ft. lot.

There are presently reported to be 5 townhomes actively on the market, priced from $199,000 to $325,000. The average list price per sq ft is $159.89.  Three sold in February and 2 are pending sale.

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, new construction homes.

ZIP Code: 77401

Location Characteristics: Bellaire, Texas, 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 Texas Medical Center.

Bellaire is zoned for residential,commercial, and light industrial sections. The city 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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Rainmaker
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Connie Betz
Berkshire Hathaway HomeServices Ambassador Real Estate - Omaha, NE
Top Omaha Realtor - Omaha Homes for Sale

Hi Meg,

I love your market reports.  This is something I plan on doing for my area but I haven't decided if it would be better to do by city or by neighborhood subdivisions.  Great info!

Mar 10, 2008 01:36 AM #1
Rainmaker
82,231
Meg Zoller
Keller Williams - Houston, TX
Houston Fine Homes
Connie - I do both.  I live in Bellaire which is a city completed surrounded by Houston.  Then I also do 8 neighborhoods that we work.  I wish you the best of luck!
Mar 11, 2008 01:13 AM #2
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Rainmaker
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Meg Zoller

Houston Fine Homes
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