Real estate report

Here's how much Houston home prices have jumped in just 5 years

Home prices in Houston are going up, but not as fast as other North American markets.

Photo courtesy of SWRE Real Estate Services

Houston is one of the most buyer-friendly housing markets in the country, but that doesn't mean home prices are stagnant. In fact, local home prices have seen a double-digit increase in recent years, according to a new report.

Real estate news site Point2 Homes reports that from December 2013 to December 2018, Houston's median home price increased from $188,500 to $240,000, a 27 percent jump that equates to an additional cost of $51,500. And while that may seem steep, Houston actually had the third lowest home price growth of the Texas metros studied and 16th lowest in North America.

Neighboring Fort Worth outpaced the rest of the state and was one of 18 North American cities with a price jump over 50 percent (in all, 83 metros were reviewed). The median home price in Cowtown grew 52 percent, from $148,000 in December 2013 to $225,000 in December 2018, a $77,000 jump.

By comparison, other Texas metros saw relatively modest growth. Austin had a 33 percent jump ($226,000 to $301,391), and San Antonio saw a 32 percent increase ($171,400 to $226,200). Dallas had the second lowest home price growth among the Texas cities studied, with a median home price increase of 24 percent ($229,900 to $285,000). At 12 percent, El Paso had the lowest median home price growth in the state (from $137,650 to $154,000).

"Compared to just five years ago, 40 cities in the U.S., 31 in Mexico, and 10 in Canada have seen significant home price hikes, putting considerable strain on the average homebuyer. With more and more people opting for a connected, urban lifestyle, and with the younger generation’s desire to reduce commute time, demand for urban housing is skyrocketing," the report says.

Detroit topped the North America list with a surprising 97 percent increase in home price but a net increase of only $30,143. San Francisco, however, saw the highest net increase: a staggering $550,000 price increase in just five years.

home-for-sale lists rankings reports texas trends

on the market

Galveston's largest condo offers stunning Gulf views, listed at $2.95M

Photo courtesy of Nan & Company Properties

801 E. Beach Drive offers beachfront elegance.

The largest condo on Galveston island — complete with panoramic sea views and five bedrooms — is on the market. 801 E Beach Drive (Unit 2001) is priced at $2.95 million, and represented by Zuleima Cossio of Nan & Company Properties.

The approximately 3,800-square-foot, 20th floor residence feels like a spacious beach home in the sky, making it perfect for those who want space for family and friends. The residence’s design merged two premium floor plans in the oceanfront high rise, resulting in a spacious layout that includes five bedrooms, each with a private bath, and soaring 10-foot ceilings.

Its four expansive balconies total 805 square feet and offer uninterrupted views of the bay and the Gulf. The kitchen features Costa Esmeralda granite, custom cabinetry, and curated lighting. Those who like to host guests will appreciate the condo's coffee bar, wet bar with a Sub-Zero dual-control wine fridge, and undercounter beverage drawers.

Spacious dining and living rooms also ensure plenty of room for entertaining.

The condo delivers the feel of a generous beach home while providing the ease and amenities of a luxury, maintenance-free coastal lifestyle. Owners and their guests will love the ability to hit the beach or spend an afternoon by the high-rise’s private pool.

Those who are in the market for a spot that provides elegance, ample entertaining and living space, and beautiful views will be intrigued.

Photo courtesy of Nan & Company Properties

801 E. Beach Drive offers beachfront elegance.