Almost entirely within Houston city limits, Spring Branch is one of the largest and most popular residential areas in Greater Houston. Its name derives from the Spring Branch waterway, one of several that German immigrants discovered running through the region. From humble origins as a hub for lumber and agriculture, Spring Branch has taken off in recent years, with hundreds of new construction homes built to accommodate an ongoing population influx.
Many consider Spring Branch the ideal space for escaping the hustle and bustle of big-city living while remaining close to the amenities that only a large city can provide. Families and professionals single out Spring Branch for its proximity to Downtown Houston and the city’s Energy Corridor. You can find surprisingly affordable homes with large lots built on streets lined with trees and interspersed with public green spaces. And with convenient access to I-10, 610, and Beltway 8, you need never be far from the action.
If you're interested in property in or around the Spring Branch area, it's essential to consider the housing market prices, trends, and forecasts. Read on for insights courtesy of Eastwood Realty.
Spring Branch housing market trends 2023
Spring Branch has widespread appeal for its location, accessibility, and amenities. Investors perceive growth potential in its housing market, which peaked in 2021. If you’re moving to Houston in the near future, it could be the ideal time to buy a house in Spring Branch.
Reasonable home prices
Many homes in Spring Branch are clustered in Spring Branch West, an area that spans Beltway 8 and shares a border with Bear Creek Pioneers Park. As of August 2023, about 100 single-family homes
were publicly listed in Spring Branch West. Homebuyers exploring this neighborhood will find surprisingly affordable homes with luxury amenities. In some cases, a bid in the ballpark of $600,000 could net you a relatively new house with three bedrooms, three bathrooms, and over 3,000 square feet.
Stubborn interest rates
Currently, Texas has an average interest rate
of 6.99% for a fixed 30-year mortgage. The actual interest rate you receive will depend on several factors, including your credit score, debt-to-income ratio, and the amount of money you are borrowing. If you are considering buying a home in Texas, getting pre-approved for a mortgage before shopping for a home is essential. You can get pre-approved for a mortgage through a bank, credit union, or mortgage lender.
Time will tell whether Spring Branch real estate follows the trends established in recent years. Rate statistics paint a rosy picture, while volume metrics suggest Spring Branch real estate peaked in 2021.
- Average sales prices have grown yearly since 2019, increasing from $379,000 to over $450,000 in 2022.
- Inventory has halved since its 2018 peak, when the market had 4.8 months of supply
- Sales volume peaked in 2021 when over 1,900 sales were completed in Spring Branch.
- Dollar volume peaked in 2021 — over $800 million in total sales.
One way to define an area’s luxury real estate market is by finding the 90th percentile of home sales. In 2022, 8.5% of home sales in Spring Branch closed at $750,000 or above. By a conservative estimate, the Spring Branch luxury market would comprise homes listed at around $750,000 and higher.
So far in 2023, home sales
are below the torrid pace of 2021 but still respectable, with over 120 sales each month from March through June. With inventory teetering around 2.5 months of supply, the coming months could prove pivotal in the local real estate market.
Spring Branch comprises four “super-neighborhoods” named after their geographical location. Their populations are fairly distributed; the highest number of residents live in Spring Branch West, while Spring Branch North is the smallest and least populated neighborhood.
Spring Branch East
Spring Branch East is a conveniently located neighborhood just outside the 610 Loop. New home construction is booming in Spring Branch East, especially near Wirt Road and several gated subdivisions. There are industrial, warehouse, and retail developments along the northern part of the community near Hempstead Highway and US 290. Spring Branch East is a great place to live for people who want to be close to the city but also want a more suburban feel.
Spring Branch West
Spring Branch West is a primarily residential neighborhood with various housing options. Most houses in the area are single-family homes, many in subdivisions developed in the late 1950s and 1960s. The area also has quality apartment complexes, primarily located on Gessner, Long Point, and Westview Roads. The neighborhood is well-located for commuters and has seen the addition of large retail centers like Costco, Best Buy, HEB Grocery Stores, and Academy.
Spring Branch North
Spring Branch North is a super neighborhood bordered by Clay Road to the north, Campbell Road to the east, Neuens Road and Hammerly to the south, and the Sam Houston Parkway to the west. The area is mainly residential, with single-family homes dominating the landscape. Some subdivisions in the area offer residents a sense of community and amenities such as swimming pools, tennis courts, and playgrounds.
Spring Branch Central
Of all the local neighborhoods, Spring Branch Central has seen the most history and change. It initially housed the German immigrant population responsible for founding Spring Branch. Today, its boundaries extend from Westheimer Road to the north to the 610 Loop to the south, and from South Braeswood Boulevard to the east to Westpark Tollway to the west. The neighborhood remains residential, featuring a mix of single-family homes and apartments. It’s also where you’ll find Spring Branch Creek and a church dating back to 1864.
Get ready to enjoy all that Spring Branch offers
Any way you look at it, the Spring Branch real estate market is one of Houston’s most promising. It remains a hotspot for new construction in one of the city’s best locations. With so much happening on the luxury housing front, Eastwood Realty
is in an excellent position to serve you. Our team has helped many clients
achieve their goals in Spring Branch and other desirable neighborhoods
throughout Greater Houston.
If you're ready to see all Spring Branch offers, give us a shout!