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.