This trend has continued as a notable section of East Downtown, known as EaDo, is now being eyed by real estate developers, the Houston Business Journal reports.
Formerly Houston's Chinatown, real estate activity in EaDo has been mute in recent history. However, both residential and commercial developers have now recognized the opportunity at hand.
Many of the current buildings in EaDo come with industry charm high sought by prospective buyers, especially those in younger demographics. In addition, Houston's Major League Soccer team, the Dynamo, recently located to this section of downtown, putting a spotlight on the area.
However, downtown isn't the only area bustling with activity. In fact, real estate throughout Harris County experienced significant gains so far this year. According to the Houston Association of Realtors, there were 5,379 home closings in October, marking 17 straight months of rising sales.
Although increased activity may leave buyers with limited options, the constrained inventory has helped stimulate property values. During the month, the average single-family home price appreciated 8.3 percent on an annual basis to $223,366, the report said.
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