Houston holds the 4th place in the US for new listings.

Last month, Houston experienced one of the most significant upticks in new listings nationwide.

Realtors introduced 11,088 properties to the MLS in October, marking a 13% year-over-year increase and securing the city's fourth-highest growth rate in the country.

Despite this noteworthy boost in local inventory, home sales in the greater Houston area witnessed an 8.5% decline compared to the previous year. The average time for a home to sell was 39 days, five days faster than the same period in November of the previous year.

In October, the median sale price also saw a decrease of 0.6%, settling at $328,000. This figure is notably lower than the national median sale price, which stands at $410,000.

Check Out Houston's Top 10 Neighborhoods

Montrose -  Midtown  -  Downtown  -  Museum District  -  Houston Heights

River Oaks  -  West University Place  -  Memorial  -  Bellaire  -  Spring Branch

Developers have chosen architects for The Ritz-Carlton Residences in The Woodlands

Following the October announcement of the forthcoming development, Howard Hughes disclosed on Nov. 15 that it has enlisted the services of the renowned architecture firm Robert A.M. Stern Architects to oversee the project's design.

Comprising 111 private residences available for purchase, this development is touted as the inaugural standalone Ritz-Carlton branded residences in Texas. Howard Hughes has also released conceptual renderings showcasing elements of the project, featuring a façade constructed from Texas limestone and a prime location with views overlooking Lake Woodlands.

In a press release, the design is characterized as being influenced by the architectural style of Texas estates designed by John Staub, renowned for his work on private estates around the River Oaks Country Club.

In expressing their design philosophy, Robert A.M. Stern, the founder and senior partner of the architecture firm, stated, “We strive to be meticulous in our craft and have developed a reputation for our modern interpretations of traditional building styles and projects that use time-honored materials, which will be on display throughout The Ritz-Carlton Residences, The Woodlands.”

Paul Whalen, a partner at Robert A.M. Stern Architects, highlighted the fusion of classic East Coast and Southern residential styles with the more laid-back Texas lifestyle, drawing parallels to the approach taken by Staub in creating a unique architectural style for his adopted home.

Key details of the project include its 15-story structure situated on 8 acres along Lake Woodlands, ensuring each private residence offers a scenic view of the lake. The exterior design will showcase Texas limestone and metal accents, creating a vertical neighborhood with varying heights and symmetries reminiscent of historical structures developed over time. Additional features include a curved and landscaped motor court, French-inspired gardens, and a base designed to evoke the charm of a classic Texas townhouse.

Douglas Elliman Development Marketing has been appointed as the sales and marketing firm for the project, according to the news release.

Best neighborhoods to live in The Woodlands

Sterling Ridge - Cochran's Crossing - Creekside Park - Indian Springs - Alden Bridge

East Shore

Houston Farmers Market's

GingerBread Lane

Embrace the holiday spirit with a touch of sweetness at the Houston Farmers Market as GingerBread Lane takes center stage. Delight in "The 12 Days of Texas," an enchanting gingerbread display showcasing whimsical houses and intricately crafted sculptures inspired by the Lone Star State.

Beyond enjoying the gingerbread village, guests are warmly welcomed to partake in the GingerBread Lane workshops. Here, participants can discover the art of crafting their own whimsical gingerbread creations under the guidance of Jon Lovitch, the visionary behind GingerBread Lane and a Guinness World Record-holder for creating the "largest entirely edible gingerbread village."

Event Dates: November 17, 2023 | 8:00 AM

November 18, 2023 | 8:00 AM

November 19, 2023 | 8:00 AM 

Location: The Houston Farmers Market 2520 Airline Dr, Houston, TX 77009

Houston Soars as a Top Place for Houses and Shops!

Houston is once again proven to be a great place for homes and stores, according to a new study. Moving up three spots from last year, Houston is now ranked No. 11 out of 80 cities on the list of the best places for houses and shops. The list is part of a big report that looks at what's happening in real estate, called "Emerging Trends in Real Estate in 2024."

The report talks about many things affecting the real estate market, like the chance of a recession, interest rates going up, and people working from home more. Houston's offices and places where many families live are facing some challenges that other big cities are facing too.

Even though Houston had some problems in the last few months, it's still considered a top place for real estate. One reason is that it's not too expensive for people to buy homes there. According to a study, Houston's housing costs are the second cheapest among big cities in the U.S.

Houston's stores are also doing well. More people are going back to regular, in-person shopping after the pandemic, and that's helping the stores in Houston. In the last year, Houston's stores used up 3.2 million square feet of space, and there's even more space being worked on.

Not just that, Houston is also ranked No. 7 on another list in the report. This list looks at places where many new homes are being built. Houston is doing well because more and more people are moving there, and there are lots of new jobs.

So, even though Houston had some tough times, it's still a really strong and tough place for houses and shops. The rankings show that Houston is one of the best places for real estate.

Check Out Houston's Top 10 Neighborhoods

Montrose -  Midtown  -  Downtown  -  Museum District  -  Houston Heights

River Oaks  -  West University Place  -  Memorial  -  Bellaire  -  Spring Branch

Texas Voters Approve Proposition 4 - Tax Cut

• Texas homeowners and businesses are getting a tax cut.
• The tax cut is worth $18 billion.
• Most of the tax cut is aimed at lowering school district property taxes, which are a big part of property tax bills in Texas.
• Voters in Texas approved this tax cut with 84% of the votes.
•   
• School districts will get $7.1 billion to lower their tax rates, which will help reduce taxes on things like teacher salaries.
• Homeowners will see their homestead exemption increase from $40,000 to $100,000, which means they won't have to pay taxes on that part of their home's value.
• Homeowners can save more than $2,500 in taxes over the next two years, with bigger savings for seniors.
• Texas is known for not having a state income tax, but property taxes in the state are high.
• The tax cut also includes a limit on how much certain businesses' property values can grow each year, helping them save on taxes.
• Some businesses won't have to pay the state's franchise tax.
• People in some places can now choose who runs their local appraisal district, which decides how much your property is worth.

Houston's Hottest Communities in Q3 2023

The Houston Association of Realtors (HAR) recently released a report ranking the region's hottest communities in Q3 2023. The report, which utilized data on average sales price and number of transactions, found that the suburbs are dominating the market.

The top-ranked community was Fulshear/South Brookshire/Simonton, located in Fort Bend County, with an average sales price of $506K and a 56 percent increase in the number of transactions year-over-year. Homes in this community sold in an average of 40 days.

Five of the top-10 slots were occupied by communities with average sales prices well below the Houston average of $417K. These communities were:

• Santa Fe
• Tomball
• Sugar Land North
• Huffman
• Denver Harbor

Denver Harbor, in particular, saw a whopping 38 percent increase in the number of transactions year-over-year, with homes selling for an average of $283K.

The report also analyzed which "luxury" neighborhoods, with homes priced $1M and above, are among the market's highest-performing. The top-ranked neighborhood in this category was Rice University / Museum District, with an average sales price of $1.1M and a 25 percent increase in the number of transactions. Other neighborhoods in this category included River Oaks, Tanglewood, and Bellaire.

• Fulshear/South  Brookshire/Simonton
• Santa Fe
• Tomball
• Sugar Land North
• Huffman
• Denver Harbor
• Rice University / Museum District
• River Oaks
• Tanglewood
• Bellaire

Conclusion

The Houston housing market remains hot, with the suburbs leading the way. Buyers are drawn to these communities for their affordability, amenities, and proximity to the city. The luxury market is also performing well, with buyers looking for homes in established neighborhoods with good schools and access to parks and recreation.

26% Of Houston Homes For Sale Are NEW CONSTRUCTION

There are two reasons for this. First, builders are building more new houses. Second, people who already own homes are staying in them longer because they have low mortgage rates.

People who are still able to buy houses are more likely to buy new ones because builders are offering them deals, like lower mortgage rates.

Home sellers have to compete with builders, who are sometimes offering buyers up to $30,000 in deals. With that much money, buyers can cover the cost of closing on the house, make upgrades, and get a lower mortgage rate. In some cases, people who bought a house from a builder a year ago are now selling it and competing against that same builder for buyers!

Check out New Construction Homes For Sale In HOUSTON

Houston New Construction UNDER $300K    $300K - $600K    $600K  -  $900K     $1,000,000 +

Montrose - Halloween 2023 Houston Tx

Texas has the most new homes built in the United States since 2010

Nearly a quarter (22.5%) of all occupied housing units in Texas were built since 2010. This is more than any other state in the country.

Texas' high new home construction rate is not surprising, as the state has gained the most new residents between 2000 and 2022.

The top 10 states with the highest new home construction rates are:

1. Texas (22.5%)
2. North Dakota (20.74%)
3. Utah (20.65%)
4. Idaho (20.01%)
5. South Carolina (19.75%)
6. North Carolina (18.17%)
7. Nevada (16.74%)
8. Delaware (16.49%)
9. Colorado (16.30%)
10. Tennessee (15.73%)

Houston has the highest new home construction rate in Texas, with more than 23,000 new home permits issued as of June.

Texas' high new home construction rate is a sign of a strong economy and a growing population.

Check out New Construction Homes For Sale In Houston Texas

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