Impact Of Hurricane Harvey To The Houston Real Estate Market

HOW HURRICANE HARVEY AFFECTS THE
HOUSTON REAL ESTATE MARKET
Based on historical data, we looked at Harvey’s possible impact to the Houston housing market. Plus, see condos and neighborhoods that didn’t flood.

Photo: Reddit Houston

Our heart goes out to everyone affected by Hurricane Harvey. If you or your family experienced flooding, please read these Hurricane Harvey Resources & Clean Up Tips.

If you’re a real estate investor or are considering a purchase now, please keep reading. We’ve received over 30 inquiries about this topic in the last several days and have tried to provide a comprehensive overview below.

As most people know, you make most of your money in real estate at the time of purchase. It is likely there will be some value opportunities arise over the next few weeks.

We have a database of over 100 neighborborhoods and 115 condos in Houston. We have been working with other agents of the HoustonProperties.com team to actively map out specific subdivisions and buildings that did well (and those that did poorly). We have listed the areas and buildings that were largely unaffected by flooding below.

If you’re looking at specific homes or buildings and want to confirm if the property is in a flood zone, please email the HoustonProperties.com team.

 

“Paige Martin is the best Realtor. She is highly experienced and very knowledgeable. She made our buying experience an enjoyable one, not only for us, but for our daughter, son-in-law and several of our friends. We have bought and sold many houses, and Paige has been the best realtor we have ever worked with. We highly recommend her.”

Jeremy & Lynn Greene

NOTE: Based on our calls and outreach, we have compiled a list of the condo buildings and areas that flooded and those that did not (below). If you have any information we can add or anything that appears wrong, please email us, and we’ll update this page.

Get The Houston Neighborhood Guide in PDF

Get the full 58-page Guide To Houston’s Best Neighborhoods in an easy-to-read Adobe Acrobat format. Save to your desktop or read on your mobile.

Houston Flooding

Based on what happened during the last hurricane, here’s likely what the Houston real estate market will likely look like for the next few months. There will likely be a:

  • Major spike in rentals (especially short term rentals).
  • Spike in activity in condos (see the benefits of living in a Houston condo).
  • Spike in interest in homes and neighborhoods that did not flood (details below).
  • Massive decline in sales in areas that flooded.

Generally speaking, it is a good time to be a buyer as there will be less buyers in the market, due to several main reasons:

  • Some buyers were impacted by the flooding, are not able to carry two mortgages, and they will need to fix their home before they can sell it (or consider moving).
  • Some buyers did not have their home impacted, but their business, family or friends were. As such, they’re unable to consider making a move now.
  • In addition, a group of buyers will pause and not do anything, out of general concern and uncertainty.

There are also typically a number of deals that come on the market after a natural disaster like this. They are rare in non-flooded areas, but they often come from the following type situations:

  • Vacant homes (especially if the buyer lives out of the area or out of state).
  • Homes where the buyer is willing to take on work (renovations / repairs / etc.) Note: this has a financing implication as these would need to be covered out of pocket.
  • If builders are close to their lines of credit or had inventory that fared poorly, they may be willing to discount or provide more allowances on their new construction inventory as they’ll need more cash flow.

Also, we spend a lot of time studying the data on long term trends (see page #3 of our Houston Real Estate Investing Trends Report – email me for a copy). As we’ve clearly seen this past week, close in homes in the flood plain (or too close to the floodplain) can be hugely impacted in a negative way. This situation is a good reminder for buyers about the importance of buying a quality home in a quality location. While that doesn’t prevent a disaster, most of the Houston close in areas that flooded were in the known floodplains.

HOUSTON NEIGHBORHOODS WITH LITTLE TO NO FLOODING

Houston Flooding

We started by focusing on the 52 Houston neighborhoods from: Houston’s Best Neighborhoods: Where Can I Afford To Live and have added neighborhoods by request.

If you have specific questions or updated information, please email us.

Neighborhoods And Communities That Did Exceptionally Well:

(Defined as no known flooding problems.)

Neighborhoods And Communities That Did Quite Well:

(Defined as water on the street, but no known home flooding problems.)

Get More Details

Paige Martin

Our Recent Awards

Why We’re Different

  • #1 Keller Williams Realtor in Houston
  • #1 Keller Williams Realtor in Texas
  • #9 Keller Williams Realtor in the U.S.
  • "One of Houston's Top 25 Realtors," Houston
    Business Journal
  • "One of America's Best Realtors," RealTrends.com / WSJ
  • Over $250 Million in Houston residential home sales
  • We know this market, and this property.
  • We're candid.
  • We'll tell you the "bad' and the "ugly" about any property we show you.
  • Most often, we talk our clients into NOT BUYING.
- Gretchen & Brad Richter- Gretchen & Brad Richter
“We relocated to Texas from out of state 3 years ago, and Paige’s intimate knowledge of Houston neighborhoods, valuations, trends, and pitfalls was simply unmatched. We would never have been able to find our perfect home without her. She was calm and focused when everything seemed most challenging — a true professional and advocate who has become a dear friend. We are grateful to have met her!

Read More

- Peter McGillivray & Jillian Jopling- Peter McGillivray & Jillian Jopling
“Paige demonstrated all qualities you want in a realtor – knowledgeable, attentive, responsive, patient. She put us into our first dream home, and due to that experience, we’ve returned to her time and again for our other real estate needs. You will quickly realize after working with Paige that while she focuses on completing your deal, her endgame is to ensure her clients’ needs are preserved and satisfied.

Read More

- Gail & Ian Mackey- Gail & Ian Mackey
“As first time buyers in the US, we are delighted to have worked with Paige. She is a delight to work with, and I would recommend anyone to enlist her help if you’re looking to either buy or sell a property.

Read More

- Dr. Jen Shroff- Dr. Jen Shroff
“Paige is simply the best. She was patient with us throughout the process and took time to answer all of our questions! She knows so much about the housing market so we felt very confident that we were in great hands!

Read More

- Travis LeConey- Travis LeConey
“Paige has helped my wife and I twice now. I couldn’t think of a better person to have in your corner when buying or selling! She guided us through the process, and made it seem so easy that selling/buying was fun! Paige is a great person, very responsive, and great at what she does. I recommend Paige to all my friends and co-workers. If you are buying or selling in the area Paige covers, give her a call. You won’t regret it!

Read More

- Xavier Refunjol- Xavier Refunjol
“Paige is dedicated, thorough and caring to where you feel you’re their only client. Their best asset is their honesty, based on experience and data. We had a great time buying our first home largely because of them. We would not hesitate to recommend them to anyone.

Read More

- Taylor Lamb- Taylor Lamb
“Paige was wonderful to work with. She was thorough, knowledgeable and patient. I would highly recommend Paige to anyone looking to buy or sell a home.”

Read More

- Jeremy & Lynn Greene- Jeremy & Lynn Greene
“Paige Martin is the best Realtor. She is highly experienced and very knowledgeable. She made our buying experience an enjoyable one, not only for us, but for our daughter, son-in-law and several of our friends. We have bought and sold many houses, and Paige has been the best realtor we have ever worked with. We highly recommend her.

Read More

- Dr. Forrest Roth, MD- Dr. Forrest Roth, MD
“Paige is the best of the best when it comes to real estate! She has bought & sold many properties for us & we couldn't recommend her more highly!

Read More

- Tina Spiller, Chevron- Tina Spiller, Chevron
“I really enjoyed working with Paige on the sale of my townhome. The HAR listing was perfect and went up quickly and the sale was closed within 30 days. I definitely recommend Paige for any real estate transaction.

Read More

Read 100+ Testimonials: LinkedIn for the Best Houston Realtor

What We Can Do For You

CANDID ADVICE

Our promise is to always give you the most candid advice on any property, to help you make the best decision for your family.

EXPERTISE

Having sold over $250M of Houston homes, we've seen the good, bad & ugly and can help you avoid problems.

GREAT DATA

We built a proprietary data analytics package to help give you the best information on any neighborhood, building or home.

NETWORK OF EXPERTS

Built over fifteen years, our network of experts can help you through each step of the process plus help making living in your new home more enjoyable.

Latest Houston Real Estate Stories

Read more Houston real estate updates

Back to Top