The real estate market in Victoria features a diversity of neighborhoods and a variety of homes that range in value from the low $100,000s to $1 million.
“We don’t have an abundance of $1 million properties, but there are quite a few homes in the $400,000, $500,000 and $600,000 price range,” says Lee Swearingen, president of the Victoria Board of Realtors. “Victoria is lucky to have attractive properties within the city as well as outside the city limits in rural settings.”
Swearingen says a lot of new people have moved into the community in the last few years, and that has actually caused a decrease in homes that are available.
“We haven’t suffered from the downturn in the market like many other cities have experienced throughout the nation,” he says. “A big reason is that we didn’t overbuild when times were good.”
Crossroads of South Texas
Victoria, the county seat of Victoria County, remains a regional hub for a seven-county area in Texas known as the Golden Crescent. Located in southeastern Texas on the Coastal Plain, the city and county are midway between the southern and eastern extremities of the Texas Gulf Coast.
Victoria is within proximity to Houston, San Antonio, Austin and Corpus Christi, earning it the nickname “Crossroads of South Texas.” Highways 87, 59 and 77 cross in Victoria to provide the city with a prime location for both economic and residential growth.
Meanwhile, Victoria is also rich in history and has a commitment to preserving its past. For example, in order to protect the aesthetic value of its downtown district, an ordinance was put in place in 2007 that prohibits new manufactured homes to be constructed within the historic district.
“Old Victoria is our downtown district filled with Victorian style homes, and there are now 100 homes inside our city that are on the National Register of Historic Places,” Swearingen says. “Plus more of the older homes continue to be renovated in the downtown area all the time.”
New Home Construction
As for newer neighborhoods in Victoria, Swearingen says Springwood is a subdivision that is currently built-out and has good resale values of houses priced at $250,000 and up.
“There is new home construction taking place these days in a few neighborhoods, including Terra Vista, Lake Forest and Tuscany,” he says. “Most of the new home construction in Victoria is resulting in properties that are priced $200,000 and up. The real estate market here remains decent, and is looking up even more for 2012.”
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