Property values in the two square miles that make up the city of West University Place, now account for nearly 10% of the total property values in all of Harris County according to a new report from the West University Examiner.
The newspaper reports that the most recent property appraisals for West University Houston Texas real estate is valued at approximately $3.95 billion.
West University Place has experienced some of the strong appreciation in the city over the past decade.
“City Finance Director Walter Thomas said that residental property in West U accounts for the vast majority of the total property value. The $3.9 billion appraised value of the property in West U is ‘a pretty amazing number’ . . . The average value of a West U house last year was $649,000 ‘With these numbers, it’s going to be $713,900,’ Thomas said.”
RISING VALUES IN WEST UNIVERSITY
(total appraised property value for the city per year)
2000: $1.75 billion
2004: $2.5 billion
2006: $2.9 billion
Current year: $3.95 billion
GET ADDITION DETAILS – THE 2008 HOUSTON REAL ESTATE REPORT
In an effort to provide a more in-depth look into the housing market in Houston, the 2008 Houston Real Estate Investing Trends report analyzed over 10,000 single family home sales in the Central Houston area since 2002.
West University Place and surrounding communities (including Collegeview, Southampton, and Sunset Terrace) experienced some of the best appreciation in the Houston area.
