Coming off a rough month of March sales-wise, there wasn’t much place to go but up for local residential real estate markets. As a result, April was a better month for several local markets.
While some still continued to lag behind their 2021 paces, others showed signs of coming back to life, according to the most recent data from the Houston Association of Realtors (HAR).
The 77092 zip code that includes the Langwood/Kempwood area had its second straight month of a year-over-year monthly rise in sales, while Northside/Northline (77009) and Greater Inwood (77091) showed signs of rejuvenation, according to the data. Meanwhile, the downturns continued last month in the Greater Heights (77008), Garden Oaks/Oak Forest (77018) and Washington Avenue/Rice Military (77007) neighborhoods.
For the fourth consecutive month, the area’s average home price also continued to rise almost uniformly across the board, with the exception of 77092’s median price dropping by more than 5 percent year-over year.
77018
This is the third time in four months that the zip code encompassing Garden Oaks/Oak Forest area and other nearby neighborhoods has seen a year-over-year sales drop, according to HAR data. Seventy-nine homes came off the market in this part of the area, a 16 percent dip compared to 94 during the same period in 2021. Year-to-date, the 277 homes sold here is 6.1 percent behind last year’s pace of 295.
Pricing-wise, the average buyer paid 13.1 percent more ($563,256) compared to April 2021, and the average price for a home so far this year is $583,660. Median price also rose 17.9 percent compared to last year (up to $458,000), while the median price through the end of April is $469,000.
77091
Following a stagnant March, the area which includes Greater Inwood and Acres Homes bounced back in a big way. There were 27 homes sold here last month, a 17.4 percent increase from the 23 sold in April 2021. And though its 105 sold through the end of April is the lowest total in the area, its 14.1 percent year-to-date increase is the biggest jump among local zip codes.
On the pricing front, the average price for a home so far this year has been $304,581, while the average April sales price jumped 8 percent up to $303,548 compared to the same month last year. Year-over-year median sales price spiked 14.3 percent up to $319,900, while overall median price for the year is $319,000.
77092
The western edge of The Leader’s coverage area had a second straight strong month, seeing 39 homes come off the market (up 8.3 percent) compared to 36 in April 2021. On a year-to-date basis, the 124 sales in this area through the end of April is 7.8 percent ahead of last year’s mark of 115.
Average buyers paid 5.5 percent less for a home last month ($342,869) compared to April 2021, and the average price for a home so far in 2022 has been $329,714, according to HAR data. The April median home price stayed largely the same (up 0.9 percent to $329,888), though it was higher than the overall median price for the year of $319,888.
77008
On the heels of a rough March, it didn’t get much better for the Greater Heights area. The area saw a 22.9 percent year-over-year dip in sales, with 101 homes sold last month compared to 131 in April 2021. Through the end of the month, its 381 sales are down 9.9 percent from the same span last year.
With regards to home price, the average home went for 12.1 percent more ($714,775) compared to last April. The average price for the year has been $652,299. Median price was up 18.1 percent ($620,000) compared to last April and currently sits at $560,000 for 2022.
77009
The zip code encompassing much of the Woodland Heights, Sunset Heights and Northside Village didn’t see much year-over-year change for April, seeing 64 homes come off the market after 63 were sold last April. Year-to-date, its 204 homes sold is a 2 percent increase over the 200 sold in 2021.
Compared to 2021, the average April home price spiked 32.4 percent – the largest local rise – to $607,213, though the average mark for the year still sits at $544,545. The April median price was up 13.3 percent year-over-year to $489,550, and the overall median price for 2022 sat at $462,500 at month’s end.
77007
The Rice Military/Washington Avenue area was the third of local markets to experience a year-over-year dip in April, with the 88 sales representing a 3.3 percent drop from 91 sales last April. However, the zip code remains 5.3 percent ahead of last year’s pace, having sold 335 homes through the end of the month.
Average home buyers paid $684,357 here last month – up 22.9 percent from last April – and have paid an average of $623,645 so far in 2022. As far as median price, it was up 14.5 percent ($535,000) compared to last April, and stands at $515,000 for the year.
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