Houston's Hottest Communities in Q3 2023
The Houston Association of Realtors (HAR) recently released a report ranking the region's hottest communities in Q3 2023. The report, which utilized data on average sales price and number of transactions, found that the suburbs are dominating the market.
The top-ranked community was Fulshear/South Brookshire/Simonton, located in Fort Bend County, with an average sales price of $506K and a 56 percent increase in the number of transactions year-over-year. Homes in this community sold in an average of 40 days.
Five of the top-10 slots were occupied by communities with average sales prices well below the Houston average of $417K. These communities were:
Denver Harbor, in particular, saw a whopping 38 percent increase in the number of transactions year-over-year, with homes selling for an average of $283K.
The report also analyzed which "luxury" neighborhoods, with homes priced $1M and above, are among the market's highest-performing. The top-ranked neighborhood in this category was Rice University / Museum District, with an average sales price of $1.1M and a 25 percent increase in the number of transactions. Other neighborhoods in this category included River Oaks, Tanglewood, and Bellaire.
- Fulshear/South Brookshire/Simonton
- Santa Fe
- Tomball
- Sugar Land North
- Huffman
- Denver Harbor
- Rice University / Museum District
- River Oaks
- Tanglewood
- Bellaire
Conclusion
The Houston housing market remains hot, with the suburbs leading the way. Buyers are drawn to these communities for their affordability, amenities, and proximity to the city. The luxury market is also performing well, with buyers looking for homes in established neighborhoods with good schools and access to parks and recreation.
