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West Houston Market on the Road to Recovery

Energy Realty just hosted the first annual Energy Corridor International Festival last weekend to help remind residents and local businesses why the Energy Corridor is a great place to live, work, and play. Overall, the festival was a great success as many local businesses came out and shared their food, culture, services and product on a beautiful sunny day, and the live performances and DJ created a lively atmosphere.

                This was a grass roots effort pulled together by myself and other volunteers, Amy Dukes of Energy Corridor Living Magazine and Barbara Denson, author of the Gary the Go-Cart series. As residents of the Energy Corridor, we have seen businesses and neighborhoods hit hard by first the downturn of the oil industry and second by Hurricane Harvey, and we want to revive this community again. Our hope is that this annual event will continue to grow every year and become as popular as White Linen Nights in the Heights.

                While driving through the neighborhoods that were hit hard by the release of the reservoir in 2017, I am happy to see that the neighborhoods have come back to life and are beautiful and pristine again for the most part.  As a result, the home sales in these neighborhoods and the Energy Corridor have picked up again, although the market still remains saturated with a 9 month supply of inventory.

                We are finding that in order to compete in a market full of remodeled flood homes that are often priced below pre-flood value, homeowners have to update and freshen their homes to sell, even if they did not flood. In 77077, there are 294 single family homes on the market;  205 in 77079; and 1147 homes for sale in Katy! That’s a lot of homes to choose from, so buyers can be picky right now.

                As the memory of Harvey slowly fades away and the neighborhoods look better than ever, the desire to live in the Energy Corridor will far outweigh the risks of flooding and this area will come back stronger than ever! At the same time, as oil prices continue to stabilize in the $60’s and are predicted to go up to $70/barrel in a year, the empty office spaces will start filling up again, and home values should follow this trend.

                There are great things happening in West Houston and I am excited to be in the middle of it!

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Tune in to 100.7 FM today at 1 p.m. to hear Sherry speak on Stewart Title’s Real Estate Matters radio show about staging, interior design, and the real estate market in Houston. Just in case you miss it, you can hear the whole show at: http://www.kkht.com/contentpages/4532/

Happy listening!

 

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Testimonials

Sherry was attentive and responsive during the whole process. She quickly noted what work was needed in the house in order to make it more attractive, and in a difficult market, she managed to lease the property at a good price. Very happy with her knowledge, communication, and execution.

Alejandro Paredes

1111 Eldridge Pkwy, Suite 200
Houston, TX 77077