The Woodlands Texas 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 The Woodlands, 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!

button for the moving to the woodlands ebook

The Woodlands Real Estate Market Analysis for 2020

In 2020, 2067 3+ bedrooms were sold in the master planned community of The Woodlands. The average year built for those homes was 2000. The average square footage was 3,264. The average sales price was $535,842. The most expensive home sold in 2020 was $6,000,000. The average price per square foot was $154. The average lot size was 11,657 square feet. The list price to sales price was 97.5%. The median days on market was 28 days. 1,085 homes sold in 21 days or less, with the median days on market for those homes was 6 days. 607 homes sold in 6 days or less.

The Woodlands vs. Other Area Markets

Compared to Katy:

name of city or neighborhood the woodlands, texas vs. katy, texas
how many 3+ bedrooms sold 2067 6823
average year built 2000 2008
average square footage 3264 2,734
average sales price $536,842 $329,927
price most expensive home sold $6,000,000 $2,225,000
average price per square foot $154 $117
average lot size 11,657 9,043
list price to sales price 97.50% 98.19%
average asking price $558,787 $297,491
median days on market 28 36
how many sold in under 21 days 1,085 3,711
median dom for homes sold under 21 days 6 6
how many homes sold in less than 6 days 607 2,077

Compared to Tomball:

name of city or neighborhood the woodlands, texas vs. tomball, texas
how many 3+ bedrooms sold 2067 2143
average year built 2000 2008
average square footage 3264 2,608
average sales price $536,842 $313,059
price most expensive home sold $6,000,000 $2,473,237
average price per square foot $154 $119
average lot size 11,657 13,500
list price to sales price 97.50% $98.44
average asking price $558,787 $319,192
median days on market 28 24
how many sold in under 21 days 1,085 1,113
median dom for homes sold under 21 days 6 6
how many homes sold in less than 6 days 607 639

Compared to Cypress:

name of city or neighborhood the woodlands, texas vs. cypress, texas
how many 3+ bedrooms sold 2067 4,058
average year built 2000 2008
average square footage 3264 2845
average sales price $536,842 $338,158
price most expensive home sold $6,000,000 $1,816,425
average price per square foot $154 $118
average lot size 11,657 10,401
list price to sales price 97.50% 98.29%
average asking price $558,787 $345,551
median days on market 28 20
how many sold in under 21 days 1,085 2,248
median dom for homes sold under 21 days 6 5
how many homes sold in less than 6 days 607 1,307

Compared to Conroe:

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

Compared to Kingwood:

name of city or neighborhood the woodlands, texas vs. kingwood, texas
how many 3+ bedrooms sold 2067 1057
average year built 2000 1993
average square footage 3264 2824
average sales price $536,842 $314,194
price most expensive home sold $6,000,000 $1,640,000
average price per square foot $154 $108
average lot size 11,657 11,213
list price to sales price 97.50% 96%
average asking price $558,787 $321,677
median days on market 28 27
how many sold in under 21 days 1,085 543
median dom for homes sold under 21 days 6 6
how many homes sold in less than 6 days 607 304

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

name of city or neighborhood the woodlands, texas vs. spring, texas
how many 3+ bedrooms sold 2067 6046 (4951)
average year built 2000 2001
average square footage 3264 2,813
average sales price $536,842 $323,259
price most expensive home sold $6,000,000 $2,435,000
average price per square foot $154 $113
average lot size 11,657 10,528
list price to sales price 97.50% 98.41%
average asking price $558,787 $329,469
median days on market 28 22
how many sold in under 21 days 1,085 2725
median dom for homes sold under 21 days 6 6
how many homes sold in less than 6 days 607 1478

Compared to Klein (Klein ISD):

name of city or neighborhood the woodlands, texas vs. klein, texas
how many 3+ bedrooms sold 2067 4312
average year built 2000 1998
average square footage 3264 2680
average sales price $536,842 $281,338
price most expensive home sold $6,000,000 $2,103,000
average price per square foot $154 $105
average lot size 11,657 9,836
list price to sales price 97.50% 98.50%
average asking price $558,787 $288,528
median days on market 28 20
how many sold in under 21 days 1,085 2449
median dom for homes sold under 21 days 6 6
how many homes sold in less than 6 days 607 1352

Compared to Magnolia:

name of city or neighborhood the woodlands, texas vs. magnolia, texas
how many 3+ bedrooms sold 2067 1417
average year built 2000 2008
average square footage 3264 2640
average sales price $536,842 $361,781
price most expensive home sold $6,000,000 $2,500,000
average price per square foot $154 $134
average lot size 11,657 48,579
list price to sales price 97.50% 98.15%
average asking price $558,787 $369,440
median days on market 28 40
how many sold in under 21 days 1,085 642
median dom for homes sold under 21 days 6 7
how many homes sold in less than 6 days 607 335

Compared to Montgomery:

name of city or neighborhood the woodlands, texas vs. montgomery, texas
how many 3+ bedrooms sold 2067 1817
average year built 2000 2009
average square footage 3264 2841
average sales price $536,842 $410,619
price most expensive home sold $6,000,000 $2,250,000
average price per square foot $154 $140
average lot size 11,657 27,598
list price to sales price 97.50% 97.94%
average asking price $558,787 $421,688
median days on market 28 49
how many sold in under 21 days 1,085 748
median dom for homes sold under 21 days 6 7
how many homes sold in less than 6 days 607 387

2019 vs. 2020

To really focus in on what happened in 2020, I decided to concentrate on homes between 3000 and 4000 square feet. The average sales price year over year, increased 10% from 2019 to 2020, with an average for all homes coming in at a 6% 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 The Woodlands much, I don't think the under $600k 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 The Woodlands. It is thought of as a bubble, has perfect proximity to Downtown Houston and the airport, and is considered very affordable for all the amenities and luxuries it has to offer. 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 The Woodlands market. 

button for the woodlands map with villages

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

Let's compare 8/24/2019 - 1/24/2020 and 8/24/2020 - 1/24/2021 to predict what the real estate market in The Woodlands will look like for 2021.

222 (3000-4000 sqft) homes sold within the first bracket and 271 (3000-4000 sqft) homes within the second bracket. That is a 22% increase.

$143 a square foot with a median days on market of 46 days compared to $156 a square foot with a median days on market of only 28 days. That is a 9% increase in price. 

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

year 2020 vs. 2021
homes sold 60 70
average price per square foot $141 $161
median days on market 71 21

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 13% 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 The Woodlands is extremely low.
  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 $500k are known to sell for $10k - $20k 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 6-15%, 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!

The Woodlands 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 one-of-a-kind 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.
• 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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