The Houston housing market has been showing exceptional strength in our inner loop neighborhoods, according to Tanya Rutledge, of the Houston Chronicle.
"The Houston-area housing market is strongest inside Loop 610 - even if no one is yet ready to call it great.
"People aren't writing multiple offers on hoods of cars at night by flashlight or anything like that, but the pace is quickening," said Ralph Atkinson, a broker/associate with Greenwood King Properties who does a large portion of his work inside the Loop...
"While there is some sense of urgency among buyers inside the Loop - where the median home price per square foot increased 0.4 percent to $171.70 between 2010 and 2011, according to the latest Crawford Realty Advisors real estate analysis commissioned by the Houston Chronicle - it has not completely shifted to a seller's market.
"Data compiled by Crawford Realty indicate the Inner Loop market accounted for 5.7 percent of home sales in the greater Houston area last year.
"'If a property is well-priced, realistically priced, it is selling, 'Atkinson said. 'Some people have flights of fancy on prices no matter what the market, but with a drop in inventory recently, the market is in very good shape.'
"In the West University Place subdivision inside that enclave city, the median price per square foot increased 2.8 percent in 2011 to $284.48. Sales activity in the 1201-home neighborhood stayed fairly steady, with 52 sales in 2011, compared with 59 in 2010..."