Jul 26, 2016
Why sales surge at this Midtown condo building
HOUSTON - Recent headlines about Houston’s residential real estate market have been dominated by news of stalled or canceled luxury condominium projects. However, one Houston developer, Surge Homes, is capitalizing on...
HOUSTON – Recent headlines about Houston’s residential real estate market have been dominated by news of stalled or canceled luxury condominium projects.
However, one Houston developer, Surge Homes, is capitalizing on a growing demand for more affordable condos in the Bayou City.
Parc at Midtown, an 80-unit condo and townhome community is underway on 1.7 acres at 2401 Crawford St., a few blocks west of I-45 and Hwy. 288, in Midtown.
The homes range in size from 465 sf for a one-bedroom condo unit to 1,528 sf for a three-bedroom home, and in price from $172,300 to $430,260.
The gated Modern-style community features 58 one- to three-bedroom condos, half of which sold in 90 days.
Since sales began in March, Surge Homes has sold 39 condos—or 67 percent of the units.
A recent Texas Association of Realtors report found that despite the oil slump, condo sales in Houston saw an 11.2 percent increase year-over-year during the first half 2016, with the median price sold at $130,000.
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