Houston Homebuyers Seek Value in More Affordable Communities

Porter/New Caney West again tops HAR’s list of Hottest Communities in the Houston Area for Q2 2024

With affordability being a top priority, many Houston homebuyers are flocking to suburban communities where home prices are below the Houston area average, according to the Houston Association of Realtors’ (HAR’s) latest Hottest Communities in the Houston Area report.

Porter/New Caney West, located about 30 miles northeast of downtown Houston, had the largest percentage increase of home sales in the second quarter of 2024, with transactions climbing 140.5 percent compared to the same time in 2023. The Montgomery County community has ranked as the hottest community in the Houston area since the beginning of this year. The average home price in this community was $290,456.

Brookshire, a Waller County community about 40 miles west of Houston, ranked second on the list, with transactions up 105.6 percent year-over-year. The average price of a home in this area was $326,768.

Newly built homes accounted for the majority of sales in both of these communities. New construction made up 77 percent of sales in Porter/New Caney West and 84 percent of sales in Brookshire during the second quarter of this year.

More affordable housing options continue to attract homebuyers to the suburbs. Nine out the top 10 communities in the report had average home prices below the Houston area’s average of $432,090, according to HAR’s June 2024 Housing Market Update.

“As home prices continue to rise, more buyers are looking to the suburbs for a better value,” said HAR Chair Thomas Mouton with Century 21 Exclusive Properties. “These communities offer a blend of affordability, modern amenities and customizable options. This makes new builds an ideal choice for many consumers, especially first-time homebuyers.”

The report also looked at the hottest luxury communities in the Greater Houston area where homes are priced over $1 million. The River Oaks Area had the largest percentage increase of home sales during the second quarter of 2024 with a total of 32 transactions. That is 23.1 percent above where home sales were during the same time last year. The average home price in this community was $3,106,700.