Market Conditions for Braes Heights in Houston, Texas

Reported by Meg & Jim Zoller and Susi McCauley of The Zoller Group of Keller Williams Realty, REALTORS

May 2008

May 2008


Home Sales in Houston’s Braes Heights

Sales in this subdivision can be largely broken down as follows: 1)Older homes with few if any updates which are mainly worth lot value 2)Older homes which have been remodeled 3) New or recent construction.

According to information that I reviewed on Houston Association of REALTORS Multiple Listing Service, there are currently 15 single family residential homes on the market priced from $410,000 for a “lot value” home on a 9375 sq. ft. lot to an under construction 5 bed/4 full-2 half bath, 5203 sq. ft. home on a 7654 sq. ft. lot, priced at $1,395,000. The average asking price per square foot is $230.78. As of 5/21/2008, there are 10 homes under contract pending sale.

In April 2008, 11 homes sold at an average of $207.54 per sq. ft. The lowest sale of $368,000 was for a home on a 7631 sq. ft. lot being sold for the land value. The highest sale was a 2003 built, 6 bed/ 4.5 bath, 5520 sq. ft. home on a 7613 sq. ft. lot sold for $1,000,000.

ZIP Code: 77025

Location Characteristics of Braes Heights in Houston, TX

Braes Heights is a Houston, Texas subdivision of mostly single family homes located inside the 610 Loop, west of the Texas Medical Center and south of West University and Southside Place. It’s street boundaries are roughly Holcombe to the north, North Braeswood to the south, Stella Link to the west and Buffalo Speedway to the east. It is part of Braeswood Place which is composed of seven subdivisions: Ayshire, Braes Heights, Braes Oaks, Braes Manor, Braes Terrace,Emerald Forest, and Southern Oaks. It was built in the 1950s and is now mainly composed of the older ranch style homes and new construction homes. There has been much new construction in the last 10 years-mostly 2 story homes from 3200 to 5500 sq. ft.

Recent developments are a library, YMCA, Sheltering Arms senior citizens facility headquarters, McGovern Park ballfields for children, Helen’s Park and Beal Park. Braes Heights is zoned to Mark Twain Elementary (recently built), Pershing Middle School(recently built) and Lamar High School. Children in Braes Heights are placed in the West University Little League. Braes Heights is part of the Braeswood Place Homeowners Association.

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