River Oaks real estate has been one of the best performers in the Bayou City over the past decade.
River Oaks spans 1,100 acres within the Interstate 610 loop. It is Houston’s most expensive neighborhood and features some of the most luxurious homes for sale in the city.
63.3% of River Oaks’ home inventory are single-family homes while the rest is a mix of townhomes, luxury apartments, and condominiums.
River Oaks Houston Resources:
5 Interesting Trends: River Oaks Real Estate
1. Average price per square foot has almost doubled since 2004.
With a 41% increase in average price per square feet between 2003 and 2012, homes in The average price per square foot of River Oaks homes in 2004 is $290. In 2013, this has almost doubled to $448.
2. River Oaks land value has increased by 65%.
The land value of River Oaks properties in 2004 was at $59 per square foot. This has increased by 65% in the past decade to $97 per square foot in 2013.
3. Average price per square foot has steadily increased in the last 10 years.
The average price per square foot of River Oaks homes has increased by 14% in 2005, 20% 5 years later, and 54% in the past decade.
4. River Oaks homes’ median sales price fluctuated in the last decade.
In 2004, the median sales price of River Oaks homes was $1,317,606. In 2009, this has decreased to $1,220,000. It has consistently shown an upward trend since, with the median sales price now at $1,555,000.
5. The value of River Oaks homes has shown strength despite of the real estate market crash in 2009.
River Oaks is one of the neighborhoods in the country that was least affected by the real estate market crash in 2009. The average price per square foot only dropped by $12 per square foot in 2010.
