The still strong Houston Homes Market has gotten a lot of positive press as of late. With Forbes Magazine naming the Houston Housing Market as the number one place to buy a home in 2008 and Kiplinger’s Magazine naming Houston the United States number one city for 2008, I felt it would make sense to note the Houston Homes Market’s top 10 hottest areas for my readers. These ten Houston Homes Market areas and Houston’s strong job growth have continued to push the Houston Housing Market median and average home sales prices to record highs each and every month, leaving the Houston Real Estate Market as the strongest and most stable market in the United States.
1. Unsurprisingly, the number one Houston Homes Market area for 2008 is MLS area 29. This Houston Housing Market area comprises of Northern Richmond, West Missouri City, West Stafford and the ever so popular Sugarland. Sugarland has been in the top ten best places to live in the United States for several years running. Through the end of July, Houston Homes Market area 29 posted 1001 closed sales with an average closed sales price of $268,991. The average closed price amounted to 95.58% of the list price and took only 59 days on market.
2. The number two Houston Homes Market area is MLS area 23 which comprises the Energy Corridor and a majority of the Memorial area. This area posted 417 closed sales at the end of July with a closed sales price of $771,286. This Houston Housing Market area had a closed sales price to list price of 96.19% and did it in only 64 days on the market.
3. Number three on the list was MLS area 36 which is comprised of South Katy and West Westheimer. This Houston Homes Market area notched 1618 closed sales with a closed home sales price of $254,193. The closed sales price to list price at the end of July was 96.41% and had a average days on market of 64.
4. The number four hottest Houston Housing Market area was MLS area 17 made up of Bellaire and Rice Village neighborhoods. This Houston Real Estate Market area hit 626 closed sales with an average sales price of $713,237. The average sales price was obtained in just 70 days on market with a list to close price ratio of 96.62%.
5. Coming in at number five for the hottest Houston Real Estate Market areas is MLS area 32 made up of Kingwood, North Atascocita and North Huffman. This Houston Homes Market area posted 657 closed sales with an average sales price of $221,012. This Houston Housing Market area had average days on market of 70 with a closed sales price to list price of 96.74%.
6. The sixth hottest area in the Houston Real Estate Market for 2008 was MLS area 15 comprising of The Woodlands and the Magnolia region. Area 15 posted a whopping 2209 closed sales through the end of July of this year with an average sales price of $292,352. The average days on market at only 73 and a closed price to list price of 96.43%.
7. Number seven on our list of the Houston Housing Market hottest areas for 2008 is the Spring Branch area known as MLS area 24. This Houston Real Estate Market area has had 443 closed sales through the end of July with an average home sale price of $230,065. The average days on market logged for this region was 74 with a list to sales price of 96.32%.
8. The Houston Homes Market eighth hottest area through the month of July was MLS area 10 made up in part of Cypress, Fairbanks and Jersey Village. This Houston Homes Market region had 1196 closed sales with an average sales price of $181,893. Area 10 had a closed price to list price of 96.74% and only 75 days on the market.
9. The Houston Real Estate Markets ninth hottest area was MLS area 20, best known as Bellaire South. Bellaire South logged a respectful 675 closed sales with an average sales price of $186,794. These numbers were posted with an average days on market of 75 and a closed price to list price of 96.35%.
10. The Houston Housing Market’s number ten hottest MLS area was 7 containing the suburbs of La Porte, Deer Park, Friendswood, Clear Lake and Seabrook. MLS area 10 had 1142 sales with an average sales price of $189,740 and had a closed price to list price of 96.89% and homes took only 76 days on market to close.
These 10 Houston Real Estate Market areas scattered across the Houston metro area can take credit in large part to the success the Houston Homes Market has had in weathering the mortgage crisis. Even though these 10 areas have posted the least length in the average days on market statistic, they are not the only areas showing strength in pricing during these troubled times. The average days on market for the Houston Real Estate Market have been quite phenomenal when compared to other United States Metro areas. The average time on market for the whole Houston area is still under 90 days with very few Houston Homes Market areas showing market times of beyond 120 days.
