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    Real Estate Records

    Houston home prices hit an all-time high: Super hot real estate market on a 22-month roll

    Ralph Bivins
    Apr 16, 2013 | 2:44 pm

    Houston’s median home price hit its highest point ever in March, as the city’s strong economy and low mortgage rates fueled the market.

    At $172,000, the last month’s single-family home median price reached an historic high for Houston, the Houston Association of Realtors said. The March median price, which is the midpoint where half the homes sold for more and half for less, was up 6.5 percent from March of last year.

    By comparison, today’s median price of $172,000, is almost three times the median home price of $65,000 in 1980.

    There are indications that the supply problem may be easing as a larger number of homes have come on the market in April.

    Houston’s inventory of homes for sale — a 3.5-month supply — is the lowest since 1999. With demand high and supply low, home prices have nowhere to go but up in 2013.

    In many neighborhoods, homes are getting multiple offers the same day the for-sale sign goes into the front lawn.

    A total of 5,779 single-family homes were sold in March, the Houston Realtors group said, a 17 percent increase over March of last year. It extended a 22-month streak of gains in home sales for the super-hot Houston home market.

    “It’s the best we’ve seen in 30 years in this marketplace,” said Cheri Fama, president of John Daugherty Realtors of Houston.

    Custom home builders snap up tear-down lots in the Inner Loop, Memorial and Tanglewood areas as fast as they become available. Home builders paid more than $1 million for a number of prime lots in Tanglewood recently, Fama said.

    “Custom builders are back. They are building with a vengeance,” Fama said. Many builders are constructing “spec” homes, meaning they are starting construction without having a buyer lined up — and often these spec homes are priced at more than $1 million.

    Home prices have been going up at a steady and healthy pace, without rapid upward price spikes that are difficult for the market to support, Fama said.

    The Houston housing market is being elevated by significant job growth. Houston added 118,700 new jobs in the last year, the best job growth in the nation, according to the U.S. Bureau of Labor Statistics.

    “Realtors continue to see multiple offers on single-family homes and condos throughout the Houston market, which suggests that our local economy is growing stronger by the day,” said Houston Association of Realtors chairman Danny Frank of Prudential Anderson Properties.

    Buyers also have been motivated by exceptionally low mortgage rates of less than 4 percent, lower than they have been in decades.

    Houston’s tight supply of homes for sale has made the home-buying process difficult for buyers in certain areas because houses have been selling so quickly or sales prices get driven up in bidding wars. Buyers have to move quickly to get the house they want. Fama said there are indications that the supply problem may be easing as a larger number of homes have come on the market in April.

    Sales of townhouses and condominiums rose sharply in March — up 47 percent from one year earlier. A total of 550 units sold last month versus 374 properties in March of last year.

    Houston has one of the strongest housing markets in the nation and the surge is expected to continue for a while.

    Pakpao Thai in the Dallas Design District features the culinary talents of chef Eddy Thretipthuangsin.

    Short rib at Pakpao Thai restaurant in Dallas
      
    Pakpao Thai Facebook
    Pakpao Thai in the Dallas Design District features the culinary talents of chef Eddy Thretipthuangsin.
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    news/real-estate

    Post Oak property redeveloped

    Renovated Galleria development will add 'greatest neighborhood restaurant'

    Eric Sandler
    Jun 4, 2025 | 1:08 pm
    Central Park Post Oak redevelopment rendering
    Courtesy of Midway
    The complex will add two new buildings.

    A Galleria-area office complex has announced a comprehensive series of renovations and upgrades designed to make it one of the area’s premier mixed-use destinations. Renovations are currently underway at the Post Oak Central development, which will now be known as Central Park Post Oak.

    Located at 2000 Post Oak Boulevard between Westheimer and San Felipe, Central Park Post Oak is a 17-acre parcel that consists of three high-rise office buildings with a combined 1.2 million square feet of office separated by an expansive lawn. Houston-based real estate development firm Midway, working with real estate investment firms 3Edgewood and Parkway, plans to replace that lawn with two new retail buildings and a greenspace. The changes are partially inspired by the Post Oak Boulevard redevelopment project that added more than 1,000 trees, wider sidewalks, and dedicated bus lanes to the bustling thoroughfare.

    "Our vision is to create a dynamic, walkable urban destination that honors the Boulevard’s rich history while meeting the evolving needs of Houston's Uptown District. We are crafting a lifestyle for those who work, shop, and dine here," Midway executive vice president Clayton Freels said in a statement.

    One anchor of the new retail component will be the first Houston location of The Henry, a restaurant that will occupy a newly-constructed, 7,000-square-foot, jewel box space. Part of Fox Restaurant Concepts (North Italia, Flower Child), The Henry is described as “the greatest neighborhood restaurant.” It’s open for weekday breakfast, weekend brunch, lunch, and dinner with an eclectic menu that includes sandwiches, salads, sushi, steak, seafood, and more.

    Other changes to the property include the addition of on-street parking, upgrades to the complex’s parking garages, and more new retailers and restaurants that will be announced in the coming months. The project began construction in April with plans to finish by fall 2026.

    In addition, Midway announced that TDECU will occupy 125,000 square feet in Central Park One and BBVA has leased a floor (20,000 square feet) in Central Park Two.

    Central Park Post Oak redevelopment rendering
      

    Courtesy of Midway

    The complex will add two new buildings.

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