Outlook for Houston Real Estate 2022

  • Martin Shanahan Group
  • 05/2/22

Houston's population grew over the last five years to more than 7.2 million and is projected to continue growing by almost 600,000 in the next five years. This is not a shock for Houstonians. Not only does Houston have one of the best culinary scenes in the nation, but the Lone Star State is also a hot spot for those with work-from-home capabilities looking to escape high taxes, hustle and bustle, and harsh weather. 

As we enter 2022, Houston real estate agents will need to be at the top of their game. With the lack of housing supply, buyers and agents should prepare for bidding wars. 

Houston continues to be an attractive city for both Texans and Americans alike. Houston is the most populated city in Texas and the fourth-largest in the United States. Texas draws many out-of-state residents, and current homeowners will celebrate as values continue to appreciate. According to HAR, Houston's Multiple Listing Service, as of October 2021, the average home in Houston was $241,052, which illustrates a 17.6% increase year-over-year. That figure is likely to increase. An astonishing 26.6% of homes sold above the listing price in 2021. Zillow predicts that home values will increase over the next year by another 13.5%. 

There has never been a better time to own real estate in Texas, especially in the growing city of Houston, Texas. Some areas experiencing high growth and increasing value are Meyerland, Bellaire, and West University neighborhoods. 

Meyerland, with award-winning schools, and proximity to major Houston areas, is one of the city's hidden gems. Homes for Sale in Meyerland can be scary for buyers and agents alike due to the previous flooding in the area. However, our agents are the best Meyerland Realtors to consult, many having lived in the area for years. 

The City of Bellaire is an engaging, family-focused, and valuable area that due to the Houston floods has largely been overlooked by buyers. However, with oversized lots and homes with great bones - Bellaire Real Estate is full of potential for Houston Flips and Houston Renovations alike. Our Bellaire realtors are extremely knowledgeable and sensitive to flood plain concerns and stay up to date on the latest updates regarding the changing flood designations through FEMA. 

West University Place is known for its proximity to Rice University and Rice Village's outdoor retail area. Characterized by walkability, brick bungalows, and a canopy of tall trees. West University homes are often grand and modern, but there is still the original charm of the mid-century cottage style that they used to have. West University Real Estate is a popular commodity in Houston due to its proximity to the center of the city and the charming convenience of the safe walkable neighborhoods. The Rice Village and Rice University trails allow residents the special bonus of the great outdoors right in their backyard. 

The Martin Shanahan Real Estate Group is proud to have been serving the Bellaire, Meyerland, and West University Place Neighborhoods for over 15 years combined. Many of our agents reside in these neighborhoods and would be happy to welcome you to their community. To learn more about these areas, send us a message today!

 

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