Meyerland Real Estate Market Condition Report – January 2008
Meyerland, a residential neighborhood in Houston, Texas is situated on the banks of the Brays Bayou at the outer southwest corner of Loop 610, just south of Bellaire. Just a 15-minute drive (or less) to downtown Houston, the Texas Medical Center, the Galleria, and the Reliant Park complex, the Meyerland community boasts excellent accessibility, beautiful parks, and strong community leaders. Meyerland real estate single family homes range in price from the mid $100,000’s (usually lot value) to the $1,000,000’s. Some of the homes are the original 1950s bungalows, while others are new construction occupied by homeowners who like Meyerland’s ease and convenience.
Meyerland is the concept of three generations of the Meyer family. In the late 1800’s, Joseph F. Meyer began buying land in the southwest part of the area surrounding Houston. Eventually he accumulated 6,000 acres for which he paid less than $5 per acre. In the mid-1950’s Joseph’s son, George, saw the possibilities of a prestigious subdivision. After his father’s death, son George took the 1,200 acres he inherited and created the subdivision neighborhood of Meyerland with 2,700 lots and an 80-acre reserve for a shopping center. George Meyer proceeded to develop homes that were affordable enough to attract middle America. Look magazine called Meyerland a “state-of-the-art neighborhood” while House and Home magazine claimed it was the “ideal plan for a subdivision”. Meyerland might be called Houston’s first planned community due to the fact that Meyer held to stringent deed restrictions and strong architectural controls for its development. Characteristic of Meyerland are brick, contemporary styled homes . . . each offering three to four bedrooms with two baths, which was an uncommon feature at the time they were built.
Meyerland Plaza Shopping Center was opened in 1957 as Houston’s second regional malland was managed by George Meyer’s oldest daughter, Leota Meyer Hess. The third generation of the Meyer family sold the center in 1984. After years of neglect, in the mid-90s it was purchased and renovated by a new owner. The revival of Meyerland Plaza brought 927,000 square feet of new shopping space to Meyerland and the plaza now includes a variety of 50 shops and restaurants, several of which opened spring 2005.
Meyerland has Houston Independent School District (HISD) Exemplary schools and is zoned to nationally acclaimed Bellaire High School. Zoned neighborhood elementary schools include Kolter Elementary School and Lovett Elementary School, both located in Meyerland. The neighborhood is also served by Johnston Middle School(located in Meyerland), Pershing Middle School(located in Braeswood Place), and Pin Oak Middle Schoolwhich is located in the city of Bellaire. Pupils zoned to Johnston or Pershing have the option to attend Pin Oak. Bellaire High School is located in the southern portion of the city of Bellaire.
The Houston Public Library system operates the Meyer Branch Library at 5005 W. Bellfort, which serves the Meyerland community.
2006 was a good year for homeowners in Meyerland as they saw 109 properties sold ranging in price from$197,000 up to $1,150,000 with an average sales price of $368,966 or $133.73 per square foot showing a definite upward trend. These figures are based on data collected from the Houston Association of Realtors (HAR).
Meyerland residents continue to enjoy increased property values as reflected in the following data provided by the Houston Association of Realtors (HAR). There were 89 single family homes sold in 2007 with prices ranging from $200,000 to $1,000,000 averaging $144.73 per square foot. The wide range reflects the new construction. However, the majority of homes are 3 to 4 bedrooms, 2 baths between 2000 and 3000 sq. ft.
Currently, there are 45 active available homes for sale in Meyerland with list prices ranging from $239,900 to $1,150,000. There are 8 properties pending sale with prices ranging from $288,000 to $925,000.