Meanwhile, the average number of days a home spent on the market fell in most ZIP codes in the area, rising only in the 77098 ZIP code.
Total number of homes sold
The total number of homes sold in the 77008 ZIP code, which covers Lazybrook/Timbergrove and Greater Heights, jumped by more than 40%, rising from 963 homes sold between June 2019-May 2020 to 1,358 sold between June 2020-May 2021. However, significant increases in homes sold were seen across all five ZIP codes. The Midtown area saw a 27.2% increase in homes sold, which was the smallest increase percentage-wise of the five ZIP codes. Homes sold in the Montrose and River Oaks area increase by more than 60%.
Average home sales price
The average price of homes sold also increased in all five ZIP codes when comparing the June 2019-May 2020 and June 2020-May 2021 periods. The average price increased by more than $70,000 in both the 77006 and 77098 ZIP codes, which cover the Midtown area and parts of Upper Kirby and Montrose, respectively.
Home prices were by far the most expensive in the 77019 ZIP code, which still saw an increase in excess of $60,000.
Average days on market
On top of more homes selling and homes selling at higher prices, the amount of time a home spends on the market is also declining in at least four of the Heights-River Oaks-Montrose-area ZIP codes. The average number of days a home spent on the market fell by more than 10 in the 77006 ZIP code, but drops were more moderate in the Heights.
Homes took longer to sell in the June 2020-May 2021 timeframe in the 77098 ZIP code, rising by 32.7% when compared to the previous 12-month period.