(From the HAR.com newsroom). Driven by the allure of more affordable housing, an increasing number of homebuyers are gravitating towards homes situated beyond the Houston city limits, according to the Houston Association of Realtors’ (HAR) latest report of the Hottest Communities in the Houston Area.
Fulshear/South Brookshire/Simonton, a community located more than 30 miles west of downtown Houston, had the greatest percentage increase of home purchases in the last quarter of 2023, with transactions jumping 103.6 percent year-over-year. The Fort Bend County community also took the top spot on the list of the Hottest Communities in the Houston Area in the third quarter of 2023. The average home price in Fulshear/South Brookshire/Simonton was $518,943.
The Crosby Area ranked second on the list with transactions increasing 83.6 percent year-over-year. The community’s ranking was up from last quarter when it ranked as the 25th hottest community in the Houston area. The average price of a home in the Crosby Area was $274,326.
Suburban communities with new home construction saw the largest percentage increase in sales in the fourth quarter of 2023. In the top five communities highlighted in the report, new home sales constituted at least half of the total home sales last quarter.
Eight of the top ten communities in the report had average home prices below the Houston area’s average of $412,161, according to HAR’s December 2023 Housing Market Update.
“More affordable housing continues to draw homebuyers to the suburbs and other outlying communities,” said HAR Chair Thomas Mouton. “This trend underscores the increasing significance of consumers making cost-conscious decisions in today's real estate market while pursuing their dreams of homeownership. Buyers will also notice they have more housing options as prices moderate and inventory remains robust.”
The report also analyzed the hottest luxury communities in the Houston area where homes are priced over $1 million. The Westchase Area was the most active luxury community during the last quarter of 2023. The average home price in this community located south of Westheimer and west of Gessner was $1,095,758 during the fourth quarter.
For HAR’s full list of Houston’s Hottest Communities for Q4 2023, click HERE.
