Homebuyers are migrating to the northern and western parts of the Greater Houston area, including portions of Hockley, Katy, Cypress, Tomball and Magnolia, a new
report from the
Houston Association of Realtors found. The report released April 25 ranked 206 communities in the Houston area by the greatest percentage increase in home purchases year over year in the first quarter of 2023.
Hockley tops the list with a 53.9% increase year over year in the number of homes purchased. The Old Towne area of Katy follows with a 49.3% increase year over year.
Other communities making up the Top 10 include:
- La Porte/Shoreacres up 21.2% year over year
- Porter/New Caney East up 20.5% year over year
- Cypress south up 19.8% year over year
- Tomball up 3.1% year over year
- Sienna area up 2.1% year over year
- Five Corners up 1.9% year over year
- Denver Harbor up 1.6% year over year
- Magnolia/1488 West up 0.1% year over year
In addition to topping the list for more homes purchased, Hockley also clocks in with an average sales price of $340,358, which is lower than the Houston region's $408,647 sales price, according to the report.
Communities in the Top 10 also recording a lower average sales price than the region include:
- La Porte/Shoreacres
- Porter/New Caney East
- Five Corners
- Denver Harbor
“As affordability remains a challenge and with the increasing popularity of remote work, we anticipate that homebuyers will continue to be drawn to these outlying suburban communities,” HAR Chair Cathy Treviño with Side Inc. said in the release. “Many people like the small-town feel and affordability over the bustle of city centers across the country."
In the luxury market, the hottest luxury home communities in the Houston area seeing the greatest percentage increase in home sales year over year include:
- River Oaks shopping area
- West University/Southside
- Rice/Museum District
- River Oaks area
- Bellaire area
View the 50 hottest communities in the Houston region below.
