Heights Lots For Sale
Mid 2014 Note: This is a two year old post. Prices have since doubled and land is nearly impossible to find. It does give you an idea of how things have changed in such a short period. See my page on Houston Heights for info on the Heights and more recent posts.
I’ve written several posts about Heights lots, but lately I’ve gotten a lot of calls from individuals looking for their “perfect” lot, and a few builders asking my opinion on price for a specific lot for. So, here is a quick update on prices and a look at some Heights lots for sale or recently sold.
Many buyers will have a small budget for land, i.e. $100k-$125K, so they look for a small lot. (That’s not a low price in the suburbs, but it is for Heights lots.) That’s why my listing at 407 W 9th St got so many calls. $99,900 for a 2904 SF lot. Small Heights Lot For Sale I just closed on it for $92,000 to a Heights Builder.
In general, land prices are still a little erratic, but, they are NOT going down. In fact, there are enough builders chasing choice lots that prices are going up. Some asking prices are way up.
When talking about Heights lots I lump them into 4 categories:
- Core parts of Houston Heights & Woodland Heights… ($40+/SF);
- West of Yale below 20th St… (~$30/SF);
- North of 20th St. This includes Sunset Heights & further West. These are all over the place in price. The reason for this is that each block is so different from the rest. Some very nice, some next to warehouses… ($20SF-$25+/SF)
- The “Fringes” these are lots backing up to Shepherd; the very SW corner of the Heights; on or near commercial streets, etc. The odds and ends that don’t fit a neat category…Where you wouldn’t normally want to put a traditional house. These can’t be lumped into a price range: they can be $15/SF to $40+/SF if it’s a commercial street.
Let’s start where there is a lot of new homes being built; West of Yale, below 20th St. These lots sell for ~$30/SF. See the pdf of Heights Lots West. It shows Available lots (Active) and those pending or sold in last 12 months. This pdf shows the average asking and sold prices to be ~$35/SF. The map shows where these are located. There were a few more below W 8th, but these are a little rougher, “fringe” lots….not included.
Another area that has a lot of new construction is North of 20th St. This includes Sunset Heights (straddling main St), Gostic, and West toward Shepherd. This pdf of North Heights Lots for Sale gives a range of prices per SF. These are very location specific.
Last, but probably foremost, is where most people want to live; the core areas of Houston Heights and Woodland Heights. This pdf of Central Heights Lots shows list price per SF (LP/SF) to be $40+/SF (asking up to $50/SF); less for odder locations. Sales prices are still about $40/SF (SP/SF).
Notes:I hope this post makes sense. I had a hard time condensing the info into a short paragraphs. Also, the properties listed as “lots” represent only about half the Heights lots for sale. The others are listed as “single-family homes tear-down value”. This is obviously very subjective and harder to search out.
If you are a FSBO, trying to sell your own Heights or inner loop lots; call the Houston Heights Realtor Rich Martin today. I specialize in Houston Heights homes and the surrounding inner-loop areas. Call today: 713 868-9008 I would be happy to give you the latest comps and my opinion of value for your specific location.
If you are a buyer looking for Heights lots for sale, talk to me along the way. Advice is free and well worth what you pay for it