LEADER LISTING The Leader • Saturday, June 27, 2020 • Page 1B
Recent surge in showings has local realtors encouraged By Adam Zuvanich azuvanich@theleadernews.com
What typically is a spring surge in the local real estate industry instead was a swoon, largely because of the COVID-19 pandemic and also because of a dip in the price of oil. But the market is making quite a comeback, which bodes well for the rest of the summer and fall. According to data released by the Houston Association of Realtors (HAR), the number of appointments for property showings tumbled around the time the pandemic hit the region in mid-March, bottoming out at 20,000 showings across the city during the last week in March, when Harris County was under a stay-athome order. But the number of showings has since skyrocketed, even outpacing the late spring and early summer showing totals from what turned out to a be a record-setting 2019 in terms of overall sales. “It’s much busier than you would think,” said Bill Baldwin, the owner of Heightsbased Boulevard Realty. “(The market is) much healthier than anyone would have imagined.” The HAR data shows that 2020 showings started outpacing those from 2019 in early May, shortly after the stay-at-home order was lifted. There were 52,363 appointments for showings during the week preceding June 15, an increase of more than 25 percent compared to the year. Showings slowed some in the week after, when 47,588 showings were scheduled across Houston, but still represented a 6 percent increase from 2019.
Baldwin and two other Heights-area Realtors, Amanda Anhorn and Theresa Hill of Greenwood King Properties’ Heights office, said those trends have been the same in Near Northwest Houston. Baldwin said there seems to have been “pentup demand” by prospective homebuyers who were forced to suspend or amend their searches during the shutdown, when the practice of virtual open houses and looking at online listings also spiked. Hill said most of the buyers in the market now are particularly serious about purchasing new homes. And because there is low inventory, at least partly because sellers have been hesitant to put their homes on the market and invite buyers into their living areas during a pandemic, many homes are selling above the asking price and there have been bidding wars. Baldwin said that’s especially true in the $400,000$900,000 price range. He said the high end of the market, meaning homes priced above $1 million, is “not doing very well.” “We definitely have more buyers than sellers,” Hill said. “… Those buyers are realizing that, so they immediately want to move on it, because they know that the inventory is just not there.” Because of the economic downturn associated with the pandemic and drop in oil prices, Baldwin said a good number of buyers are looking to downsize in terms of their home. He and Anhorn also said being cooped up at home for an extended period of time seems to have given homeowners more clarity about what they want or do not want in a property.
PROPERTY SHOWINGS up +6.0% YOY
60K
50K
2019
2020
40K
30K
47,588
20K
44,898
10K
0 March 9
March 30
April 20
May 11
June 1
Data provided by Houston Association of Realtors’ Multiple Listing Service The graph above represents appointments for home showings throughout the Houston area, with the yellow line representing 2019 and the blue line representing 2020. The numbers below the graph represent the total showings for the week ending June 22.
“People that have been working at home are realizing maybe they do want an office at home,” said Anhorn, the top producer in the Greenwood King Heights office. As for the market trends’ impact on real estate agents, Anhorn said agents who are newer and less established
seem to have been more adversely impacted by overall standstill during March and April. She said she continued to have business throughout, with a noticeable uptick in buyer clients as of late. Baldwin said his agency’s sales are about 10 percent below what they were in 2019. But considering the
unique circumstances of 2020, he’s happy with that. Hill said the agents at Greenwood King Properties are “absolutely” encouraged by the recent market trends. “Our (typical) spring-summer market is probably going to be shifted to the fall,” she said.
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Dance studio coming to Heights Boulevard By Betsy Denson
Black Dog Records space for lease Despite positive reviews and a novel business concept, Black Dog Records and Maggie May Coffee has closed at 726 W. 19th St. Owner James Sherwood had Black Dog on Bissonnet Street for seven years prior to opening the Heights location. A lease sign is up for the space.
betsy@theleadernews.com
Glenn Clements Jr. has announced that a Fred Astaire Dance Company franchisee signed a lease for 2,713 square feet on the second floor of Heights Central Station, 1051 Heights Blvd. Studio director Alexandros Armaos said the Heights location will be his second, after one in Humble that Armaos has owned since 2005. Armaos said he has always wanted to expand his business and that the urban lifestyle of the Heights appealed to him. “I love the industry,” he said. He is looking for a temporary location nearby where he can start off before moving to Heights Central Station in late August. The company offers private and group lessons as well as parties. Armaos said Thursday night dance socials will be a part of the Heights calendar. “We’re also trying some fitness classes to enhance the dancing,” Armaos said. Dance styles include Ballroom, Latin and Country Western – “anything with partners and dancing,” Armaos said. New senior community under construction on 19th Tucson-based Watermark Retirement Communities and Houston-based Hines are building a new senior living community at 1245 W. 18th St. The seven-story building will consist of 223 independent-living, assistedliving and memory care residences. Floor plans will range from studio to two-bedroom spaces. According to a news release, the campus will feature fitness rooms, an art studio, theater, library, swimming pool, activities lawn, salon and golf simulator as well as a café, bar and formal dining room with a casual gallery on the top floor that will feature
Contributed photo A Fred Astaire Dance Company will be upstairs at Heights Central Station.
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Former Finch Properties space available Real estate agency Finch Properties has moved from its space at 909 W. 15th 1/2 St., in the Revive development that also houses Fat Cat Creamery and Smoothie King. Revive’s Monica Danna said the 1,250 square foot space is already built out for an office and has a conference room and small kitchen.
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Contributed photo A new senior living community on 19th Street will be seven stories.
skyline views. A completion date has not been publicized. Mosley renovates property adjacent to Cedar Creek Gary Mosley, owner of The Creek Group and Cedar Creek Bar & Grill, 1034 W. 20th St., also owns the property across the street from its parking lot at 1100 W. 19th St. While a lease sign was up
a few months ago, the sign is now gone and the building is being re-sided. Mosley said he is repairing termite damage and generally getting the building ready for occupation. “I don’t know if I am going to rent it out or occupy it myself,” Mosley said. “We’ve had a high amount of interest in leasing it.” He said he will make his decision in a few weeks.
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