From January through November, sales of townhomes and condos were up 23 percent, according to data from the Houston Association of Realtors published in a story in the Houston Chronicle:
Prices, tracked through the association’s Multiple Listing Service, are up too. That is especially the case for new properties, which saw a 30 percent increase during that time to $321,809.
While the urban core attracts many of these buyers, the market has grown in master-planned communities that have their own urban centers.
“I’m selling townhomes all the way down in Sugar Land.” said Tim Surratt, a real estate agent with Greenwood King Properties. “It’s about simplification of people’s lives. They want to walk to restaurants, shopping, grocery stores … all that’s important to today’s buyers.”
It’s not just singles who are buying, either.
Families with young children are moving into townhomes, which typically have little or no yard.
They don’t want to commute, Surratt suggested, or perhaps they can’t afford a detached single-family home.
As Houston’s land values have risen, close-in neighborhoods like Montrose, Rice Military and the Heights area have seen an increase in condominium and townhouse-style developments.
There are no upcoming events
Five strategies to facilitate the paradigm shift in transportation
Stop investing in roads to build new neighborhoods that cause other neighborhoods to flood
Houston's mean streets: Our city's road design is killing people