Houston's Southampton Neighborhood Out Shines Other Neighborhoods in Third Quarter

Houston's Southampton neighborhood, a sought after close-in location, performed better than other close-in neighborhoods during the Third Quarter of 2009. While small in number, single family home sales increased 233% in Southampton in the Third Quarter 2009 compared to the same period in 2008. A similar analysis of West University showed an increase of 24.8%, River Oaks a decline of 14.3% and all of Houston an increase of 1.5%.

The Southampton increase was in all price ranges. While considered an affluent neighborhood, during the relevant time period Southampton did not have any homes on the market priced more than $2 million. This is the price range that has not moved anywhere in Houston this year.

With very little inventory on the market, Southampton has one of the few clear Sellers' markets in Houston. Sellers in Southampton, however, must keep in mind that although their neighborhood is in demand, Buyers are influenced by the dynamics and news of other neighborhoods. Homes priced aggressively in this environment can be expected to sit unsold. Homes priced properly in Southampton are selling well.

Here are the third Quarter numbers for Southampton: