instant classic

Timeless River Oaks new-build blending art deco and Old Hollywood styles hits market for $9.85 million

In the heart of one of Houston's most exclusive enclaves sits 3452 Ella Lee Lane. The River Oaks home, which blends art deco, midcentury, and Old Hollywood styles, is on the market for $9.85 million, represented by Kellie Geitner of Martha Turner Sotheby’s International Realty.

The four-bedroom, six-and-a-half-bathroom home is a brand-new, 2023 build, with custom-designed features throughout. Double front doors with exquisite brass handles beckon guests and residents into the the grand foyer with blonde woods and white walls, which accentuate the stunning light that fills the home.

A smoked antique mirror anchors the formal living room, a conversation piece in a room meant for gathering. The study features custom built-in shelves and cabinets, along with an R. Hughes Hallsworth Maven chandelier that evokes atomic whimsy. Porto Teleo hand-painted wallpaper wraps the dining room, which also features a clear glass Hermes chandelier.

A partially open floor plan means the family room overlooks the kitchen, offering seamless space for living, lounging and dining. The family room overlooks the turf backyard, which features an in-ground, glass-tile-bottom pool, outdoor grill, and kitchen, along with ample space for entertaining pets and people.

In the kitchen, home chefs will find L’Atelier and Gaggenau appliances, glass and brass cabinets and custom hanging shelves. A cozy breakfast nook offers a chill space to begin the day. The home's wine room blends form and function, with leather wine slings and space for sipping and storing favorite bottles.

Upstairs, the primary suite is an owner's oasis, with a bedroom sporting white oak floors, 10-foot ceilings, and Venetian plastered walls. A vestibule with a coffee bar leads to the master bathroom, which features herringbone stone floors, a walk-in shower, marbles vanities, and a free-standing soaking tub.

3452 Ella Lee Lane provides modern amenities while keeping River Oaks' old-school charm. There's a three-car garage, lush landscaping, an elevator, plenty of space for guest rooms, additional home offices, or workout spots. The home's new owners will be limited only by their imaginations on how this incredible home can be individualized.

$\u200b3452 Ella Lee Lane River Oaks Houston$

Photo by TK Images for Martha Turner Sotheby’s International Realty

Marble vanities and standalone tubs can be found in several bathrooms of the home.

with flying colors

Houston ranks No. 4 nationwide on new affordability and housing report

Photo by @joeltexas via Visit Houston/Instagram

undefined

A new national real estate report card has rated Houston top of the class for housing demand and affordability.

Realtor.com's first-ever Metro Affordability & Homebuilding Report Card compared the 100 largest metropolitan areas in the U.S. based on two scores that measured the most important factors for potential home buyers: an "Affordability Components" score that examined the current affordability of housing for residents, and a "Homebuilding Components" score that analyzed the rate of new home construction to meet future demand. Both scores were then used to calculate the final score and assigned a letter grade.

Including Houston, 10 total U.S. metros received grades in the "A" range — A+, A, A- — representing the most balanced locales for "favorable current affordability conditions and healthy future inventory growth to sustain them."

"Homebuilding and affordability are inseparable, and if we want to improve affordability in a lasting way, we need to build more homes," said Realtor.com chief economist Danielle Hale. "The metros at the top of these rankings show that buyers benefit most when communities pair homes that are attainable for today's local earners with enough new construction to support tomorrow's demand."

Only two metros earned "A+" grades with a total score of 77.5 or higher: De Moines-West DeMoines, Idaho (83.4 points) and Raleigh-Cary, North Carolina (82.8 points).

Houston was rated "A" overall with an "Affordability Components" score of 64.4 points and a "Homebuying Components" score of 85.2 points. The only other metros that earned an "A" for affordability and homebuilding were Columbia, South Carolina and Indianapolis, Indiana.

Realtor.com's report said the Houston metro has median household income of $78,845, and home listings have a median price of $363,106. The report's findings also show that newly built homes in the region cost 6.9 percent more than existing homes on the market.

Houston has a 1.88 housing permit-to population ratio, meaning the metro permits 88 percent more new homes than what would be considered typical based on the metro's population and national average construction levels.

Houston's "Realtors Affordability Score," or the share of for-sale inventory affordable to households at different income levels, is 0.691, just slightly higher the national average of 0.675.

Housing market grades across other Texas metros
Austin-Round Rock-San Marcos was the only other Texas metro to earn a grade in the "A" range. It is rated "A-" with a combined score of 72.5 points.

Unlike many other U.S. metros, newly built homes in the Austin area are actually more affordable than existing homes on the market. Austin has a negative new construction premium, where new build homes are 6 percent cheaper than existing ones.

The Austin metro also has a permit-to-population ratio of 2.37. Combined with the negative new construction premium, these factors signal that "builders are delivering homes at a rate well above the metro's population share — and at prices slightly below existing homes."

This is a snapshot of the factors that impacted Austin's grade:

Realtors Affordability Score: 0.639
Median listing price: $501,200
Median household income: $102,412

Elsewhere in Texas, Dallas-Fort Worth was given a "B+" rating, while San Antonio-New Braunfels and McAllen-Edinburg-Mission were both rated "C+." El Paso's housing market performance was only worthy of a "D" grade.

The top 10 U.S. metros with the highest-performing housing markets are:

No. 1 – De Moines-West Demoines, Idaho (A+)
No. 2 – Ralgieh-Cary, North Carolina (A+)
No. 3 – Columbia, South Carolina (A)
No. 4 – Houston, Texas (A)
No. 5 – Indianapolis, Indiana (A)
No. 6 – Austin-Round Rock-San Marcos, Texas (A-)
No. 7 – Jacksonville, Florida (A-)
No. 8 – Oklahoma City, Oklahoma (A-)
No. 9 – Palm Bay-Melbourne, Florida (A-)
No. 10 – Columbus, Ohio (A-)