Real estate
BY JOVANNA AGUILAR & DANICA LLOYD
BY MELISSA ENAJE & CARSON WEAVER
Taylor Morrison progresses on new housing developments • Avalon at Cypress opened in January 2022 and will have 709 homes at build-out, plus a club- house, pool, playground and a pickleball court. • Mason Woods opened in September 2022 and will have 674 homes at build-out, plus a tness center, pool, playground and trails.
Average price of single- family homes reaches all-time high in Houston The average price of single-family homes in Houston reached an all-time high of $443,970 in May, according to the May market update released June 12 from the Houston Association of Realtors. What they’re saying HAR Chair Thomas Mouton said in a news release the Houston housing market has demon- strated its adaptability “yet again.” “While the weather disruptions may have impacted some sales, there continued to be strong activity with a rise in available listings and persistent buyer interest,” Mouton said in a state- ment. “We are beginning to see a more balanced market pace, beneting both buyers with more options and sellers with sustained demand.”
Disaster exemption ling deadline nears Property owners who had physical damage to their property during the storms that swept through Harris County this spring have until Sept. 3 to apply for a temporary disaster exemption, according to a news release from the Harris Central Appraisal District. “While damage to a house or other struc- ture from a falling tree is eligible for exemp- tion under this particular law, damage that occurred only to trees or shrubbery caused by the disaster isn’t eligible,” HCAD Chief Appraiser Roland Altinger said in the release. Explained Texas Tax Code allows a qualied property that is at least 15% damaged by a disaster in a governor-declared disaster area to receive a temporary exemption of a portion of the appraised value of the property.
Houston trends
May’s average single-family home price of $443,970 topped the previous record of $438,350 from May 2022. The average home price is up 3.6% year over year.
Homebuilder and developer Taylor Morrison is working to bring more than 3,300 single-fam- ily homes to the Cypress area across several neighborhoods. “Because of the continued high need for hous- ing in the fast-growing Greater Houston market, and our pinpoint approach to design and plans, we’ve focused the majority of our homes to be move-in ready,” Todd Rasmussen, Houston Divi- sion president at Taylor Morrison, said in an email. “This process will provide eciency, while being exible enough to meet the needs of the Greater Houston new construction housing market.” The details Taylor Morrison ocials said these single-family neighborhoods are taking shape: • Bridge Creek opened in June 2020 and will have 757 homes at build-out, plus a clubhouse, pool, playground, trails, dog park and tennis court.
Making headway on homebuilding Percentages show build-out progress based on the number of homes built compared to the number of homes planned. 1 Bridge Creek: 60.2% 2 Avalon at Cypress: 38.6% 3 Mason Woods: 28.9% 4 Yardly: 50% 5 Redbud: 0.2%
The median home price increased 1.5% to $345,000 year over year.
• Redbud will open in July and will have 978 homes at build-out, plus a buttery garden, pool, pavilion, open spaces, playscapes and trails. Also of note Taylor Morrison is also working on Yardly Cypress, one of the region’s rst build-to-rent neighborhoods with 240 homes planned. Home features include stainless steel kitchen appliances, quartz countertops, full-size washers and dryers, and doggy doors for pets to access a private turf backyard.
Active listings in the Houston area are up 46.8% since last May.
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New listings in May saw a 21.6% increase from last May, up from 12,568 to 15,280.
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Sales of homes priced at $1 million or more increased by 9.6%.
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Single-family home closings declined year over year, from 8,664 to 8,538.
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SOURCE: TAYLOR MORRISONCOMMUNITY IMPACT
SOURCE: HOUSTON ASSOCIATION OF REALTORSCOMMUNITY IMPACT
CYPRESS ROSEHILL 14315 Cypress Rosehill (281) 373-2999
SPRING CYPRESS 22508 Hwy 249 (281) 379-7383 BARKER CYPRESS 17996 FM 529 (281) 656-4200
HUFFMEISTER 8945 Hwy 6 N (281) 859-5879
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