Temperatures are starting to cool, but home sales are heating up in several outlying communities in the Greater Houston area, according to the Houston Association of Realtors’ (HAR) report of the Hottest Communities in the Houston Area.
Fulshear/South Brookshire/Simonton, a Fort Bend County community located more than 30 miles west of downtown Houston, had the greatest percentage increase of home purchases in the third quarter of 2023, with transactions jumping 56.3 percent year-over-year. The growing community’s ranking was up seven spots since last quarter’s report. The average home price in Fulshear/South Brookshire/Simonton was $506,076.
Cypress South ranked second on the list with transactions rising 47.8 percent year-over-year. The community’s ranking was up three spots from last quarter when it ranked as the fifth hottest community in the Houston area. The average price of a home in Cypress South was $483,686.
10 Hottest Communities in the Houston Area (Q3-23)
“Elevated interest rates are continuing to fuel the housing market beyond the city limits,” said HAR Chair Cathy Treviño with LPT, Realty. “Many homebuyers are searching for affordable housing and space and that is what many of the outlying communities on this list offer.”
The report also analyzed the hottest luxury communities in the Houston area where homes are priced over $1 million. All the top luxury communities are located near downtown Houston. The Rice/Museum District was the most active luxury community during the third quarter of 2023. The average home price in this community was $1,114,885. The Rice/Museum District’s ranking was up two spots from the second quarter of 2023 where it ranked as the third hottest luxury community in the Houston area.
5 Hottest Luxury Communities in the Houston Area (Q3-23)
For HAR’s full list of Houston’s Hottest Communities for Q3 2023, click HERE