SOURCE: Johnson Development Corp.

June 22, 2008 23:00 ET

Sugar Land, Missouri City Real Estate Statistics Tell Impressive Story

MISSOURI CITY, TX--(Marketwire - June 22, 2008) - Fort Bend County is a hot real estate market right now, according to the Houston Association of Realtors (HAR), which recently ranked Sugar Land real estate number one on its "Hotness Index," a list derived from the percentage of home listings that gain a sales contract in a given month.

Missouri City ranked fifth on the list.

Average market values in both cities also have climbed, according to HAR statistics, with the average market value of Sugar Land homes rising 9 percent to $222,615 in one year, from $202,485, and 13.9 percent from the $191,710 average value two years ago.

Figures were similar for Missouri City, which saw an 8.7 percent increase in the average market value from one year ago, from $139,073 to $152,383, and a 15.5 percent increase from two years ago, when the average market value was $128,779.

From a national perspective, real estate in Houston is one of the strongest housing markets, according to a Wall Street Journal report, which in January released a ranking of 28 major U.S. metropolitan area housing markets. Houston was one of only two areas to be rated strong, meaning good job-growth prospects and moderate housing inventory in relation to sales. (Dallas also earned a strong rating.)

According to Metrostudy, a national housing tracking and consulting company, Houston added an average of more than 90,000 jobs each year for the past three years ending in March. During the 12 months ending in March, Houston added 80,100 jobs, for a 3.4 percent growth rate -- nearly 10 times the national job growth rate for the same period. Houston added more jobs in the 12 months ending in March than any other Metropolitan Statistical Area (MSA) in the nation.

"Houston's fundamentals remain among the strongest in the nation," said David Jarvis, director of the Houston region. "Robust job growth, especially in energy-related industries, has protected Houston from some of the negative effects of the volatile credit markets. Houston is attracting workers from other areas of the U.S. with high-paying jobs, an affordable cost of living and a diverse economy. As potential homebuyers review various markets across the country in search of a bargain, Houston will be a perennial candidate."

About Riverstone

Riverstone is a master-planned community in the heart of Fort Bend County near U.S. 59 and Texas 6, The Fort Bend Parkway and Texas 288. Numerous well-known production and customer builders are featured in the community, which is designed for 6,000 homes, 250 acres of lakes and 500 acres of open space. Housing styles range from affordable townhomes and single-family homes to $1 million homes on homesites as large as a half-acre. The Johnson Development Corp. is a major partner in the development. To learn more about the amenity-rich neighborhoods of Riverstone, see www.Riverstone.com.

About The Johnson Development Corp.

The Johnson Development Corp. is an award-winning residential and commercial land development company involved in premier projects including master-planned communities such as Sienna Plantation, Fall Creek, Riverstone, Woodforest, Tuscan Lakes, Edgewater and Silverlake in Houston, Texas, and Towne Lake, BridgeMill and Lake Arrowhead in Atlanta, Georgia. Established in 1975, known for innovative master planning and today one of the largest and most successful land developers in both Houston and Atlanta, Johnson Development has cultivated a strong reputation for vibrant, responsible development, with impeccably designed communities. For more information, visit www.johnsondevelopment.com.

Contact Information

  • For information contact:
    tania oshman
    713.523.6630 or 713.824.2282
    tania oshman public relations
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