The area I call Inside West Loop is the 77027 zip code. Obviously, the term could extend to other areas south of US 59. But, 77027 includes shopping, restaurants and high-rise living I most associate with the term. The zip code includes a sliver south of US 59, and a very small area just outside the Loop. It excludes an area of River Oaks and all of Greenway Plaza. But, broadly it goes from US 59 to Memorial Park and from the West Loop to Buffalo Speedway.
For shopping, Inside West Loop includes the many stores of Highland Village and the about to open upscale River Oaks District. Also, The Galleria is just outside the Loop. The excellent restaurants include Tiny Boxwood’s, Liberty Kitchen, Escalante’s, P.F. Chang’s, Ragin’ Cajun, Ouisie’s Table, and Grotto.
But, the reasons I love the area are the neighborhoods. The following data is from two reports I have done this year relative to the area. According to the Houston Association of Realtors® (HAR), there are 38 neighborhoods in 77027. The seven neighborhoods with the most homes in 77027 from largest to smallest are Afton Oaks, Royden Oaks, West Lane Place, Lynn Park, Weslayan Plaza, Oak Estates, and Highland Village.
The neighborhoods in 77027 are in transition. Homes being sold may be a 1950s ranch with little updating or a tear down, include a new addition, be a complete remodel, or be a brand new home. As a result, while the statistics provide a useful benchmark, large variations will be seen in individual homes.
Although prices are up, there are fewer homes being sold in 2014 compared to 2013 because there are fewer homes for sale. During July 2014, there were 37 single family homes for sale for an average price of $1.45 million with 20 of these homes in the seven subdivisions. There were six town homes for sale for an average price of approximately $760,000 and seven condos for sale with an average price of approximately $150,000.
Average home sales price by subdivision during the first half of 2014 according to HAR:
Afton Oaks – $1,100,000
Highland Village – $259,000
Lynn Park and Annex – $606,000
Oak Estates – $2,106,000
Royden Oaks – $1,360,000
Weslayan Plaza – $395,000
West Lane Place – $1,179,000
High and Mid Rises –
With more being built over the next 3 years along Mid Lane and Westcreek between Westheimer and San Felipe, this area will have a significant portion of Houston’s high rises. According to HAR, there are currently six high and mid rises in 77027 that had unit sales during the first nine months of 2014. They are Briarglen, Briar Place, Highland Tower, Inwood Manor, Park Square and The Willowick.
Prices for units and buildings can be significantly impacted by the age of the building, status of updating the building and unit, size of unit, cost of amenities, view from unit and amount of maintenance fees.
Average high/mid rise two bedroom condo sales price by building during the first nine months of 2014 according to HAR:
Briarglen – $500,000
Briar Place – $512,000
Highland Tower – $763,000
Inwood Manor – $777,000
Park Square – $218,000
The Willowick – $553,000
For additional information –
Homes, town homes and condos currently for sale in 77027 can be found at www.insidewestloop.com. And, to get an automated estimate of the current value of your home, please go to www.insidewestloop.smarthomeprice.com. Or, if I can answer any questions or help you in any way, please contact me at your convenience.