Mv - Memorial Villages Magazine

Despite an incredibly challenging year for the people of planet Earth, Houston’s economy, and especially our real estate market, have remained amazingly resilient and optimistic. Single-family home sales in 2020 surpassed 2019’s record volume by more than 10 percent, even as the supply of homes withered to the lowest levels of all time.

COVID helped push our real estate market from several angles. People now spend more time working and schooling from home, so they want more space – a home office, a game room, an outdoor living area, and a pool for the kids. More people and companies are moving to Texas than to any other state except for Florida. Hewlett Packard recently relocated to Houston from Silicon Valley. A strained economy is keeping interest rates at record lows. It all adds up to more home sales.

The outlook for home sales in 2021 is favorable as January and February have already proven to be much more active in online traffic and person showings than the last few months of 2020. We could be on track for another record year of home sales.

Memorial Villages Real Estate Report

by Genevieve Rowland

Idyllic Historically speaking, The Memorial area has always been one of the most desirable areas in Houston to live and invest in real estate. It has retained its value through Houston’s good times and bad and has been a haven for families and businesses since the 1950’s. As an example, my grandparents bought a home off Memorial Drive back in the 50’s for $55,000 before Loop 610 was built. They sold their home in the 80’s for around $450,000. The lot alone is now worth almost $2 million dollars!

Boasting picturesque tree-lined streets, award-winning schools, acclaimed restaurants, shopping, and some of the best medical facilities in the world, its location is ideal for those wanting a short commute to all points in Houston while giving the feeling of living in a secure and heart-warming small town. Having grown up in the area and attending Hunter’s Creek Elementary, where my Aunt Genevieve also attended, it was one of the happiest times of my life biking up and down the safe streets, playing in the parks, and exploring the trails along the creeks and bayous. This is most certainly evident in all of The Villages that make up part of the area: Hunters Creek, Piney Point, Hedwig and Bunker Hill. These neighborhoods have minimal commercial intrusion with many lots ranging from ½ acre to 3-4 acres each. Regardless of your style, familial status, or working situation, there is something here for everyone. According to HARMLS, there were 180 sales of single

12315 Woodthorpe

Coming Soon!

family homes in 2020 throughout the 4 villages South of I-10, with a low of $585,000, a high of $6,300,000 and an average of $1,959,822 ($363.42/SF) with an average size of 5,383 sqft. Only 55 of these homes were built since 2000. New construction is most prevalent in the area, but there are still many ranch, traditional, colonial and contemporary style homes that have been or will be remodeled by their new owners. The Luxury market this year amazingly strong. According to HAR (Houston Association of Realtors) on Feb 10th, home sales skyrocketed 27.7% year over year to 6088 in January. The year over year increase in luxury sales over $750K was 73.9%!!! Low interest rates, people wanting more from their homes with the changing working environment, savings due to lack of travelling, and experience real estate advisors, have all helped contribute to the success. People demand more in their homes now more than ever, and The Villages can most certainly deliver!

Modern Meets Resort

12315 Woodthorpe | Memorial Hollow List Price $1,295,000 | Coming Soon

Zoned to Memorial HS, this 5/2.5 Mid-Century Modern meets Resort Spa boasts awe-inspiring architecture and new luxurious designer appointments at every turn: Resort pool & outdoor living, Home office w/private entrance, custom cabinetry, wine room, chef ’s kitchen, & more. Genevieve Rowland | Keller Williams Memorial | 281-904-7014