According to information that I reviewed on Houston Association of REALTORS Multiple Listing Service, as of 5/23/2012, there are 114 single family residential homes on the market priced from $199,000 for a 1228 sq. ft, 3 bed/1 bath home on a 6750 sq. ft. lot to a high of $2,199,500 for a 2000 built, 5854 sq. ft, 4 bedroom/ 4 full-3 half, 3 car garage home on a 43,192 sq. ft. lot. The average list price per sq ft is $223.07. Twenty two homes are for sale for over $1,000,000 and 18 homes are priced at $400,000 or less. As of 5/23/2012 there are an additional 53 homes pending under contract priced from $275,000 to $2,750,000.
In April 2012, 25 sales closed with an average sales price per average sq. ft. of $209.69. The low sales price was $225,500 for a 3 bed/1 bath/ 1 car garage, 1230 sq. ft., home, sold mainly for the 8750 sq. ft. lot. The highest reported sales price was $1,180,000 for a 2007 built, 6205 sq. ft., 4 bed/ 4.5 bath/ 2 car garage home on a 8750 sq. ft. lot.
There are presently reported to be 4 townhomes actively on the market, priced from $239,900 to $359,900. The average listing price per average sq. ft .price is $166.64. One is pending and under contract. In April 2012, 4 townhomes sold at prices ranging from $219,500 to $335,000 with an average sold price per average sq. ft .price of $133.06.
New construction prices in Bellaire are holding firm for the most part. Builders are carrying less inventory due to tighter lending requirements and slower sales in the last couple of years, so most of the new homes are custom homes. However a few builders are starting spec homes or buying lots, so that is an optimistic sign. With interest rates at a near 50 year low, it makes it an attractive time to buy.
ZIP Code: 77401 Location Characteristics: Bellaire, Texas, located on both sides of Interstate Loop 610 West, is surrounded by Houston and many subdivisions including West University Place, Southside Place, Meyerland, Willow Meadows, and Afton Oaks. It's a very short distance to the Galleria, Reliant Stadium, downtown Houston, the Theater District, and the Medical Center.
Bellaire is zoned for residential,commercial, and light industrial sections. The city is well known as a residential city. The city is well-liked for its police and fire protection, parks and recreation facilities, library, public works department, and recycling center.
For the most part, construction in Bellaire originated in the late 40's and 50's. Many of these original homes have been and are being purchased at lot value with the old homes being replaced with larger, new construction homes.
