West University is located on the east side of the 610 loop and south side of I-69. The beautifully tree lined neighborhood is walking distance to Rice University and less than 15 minutes away from the Galleria, Downtown, and the Medical Center. In addition to the great location, West University Elementary is one of the most sought out after elementary schools in the city.
I have taken compiled statistics and trends on the area below to provide some additional insight on the housing market in West University. Note, the homes considered for this analysis were livable homes built after 1980. For a more in depth conversation, please contact me at 713.653.3455 or Andrew@NanProperties.com
WEST UNIVERSITY AVERAGE HOME SALE PRICE
Over the past 5 years, there has been consistent increases in the average sale price of homes in West University. The combination of location and schools, as well as home sizes and space, have driven the pricing.
WEST UNIVERSITY HOMES SOLD
Nearly 150 homes are sold in West University each year. So far in 2017, the year to date sales are exceeding those of 2016 by more than 50%. Currently, there are less than 60 homes available on the market to choose from.
WEST UNIVERSITY AVERAGE SQUARE FOOTAGE
Homes sold in West University over the past 5 years have averaged just under 4,000 sq ft. This number has seen an increase in 2017 to nearly 4,500 sq ft, the average home available on the market is close to 5,000 sq ft with 4-5 bedrooms and 4-5 bathrooms.
WEST UNIVERSITY AVERAGE PRICE PER SQUARE FOOT
The demand for homes in West University have driven increases in the average price per square foot. While the luxury market saw a slight slow down in 2016 and a reversion of pricing back to 2014 in West University, the average price per square foot has rebounding significantly in 2017 setting record pricing.