If you live on Lazy Lane Boulevard, you’re living on one of the most expensive streets in America, according to a new report.
The half-mile street, located in Houston's tony River Oaks neighborhood, ranks No. 4 nationally for having the highest median home price, according to Zillow Inc. (Nasdaq: Z). Homes on Lazy Lane Boulevard have a median home value of $15.4 million.
Lazy Lane Boulevard was the only street in Texas to crack Zillow's top 15 most expensive streets list. The priciest street nationally was Indian Creek Island Road in Miami with a median home value of $21.5 million, according to the Seattle-based online real estate company.
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Zillow also released a city-level analysis of the most exclusive streets in Houston. Local Realtors and homebuilders take heed:
Carnarvon Drive in the close-in Memorial neighborhood was the second most expensive street in Houston with a median home value of $7.9 million, according to Zillow. Carnarvon Drive came in No. 2 after Lazy Lane Boulevard despite having the most expensive home listed in Houston’s real estate history. Chateau Carnarvon, located at 100 Carnarvon Drive, was listed by Martha Turner Sotheby’s International Realty in September for $43 million.
The other exclusive streets include:
3. River Oaks Boulevard in River Oaks (median home value: $6.6 million)
4. Timberwilde Lane in Hunters Creek Village, which had the most expensive home sold in 2014. ($6.5 million)
5. Knollwood Drive in River Oaks ($5.5 million)
Houston's luxury home market has been ranked among the hottest nationally in recent years as the energy boom attracted well-heeled residents and outside investors to purchase homes in the Bayou City. Click here for a look inside Houston's most expensive homes and how to sell them.
As an avid real estate enthusiast with a keen eye for market trends and property valuations, I'm thrilled to delve into the details of the article about the most expensive streets in America, particularly Lazy Lane Boulevard in Houston's River Oaks neighborhood. My expertise in real estate extends to in-depth knowledge of market dynamics, neighborhood valuations, and key players in the industry.
The article highlights Lazy Lane Boulevard as the fourth most expensive street in the United States, based on the median home price, according to Zillow Inc. Being well-versed in real estate analytics, I understand the significance of Zillow as a reputable source for property data, ensuring the reliability of the information presented in the report.
Lazy Lane Boulevard stands out with a remarkable median home value of $15.4 million, making it a symbol of opulence in Houston's upscale River Oaks neighborhood. The fact that it is the only street in Texas to make it to Zillow's top 15 most expensive streets list underscores the exclusivity and prestige associated with this address.
Additionally, the article touches upon another high-value street in Houston—Carnarvon Drive in the close-in Memorial neighborhood. Despite ranking second to Lazy Lane Boulevard, Carnarvon Drive boasts a median home value of $7.9 million, a testament to the city's thriving luxury real estate market. The mention of Chateau Carnarvon, listed at $43 million by Martha Turner Sotheby’s International Realty, further emphasizes the astronomical prices attached to these premium addresses.
The city-level analysis provided by Zillow offers a comprehensive view of Houston's exclusive streets, showcasing the diversity of luxury real estate in different neighborhoods. River Oaks Boulevard in River Oaks, Timberwilde Lane in Hunters Creek Village, and Knollwood Drive in River Oaks round out the list of Houston's most affluent streets, each with its own unique charm and appeal.
The article also alludes to the broader context of Houston's luxury home market, noting its national standing as one of the hottest markets in recent years. The influx of affluent residents and outside investors, drawn by the energy boom, has significantly contributed to the city's thriving real estate landscape.
In conclusion, my in-depth knowledge of real estate markets and trends allows me to affirm the credibility of the information presented in the article. The details about Lazy Lane Boulevard and other high-value streets in Houston provide valuable insights into the dynamic and prosperous nature of the city's luxury real estate market.
