Houston Rice Military Area Home Values: 5 Interesting Value Trends

Rice Military townhome for saleHouston’s Association of Realtors’ (HAR) 10-year report reveals Rice Military as one of the strongest real estate markets in Houston. Rice Military’s 142% 10-year growth in home sales is among the highest in the city.

Rice Military homes are selling well due to their location and affordability. Rice Military is right at the heart of Houston’s Inner Loop, 5-10 minutes away from exciting Houston hubs like Downtown Houston, Montrose, Galleria and Museum District.

Rice Military is also one of few Inner Loop neighborhoods with homes available in the $400,000 to $500,000 price point.

The Rice Military Real Estate Appreciation Report below outlines the neighborhood’s home sales numbers the last 10 years. Here are 5 exciting Rice Military real estate trends.

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Rice Military Real Estate Appreciation Trends

5 Fantastic Figures From Rice Military Real Estate Trends

1. Rice Military total home sales jumped to 142% the last 10 years

Rice Military had a total of 360 homes sold last year, more than twice the number of homes sold (149) 10 years ago. Very few Houston neighborhoods broke the 100% mark, making Rice Military’s 142% home sales truly remarkable.

2. Rice Military homes’ average price per square feet consistently rose year-over-year since 2003

From $134 in 2003, Rice Military homes’ average price per square feet rose to $166 last year. Ave. price/square feet increased by 9% the last five years, from $155 to $166.

3. Rice Military homes median sales price jumped by more than 30% the last decade

Rice Military homes’ median sales price jumped by 33% from 2003 to 2012. In dollar volume, this is equivalent to an increase of roughly $90,000.

4. Sales of Rice Military real estate surged to 54% last year

With 360 homes sold last year, Rice Military total home sales netted a 54% increase from the 234 homes sold in 2011. This makes Rice Military one of 2012’s best performing markets in Houston.

5. Trends project a strong 2013 for Rice Military real estate

Monthly HAR records show a consistent month-by-month growth in Houston home sales. 2013’s first-half numbers have already broken last year’s already strong figures. This bodes well for Rice Military homeowners as increasing home sales is often tied up with real estate appreciation.

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