Market Update: The Woodlands, TX
While taking a look into the 4th quarter Real Estate Market Report for The Woodlands, TX, it seems that prospective buyers may be in favor as we progress through the later winter months. Prospective buyers from across the state, country, and world could expect a drop in current market prices, as well as plenty of selection while browsing homes within the area. The Woodlands long-term economy is also predicted to grow, creating an even bigger incentive to purchase within the already desirable community.
Set on the outskirts of Houston, The Woodlands represents one of the top master-planned communities in the nation. Appealing to both families, career-oriented individuals, and those looking to plan their retirement, interested buyers have been coming from across Texas and other states, as well as internationally. Recently voted the ‘#2 city to raise a family in’ in America, The Woodlands is one of Texas’ finest places to live and a hot spot for luxury real estate.
Plenty of inventory is currently available throughout the highly sought-after Montgomery County suburb. This provides buyers with ample variation/selection, however, sales prices (on average) have experienced a slight decrease over the last quarter because of this. This increase in available housing inventory has also reflected in an increased number of average days on the market and in turn a decrease in the average sale price.
While looking towards the future of The Woodlands, the long-term economy is predicted to thrive. Home to several Fortune 500 companies and over 2,000 businesses that employ more than 67,000 people, job growth in The Woodlands has increased by 17% in just 5 years. With a recent acquisition of 2 major waterfront towers by the Howard Hughes Corporation, including a long term lease by Occidental Petroleum, this number is expected to climb. In addition the multinational tech company typhoon, HP has also moved in, helping to create even more future jobs within the area.
Whether you’re buying or selling, the global marketplace for luxury real estate is always changing. We have analyzed the latest reports from our Luxury Affiliates to keep you up to date on current market trends. This Luxury Market Report for The Woodlands has been provided by The Mike Seder Group.
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