With the new decade beginning, and thus the old ending, many are looking forward to a fresh start in this exciting new time! Texas as a whole has grown substantially in populations. And out of the 254 counties in Texas, Montgomery County ranks No. 11. The population has increased by 28.6% since 2010. That’s an increase of over 130,000 people. North Houston is booming, The Woodlands was recently dubbed the 4th best city to live in. As more people flood the market, more changes will come. So, let’s look at a few of the trends are expecting to see in this area throughout the coming decade.
As the decade comes to a close, so does the capacity of The Woodlands for new home builds. Families looking to move into The Woodlands have many different variables to consider, and those looking to build a new home may actually be forced to look outside of the city limits. Single-family residential lots are nearing a complete build-out. This means that, residentially, The Woodlands has almost reached its full potential for development. But, there are several close areas in which they can seek land for purchase.
Due to the completion of the Grand Parkway, we are expecting a huge influx of homes into that currently undeveloped area. Not only is it minutes from the amenities of The Woodlands, but it’s closer to Houston and I-45. In fact, A 2018 regional demographic report by demographics firm ‘Population and Survey Analysts’ projects more than 3,000 housing occupancies in the next ten years of the area surrounding Grand Parkway and east of I-45 in Spring.
Redevelopment has become another large part of new home builds within The Woodlands. Due to an increasing number of interested homeowners, it is becoming more and more common to see homes replaced with newer models. Homes in Grogans Mill, Cochran’s Crossing, and Panther’s Creek have an average age of 41 years. As these and surrounding homes age in the next decade, we will expect to see more redeveloped areas.
For families looking to move into The Woodlands, they will be looking at prices around an average of $400,000 per home. In the area, it is exceedingly rare to find centrally located low-cost housing in the $150-$300,000 range. However, for those looking just outside The Woodlands, many are finding new homes at prices below $300,000. This trend should increase heavily within the next decade!
Many homebuyers try to save money by skipping the realtor and using their own knowledge and the internet to buy a home. However, the buyer actually does not pay the commission to the realtor! The commission is already included in the contract and is therefore already part of the price of the home. This is especially important when building a new home. Using an experienced realtor can save you more money, time, and headaches than any other avenue. So, if you’re looking to find a new home, just reach out! We can help.