Entry level homes popular with Woodlands home buyers in May

Houston suburb also saw 97 homes worth $1M or more sold in May

RE/Max agent Ivan Arjona with the Woodlands (Re/Max, iStock)
RE/Max agent Ivan Arjona with the Woodlands (Re/Max, iStock)

Sales of entry-level homes in the Woodlands were popular with homebuyers in May.

The north Houston suburb saw a total of 131 homes sold in the $200,000-$399,999 price range, according to a Community Impact report.

It’s unclear if those Woodlands homes were bought by individuals or institutional investors, which have been flooding the Houston market to scoop up starter homes and turn them into rentals.

In 2021, companies and corporations made up 40 percent of Harris County’s existing home purchases.

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The average median home price in Harris County, whose seat is Houston, is $285,000. In Houston proper, the median home price is approaching $350,000.

The Woodlands also saw 97 homes sold for $1 million or higher in May, compared to 27 in April. In May, luxury homes in the Woodlands were among the most popular offerings in the Houston real estate market.

The greatest year-over-year increase in median home price was from May 2021 to May 2022 in the Woodlands’ 77384 ZIP code. That neighborhood saw the median home price increase 34 percent from $357,279 to $480,000, according to the report, which relied on data compiled by Woodlands RE/Max agent Ivan Arjona.

[Community Impact] – Karn Dhingra