First of all, we sincerely hope that you and your family are safe and sound, and that the storm simply caused no more than the best lights and fireworks display and a sleepless night for our little ones. If you are willing and able to support those in need, please do take the time to learn about, and join the different local efforts to collect food, clothes and basic needs for those that were not as fortunate as we are.
Spring Break did bring a little more activity to our area, and with plenty of inventory in the community, buyers are starting to shape up the cycle. Based on MLS stats as of today (04/20/2016), there are 877 properties active in the market, and 321 under contract (including Option Pending and Pending status). The sweet spot for Sold homes is 400K to600K, preferably with a pool.
Needless to say, these numbers represent a much different market that we experienced the last couple of years. However, we can tell you that we are starting to see a more doctors and medical professionals moving into the area - those physicians will ultimately staff the new hospitals along the North Medical Center (not exactly its official name, but thought I'd give it a try ;o) - this ultimately means that we expect a more active season through the summertime.
Activity around new construction has been interesting. Some builders have done very well in key locations, but some continue to struggle in shedding their inventory. Builders and even developers are getting creative with promotions (Bridgeland - owned by The Woodlands Development/Howard Hughes - offers free tolls for a year), creating an appealing opportunity for buyers. If you are looking for new construction, let us know before you go - we can potentially get you even more for your dollar.
Spotlight on new development:
- Pulte's Del Webb on FM-1488 - Active adult community, just opened on 04/02/2016 and has already sold 35+ homes. Our thinking is that they'll experience the same boom - if not more - as Bonterra in Woodforest, simply because of location and accessibility to key health providers. Key stinking point with the community is that it will have access to Research Forest, sharing the driveway with Stonebridge Church.
- Stillwater on People's Road - We have been monitoring this development (and the two others in the works) since it was pasture. Tom Cox's Gracepoint is playing the long game in this development with two key selling points: a) it's zoned to The Woodlands High School; and b) the projected opening of Gosling Road towards FM-1488 bordering the A&M Forest.
- DR Horton's Fosters Ridge - Interesting development on Old Conroe Road, in the 600-acre tract they assembled three years ago. One of their last communities in the area, Fosters Ridge is zoned to The Woodlands High School, although located a few miles north of FM-1488. Prices start dropping under $100/sqft once the home size exceeds 3000 sqft.