Conroe Real Estate Market Analysis for 2020

Hi friend! I know 2020 was an unprecedented year for everyone alive, but 2020 was an insane year in real estate, especially for the real estate market in the Greater Houston area. I was lucky enough to participate in the real estate market all of 2020, and it happened to be my greatest year, for which I am super grateful.

Today, I want to share with you what real estate looked like for 2020 by giving to statistics, and facts, with a dash of opinion and perspective. For this particular blog post, I will be focusing on Conroe, Texas. Let's dive in. 

Links to other real estate market analyses: Katy TexasThe Woodlands TexasCypress TexasConroe TexasKingwood TexasSpring TexasKlein TexasMagnolia Texas, and Montgomery Texas. P.S. Email me if you would like an analysis for a particular neighborhood!

Conroe Real Estate Market Analysis for 2020

In 2020, 3,295 3+ bedrooms were sold in the city of Conroe. The average year built for those homes was 2007. The average square footage was 2,438. The average sales price was $289,416. The most expensive home sold in 2020 was $11,797,504. The average price per square foot was $119. The average lot size was 21,562 square feet. The list price to sales price was 97.44%. The median days on market was 39 days. 1,415 homes sold in 21 days or less, with the median days on market for those homes was 7 days. 743 homes sold in 6 days or less.

Conroe vs. Other Area Markets

Compared to Katy:

name of city or neighborhood conroe, texas vs. katy,texas
how many 3+ bedrooms sold 3,295 6823
average year built 2007 2008
average square footage 2,438 2,734
average sales price $289,416 $329,927
price most expensive home sold $11,797,504 $2,225,000
average price per square foot $119 $117
average lot size 21,562 9,043
list price to sales price 97.44% 98.19%
average asking price $298,984 $297,491
median days on market 39 36
how many sold in under 21 days 1,415 3,711
median dom for homes sold under 21 days 7 6
how many homes sold in less than 6 days 743 2,077

Compared to The Woodlands:

name of city or neighborhood conroe, texas vs. the woodlands, texas
how many 3+ bedrooms sold 3,295 2067
average year built 2007 2000
average square footage 2,438 3264
average sales price $289,416 $536,842
price most expensive home sold $11,797,504 $6,000,000
average price per square foot $119 $154
average lot size 21,562 11,657
list price to sales price 97.44% 97.50%
average asking price $298,984 $558,787
median days on market 39 28
how many sold in under 21 days 1,415 1,085
median dom for homes sold under 21 days 7 6
how many homes sold in less than 6 days 743 607

Compared to Tomball:

name of city or neighborhood conroe, texas vs. tomball, texas
how many 3+ bedrooms sold 3,295 2143
average year built 2007 2008
average square footage 2,438 2,608
average sales price $289,416 $313,059
price most expensive home sold $11,797,504 $2,473,237
average price per square foot $119 $119
average lot size 21,562 13,500
list price to sales price 97.44% 98.44%
average asking price $298,984 $319,192
median days on market 39 24
how many sold in under 21 days 1,415 1,113
median dom for homes sold under 21 days 7 6
how many homes sold in less than 6 days 743 639

Compared to Cypress:

name of city or neighborhood conroe, texas vs. cypress, texas
how many 3+ bedrooms sold 3,295 4,058
average year built 2007 2008
average square footage 2,438 2845
average sales price $289,416 $338,158
price most expensive home sold $11,797,504 $1,816,425
average price per square foot $119 $118
average lot size 21,562 10,401
list price to sales price 97.44% 98.29%
average asking price $298,984 $345,551
median days on market 39 20
how many sold in under 21 days 1,415 2,248
median dom for homes sold under 21 days 7 5
how many homes sold in less than 6 days 743 1,307

Compared to Spring (6046 homes sold in all of "Spring", but data below excludes Spring ISD):

name of city or neighborhood conroe, texas vs. spring, texas
how many 3+ bedrooms sold 3,295 6046 (4951)
average year built 2007 2001
average square footage 2,438 2,813
average sales price $289,416 $323,259
price most expensive home sold $11,797,504 $2,435,000
average price per square foot $119 $113
average lot size 21,562 10,528
list price to sales price 97.44% 98.41%
average asking price $298,984 $329,469
median days on market 39 22
how many sold in under 21 days 1,415 2725
median dom for homes sold under 21 days 7 6
how many homes sold in less than 6 days 743 1478

Compared to Klein (Klein ISD):

name of city or neighborhood conroe, texas vs. klein, texas
how many 3+ bedrooms sold 3,295 4312
average year built 2007 1998
average square footage 2,438 2680
average sales price $289,416 $281,338
price most expensive home sold $11,797,504 $2,103,000
average price per square foot $119 $105
average lot size 21,562 9,836
list price to sales price 97.44% 98.50%
average asking price $298,984 $288,528
median days on market 39 20
how many sold in under 21 days 1,415 2449
median dom for homes sold under 21 days 7 6
how many homes sold in less than 6 days 743 1352

Compared to Kingwood:

name of city or neighborhood conroe, texas vs. kingwood, texas
how many 3+ bedrooms sold 3,295 1057
average year built 2007 1993
average square footage 2,438 2824
average sales price $289,416 $314,194
price most expensive home sold $11,797,504 $1,640,000
average price per square foot $119 $108
average lot size 21,562 11,213
list price to sales price 97.44% 96%
average asking price $298,984 $321,677
median days on market 39 27
how many sold in under 21 days 1,415 543
median dom for homes sold under 21 days 7 6
how many homes sold in less than 6 days 743 304

Compared to Magnolia:

name of city or neighborhood conroe, texas vs. magnolia, texas
how many 3+ bedrooms sold 3,295 1417
average year built 2007 2008
average square footage 2,438 2640
average sales price $289,416 $361,781
price most expensive home sold $11,797,504 $2,500,000
average price per square foot $119 $134
average lot size 21,562 48,579
list price to sales price 97.44% 98.15%
average asking price $298,984 $369,440
median days on market 39 40
how many sold in under 21 days 1,415 642
median dom for homes sold under 21 days 7 7
how many homes sold in less than 6 days 743 335

Compared to Montgomery:

name of city or neighborhood conroe, texas vs. montgomery, texas
how many 3+ bedrooms sold 3,295 1817
average year built 2007 2009
average square footage 2,438 2841
average sales price $289,416 $410,619
price most expensive home sold $11,797,504 $2,250,000
average price per square foot $119 $140
average lot size 21,562 27,598
list price to sales price 97.44% 97.94%
average asking price $298,984 $421,688
median days on market 39 49
how many sold in under 21 days 1,415 748
median dom for homes sold under 21 days 7 7
how many homes sold in less than 6 days 743 387

2019 vs. 2020

To really focus in on what happened in 2020, I decided to concentrate on homes between 2000 and 3000 square feet, and ones that went under contract in 10 days or less. The average sales price year over year, increased 9% from 2019 to 2020, with an average for all homes coming in at a 6.5% increase.

What has driven the market changes?

There are many things that have driven this change in market and most of them are probably obvious, so don't mind me here stating the obvious. The biggest factor for the increase in price, would have to be the low inventory coupled with the high demand. Low inventory, in some price points, has been an on-going problem since Hurricane Harvey hit in 2017. While Hurricane Harvey physically didn't affect Conroe much, I don't think the under $350k market, when looking at all of the Houston area, has truly recovered from the aftermath of that national disaster. And each year after that, I think the national political climate has contributed to seller's reluctance to sell. Low inventory is also a result of more investors holding on to properties, and investors entering our market, making it hard to a first time home buyer to get in. Cash is king in real estate, and this has been a huge problem, as financed offers (especially first time home buyers and FHA buyers) are struggling to have their offer selected. The other large factor, is the increased desire to live in Conroe. It has perfect proximity to The Woodlands and the airport, and is considered very affordable with lots of housing options. Most of the buyers in 2020 were relocation buyers, who were coming here for a new job opportunity, or for the pure fact that they were tired of their current home state. COVID-19 certainly had a huge impact on Conroe market. 

What should we expect for 2021 in regards to Conroe Real Estate Market?

In the past few months, the fastest selling neighborhoods in 2021 have been: Artavia, Barton Creek, Deer Trail & Deer Trail Two, Grand Central Park, Graystone Hills, Harper's Preserve, and Jacobs Reserve.

Let's compare 10/25/2019 - 2/14/2020 and 10/25/2020 - 2/14/2021 to predict what the real estate market in Conroe will look like for 2021.

466 (2000-4000 sqft) homes sold within the first bracket and 707 (2000-4000 sqft) homes within the second bracket. That is a NUM% increase.

$111 a square foot with a median days on market of 53 days compared to $121 a square foot with a median days on market of only 31 days. That is a 8.3% increase in price per square foot year over year!

If we look at January (to date) 2020 vs January (to date) 2021, we see this:

year 2020 vs. 2021
homes sold 788 1197
average price per square foot $114 $125
median days on market 41 25

As you can see, 2021 is off to an "on fire" start, which correlates with December being a record breaking month. That is almost a 8% increase from last year, and that days on market statistic, holy cow!

Big Take Aways

If you read nothing, but this paragraph, these are the take aways I want to share with you.

  1. Inventory is Conroe is extremely low for the demand, but sales are up from the last two years.
  2. The good homes go under contract within 3-6 days.
  3. You can expect multiple offers, especially if the home is remodeled.
  4. Homes under $350k are known to sell for $10k - $15k over asking price.
  5. If you are financing your home purchase, offers with 20% or greater, with no contingencies including an appraisal waiver, a shorter (limited) option period, and a quick close are your only leg up when winning compared to a cash offer.
  6. The prices are up anywhere from 5-15%, depending on location and square footage, compared to last year.
  7. You will be paying an ultimate premium to purchase a home with a pool.
  8. Working with a local lender and experienced real estate agent is key!

Conroe is Waiting for You

If you are looking to relocate to the area, we would love to meet you, and hear your story. Below you will find all of my contact information, as well as some homes for sale in the area. We truly look forward to hearing from you! P.S. Don't forget to check out our YouTube Channel!

We are Waiting for You

If you are looking to relocate to the Houston Area, we would love to meet you, and hear your story. Below you will find all of my contact information, as well as some homes for sale in the area. We truly look forward to hearing from you! P.S. Don't forget to check out our YouTube Channel!

If you are overwhelmed..

Now if you are feeling overwhelmed on where you should plant your roots, I would love to talk to you. You can schedule a call with me by click this link: http://byjoandco.com/call or just send us an email: [email protected].

There are some amazing communities all over the Houston suburbs. In this post, https://search.byjoandco.com/blog/best-neighborhoods-in-houston/, I deep dive into all the different suburbs/neighborhoods that you might want to consider, and why. There are many resources here, so please reach out if you are curious what to look at next! :)

Links to check out..

➟ Our YouTube Channel :: http://byjoandco.com/youtube
➟ How do property taxes work in Texas? :: http://byjoandco.com/propertytaxesintexas
➟ Things to do in The Woodlands :: http://byjoandco.com/inthewoodlands
➟ Safest Neighborhoods in Houston :: http://byjoandco.com/safesthouston
➟ Best Neighborhoods in Houston :: http://byjoandco.com/bestneighborhoods
➟ Houston Texas Where to Live :: http://byjoandco.com/houstontexaswheretolive

Thank you so much for trusting us.

- Jordan Marie Schilleci, REALTOR® & Owner, Jo & Co. Realty Group

What next?!

• Download our Moving to Texas ebook! http://byjoandco.com/movingtotexasebook.
• Download our Where to Live in Houston Texas ebook! http://byjoandco.com/wheretoliveebook.
• Schedule a phone call or appointment with us! http://byjoandco.com/appointment.
• Email us! [email protected].
• Looking for a buyer’s agent? Fill out our buyer questionnaire! http://byjoandco.com/q.
• Ready to find your dream home? Search, http://search.byjoandco.com.
• Subscribe to our YouTube Channel: http://byjoandco.com/youtube.

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