5 Key Avalon Place Real Estate Trends
Avalon Place is an affluent Inner Loop neighborhood composed of 7 sections. It is the 7th most expensive Houston neighborhood, and one of the most desired in the vicinity of River Oaks.
Aside from its central location, Avalon Place has easy access to the most popular recreational venues in Houston.
While there are a number of new constructions, the neighborhood is more known for its elegantly restored older homes. Avalon Place homes sit on very spacious lots with a median lot size of over 9,300 square feet.
As with the rest of Houston, the neighborhood has a very limited inventory. The following are 5 Key Avalon Place Houston real estate trends that may help homebuyers understand this challenging market.
For questions, advice, Avalon Place Houston real estate recommendations, or off-market MLS listings, contact Paige Martin, head of the Houston Properties Team and rated as the best Keller Williams Memorial realtor the last four years.
Avalon Place Houston Resources:
For an updated and customized Avalon Place real estate pricing or trend analysis, please contact Paige Martin at [email protected].
5 Interesting Avalon Place Real Estate Market Trends
1. Avalon Place homes’ appreciation have become slower in the past 5 years.
The median sales price of Avalon Place homes increased by 46% from $772,500 in 2004 to $1,127,500 in 2009. This is substantially higher compared to the 11% increase from 2009 to $1,251,500 in 2013.
2. Avalon Place homes have greatly appreciated in the past decade.
Despite the slower appreciation rate in the last 5 years, the Avalon Place real estate market have greatly appreciated in the last 10 years. From $772,500 in 2004, the median sales price have increased by 62% to $1,251,500 in 2013.
3. Home values of Avalon Place homes tend to fluctuate.
The average price per square foot of Avalon Place homes have fluctuated in the past decade. However, this is not an indication of unstable property values.
New constructions and homes that get sold with substantial updates tend to increase these figures, while older homes that are sold as is tend to decrease it.
4. Property values significantly grew in the last 10 years.
The increasing number of Avalon Place homes that have been restored and renovated have greatly affected property values. From $228 per square foot in 2004, the average price per square foot have increased by 52% to $347 in 2013.
5. The Avalon Place Houston real estate inventory continues to be very limited.
In the past decade, only 10 to 16 homes get sold each year despite the large demand for Avalon Place homes. It is also worth noting that the number of homes sold per year decreased by 38% in the last 5 years.
Avalon Place Houston Realtor – Paige Martin
As featured on Fox News in the Morning, the Houston Business Journal, Houston Chronicle, and Houston Magazine, Paige Martin – a consistent Top Producing Broker-Associate and head of the Houston Properties Team – is ranked amongst the very top Keller Williams agents in the Houston area.
Paige is ranked as one of the top realtors in Avalon Place Houston, and the state of Texas. Read more about the over 65 awards she’s won in the last few years.
Paige works with a tremendous number of buyers and sellers in Avalon Place.
For a specific recommendation of neighborhoods, homes or properties based upon your personal style, goals & price point, please contact Paige Martin, head of the Houston Properties Team & Broker Associate at [email protected] or 713-384-5177.
