Montrose Real Estate Market Condition Report – January 2008
Originally pronounced as if it were two words, that is, “Mont Rose”, the Montrose real estate area is generally bound by Highway 59 to the south, Allen Parkway to the north, Bagby Street on the east and Shepherd to the west. It is a neighborhood located near the downtown area of Houston, Texas. The Museum District is located in the southern portion of Montrose. You will find that many bars & restaurants, thrift/vintage/second-hand shops, eclectic boutiques and small galleries maintain the unique flavor of this part of the city.
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 displaying renovated mansions, bungalows featuring 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.
The Montrose area residents continue to enjoy increased property values as reflected in the following data provided by the Houston Association of Realtors (HAR). There were 121 single family homes sold in 2007. Prices ranged from $105,000 to $890,000; averaging $171.51 per square foot.
There were 167 town house/condos sold in the Montrose real estate market area during this same period. Prices ranged from $43,000 to $646,000 for an average of $135.77 per square foot.
Currently there are 59 active available single family homes for sale in Montrose. List prices range from $249,000 to $1,075,000 and 13 properties pending sale with prices ranging from $240,000 to $575,000.
There are 102 active available town house/condos in the Montrose market area. Prices range from $87,500 to $749,900. Twenty (20) properties are reported as pending sale. The prices range from $80,000 up to $369,900.