March 2010 Market Report from Fine Home Houston blog

Meg Zoller of the Fine Homes Houston website recently blogged a market report for March.  Click here to view the complete blog detailing many Houston neighborhoods, or read below for the Montrose excerpt:

MONTROSE, HOUSTON, TX HOME SALES – MARKET REPORT – MARCH 2010

MONTROSE AREA BOUNDARIES IN HOUSTON, TX

The Montrose area in Houston, TX is generally bound by Highway 59 to the south,  Allen Parkway to the north, Bagby Street to the east and Shepherd to the west; Montrose market area boundaries expand beyond the subdivision.

Originally pronounced as if it were two words, that is, “Mont Rose”, Montrose is generally bound by Highway 59 to the south, Allen Parkway to the north, Bagby Street on the east and Shepherd to the west. The Museum District is located in the southern part of Montrose and many bars & restaurants, thrift/vintage/second-hand shops, eclectic boutiques and small galleries maintain the unique flavor of this part of the city.

DISTINCTIVE CHARACTER OF MONTROSE

Initially envisioned as a planned community and/or streetcar suburb and dating back to the early 20th Century, Montrose comes with the most distinctive character of eccentricity and diversity in Houston.It is one of the prettiest areas with renovated mansions, bungalows with wide porches and cozy cottages lining shady boulevards where people can walk and cycle easily. There is even a small pocket of homes called Courtland Place where all of the houses are listed in the National Historic Registry. Other surrounding neighborhoods include Westmoreland, Avondale and Cherryhurst, all generating a Southern, cozy atmosphere. Townhouse/Condos and Lofts are very prevalent in the Montrose area as well.

MONTROSE HOMES SALES IN HOUSTON, TX – MARKET REPORT –  MARCH 2010

Based upon information gathered from the Houston Association of Realtors there were 5 single family homes sold in the month of February in the Montrose market area ranging in price from $279,000 to $710,000 for an average price per square foot of $179.35. There were 9 town house/condos sold in the Montrose market area during this same period with prices ranging from $60,000 to $350,000 for an average of $130.63 per square foot.

Currently there are 79 active available single family homes for sale in Montrose with list prices ranging from $220,000 to $1,375,000 and 12 properties option pending, pending continue to show and pending sale. There are 85 active available town house/condos in the Montrose market area with prices ranging from $83,500 to $899,000 and there are 18 properties in various stages of the pending process.

Montrose market area residents continue to enjoy stable property valuesas reflected in the following data provided by the Houston Association of Realtors. There were 4 single family homes sold in January 2010 with prices ranging from $264,500 to $550,000; averaging $169.70 per square foot. There were 7 town house/condos sold in the Montrose market area during this same period with prices ranging from $97,000 to $312,000 for an average of $133.71 per square foot.

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