Montrose Bakery Branching Out to Heights; Houston’s Latest Round of Pricey Home Sales

Photo: Russell Hancock via Swamplot Flickr Pool


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  • Paywall:

    The neighborhoods, along with their median 2017 home prices provided by Martin and her website, are:

    River Oaks: $1,950,000
    Boulevard Oaks/Southampton: $1,130,000/$1,263,000
    West University: $1,284,000
    Memorial Park: $1,525,000
    Hyde Park/Montrose: $818,721 (in 2016)/$635,250
    But why would home prices skyrocket in these areas? According to Martin, it’s primarily due to three shared characteristics: expensive areas, close to offices and near top-ranked schools.

    “Historically, when we’ve seen both a rising stock market and rising oil prices, Houston’s luxury neighborhoods have performed extraordinary well,” Martin said.

    Additionally, residents want to live near both their offices and good schools for their children, she said. Land in these areas — which include River Oaks, West University and Bellaire — tend to be the largest beneficiaries of increased value.

    And as land prices surge, so, too, do home prices.