The Woodlands, Magnolia and Houston housing markets are still going strong, despite the setbacks of Hurricane Harvey and the seasonal dip in activity typical of the winter months. Our housing market is very resilient, which points to the strength of our local economy, the ever-growing medical industry, and the long-standing oil and gas companies. Approximately 43,000 jobs were created in the Houston metro area last October, the largest single-month gain ever according to the Texas Workforce Commission. It also points to the national recognition this area receives, as The Woodlands is known outside of Texas as one of the best planned communities in the nation.
Market recovery from Harvey occurred much faster than any experts could have predicted. Usually, after a natural disaster, it takes at least a year for the market to bounce back to pre-disaster levels. However, the greater Houston area has already seen that rebound and is expected to grow at a rate of 2.8% this year.
Our community is also seeing a trend for increased demand of homes in the upper-end price ranges. Demand is strong for houses priced at $750,000 and above, and The Woodlands market has inventory in this area.
What does this mean for sellers? Competition among sellers is strong, which means that separating your home from the pack is imperative. Especially call out any unique design features, any new appliances or renovations, and special neighborhood amenities. Work carefully with your realtor to stage your home’s interior. Don’t neglect the exterior just because the weather is cold, prospective buyers will envision themselves in your home during all seasons, particularly the hot ones.
Buyers should consider acting now, while inventory is higher and fewer buyers are in the market. Beginning next month, more buyers will begin looking so if the time is right for you, don’t delay.