Montrose is a neighborhood in Houston that I personally call home. The reason why I and many others live here is due to the walkability, central location and overall feel and vibe. Some of Houston’s best restaurants and bars are also located here!
When it comes to real estate, here are three things you should know about Montrose:
1. There Are Many Different Property Types
Within Montrose, you’ll come across nearly every type of residential property: single-family, townhomes, condos, multi-family, luxury leasing, new construction and even properties built +/- 100 years ago. This is important to understand when working to determine the value of a particular property.
2. Homes Typically Sell Between $500-700k
Pricing within Montrose can vary quite a bit as there are opportunities to purchase property at nearly every price point. This all depends on location, property type, property style and age. Below, I’ll show you the breakdown of price points within Montrose for single-family homes on sales in 2021 thus far:
As you can see, the typical single-family homes sells between $500-700k. Here are some more stats based on Q2 2021 year-over-year numbers for the three primary property types:
- Total Sales: 82 (up 82.22%)
- Avg. Sales Price: $783,281 (up 12.94%)
- Med. Sales Price: $697,333 (up 6.30%)
- Total Sales: 60 (up 200.00%)
- Avg. Sales Price: $444,432 (down 6.51%)
- Med. Sales Price: $415,958 (down 8.43%)
- Total Sales: 18 (up 100.00%)
- Avg. Sales Price: $248,172 (down 17.79%)
- Med. Sales Price: $215,500 (down 26.39%)
Click Below To See A Wide Variety Of Available Properties Within Montrose
3. Inventory is More Neutral, But Act Fast!
Looking at Q2 2021 inventory levels for single-family homes, Montrose was at 5.4 months while the greater Harris County market was at 1.5 months. Yes, inventory is a bit more neutral in Montrose; however, the best properties that are well priced and move-in ready go quickly.
Better act fast when those become available!
If you’re interested in learning more about Montrose or any other areas here in Houston don’t hesitate to reach out and I’ll be happy to help!