One thing to keep in mind about our local College Station real estate market is that a very large percentage of it is related in some way to the university. I went back and looked at all of my transactions this year, and approximately 80% of them involved a connection to the A&M system. They were either parents of students, former A&M students looking for gameday housing, or employees of Texas A&M.
Many of these people want to live in close proximity to the university. As an investor, this has always been a sound strategy. The Eastgate area is the area directly across from the main entrance to campus off of Texas Ave. It is in the area behind Chillis restaurant. I would say it even stretches all the way back to the sorority houses. The homes in this area were built as early as the 1930’s and up until the 1990’s. I consider Eastgate a very good investment. There is a neighborhood park with a public swimming pool. There is also an excellent elementary school which both of my kids attended. Many of the homes have been remodeled, and some are actually tear downs with new construction. I did some research and found the following statistics quite interesting:
*2010 Average sold price per square foot in this area- $100.88
*2012 Average sold price per square foot so far in this area- $111.80
I expect this trend to continue in the coming years.
