COMPILED BY VANESSA HOLT AND BEN THOMPSON
The $65 millionWaterway Landing project currently under construction for 2020 completion in East Shore includes 59 townhomes mostly geared toward a demo- graphic increasingly on developers’ radar—residents looking to downsize from large homes to a townhome residence. Waterway Builders principal John Bible said the town- homes are geared toward empty nesters looking for a simpler lifestyle and carry price tags starting at around $800,000. “A lot of our homeowners have homes in other loca- tions, so they appreciate the ability to have the grounds maintained by [a homeowners association] and literally lock and go,” he said. Bible said the demographic is likely to continue to grow. “As this community matures, there are so many people who have lived here for quite a while, and their lifestyles have changed,” he said. “I think we’re just at the cusp of this market becoming prevalent.” 5 Empty nesters downsizing to low-maintenance luxury townhomes starting at $800,000
6 Property tax appraisal protests increasing
Montgomery County’s home values and population have increased since 2015, in line with the number of property appraisal protests.
ON THE RISE
the market long.” Houston Metrostudy Regional Director Lawrence Dean said The Woodlands’ amenities and desirable location do not allow for much low-cost building within the township due to local land prices, but developers in neighboring areas continue to recognize demand in the lower pricing market. “In the areas surrounding The Woodlands, you still can increasingly get price points down below $300,000, and in the instances where that’s happening, those new homes and those communities are selling very, very well,” Dean said. Montgomery County home appraisal values have risen 11.1% from 2015-19, and residents’ appraisal protests have increased by more than 26% in that time, accord- ing to Montgomery Central Appraisal District data. The number of appraised properties grew by more than 20,000 since 2015, which MCAD Chief Appraiser Tony Belinoski linked to the increase in protests. “Anytime you have values increasing, the number of protests are going to increase,” Belinoski said. “As the population grows, and the number of new residential subdivisions that are added every year, well that’s another property that can protest for that year.” ADDITIONAL REPORTING BY ANNA LOTZ
Average market value in Montgomery County
Number of properties appraised Number of appraisal protests
2015
2015 2016 2017 2018 2019
$253,073
291,575
39,369
2016
$268,685
48,548
296,169
2017
$271,594
47,614
302,032
2018 2019*
$269,959 $284,668
47,644
308,526
53,233
315,599
*2019 VALUES ARE BASED ON PRELIMINARY DATA.
SOURCE: MONTGOMERY CENTRAL APPRAISAL DISTRICT/COMMUNITY IMPACT NEWSPAPER
7 Real estate experts say affordable housing in TheWoodlands area is scarce, but in high demand
Lower-cost homes remain in demand around The Woodlands area, regional housing experts said. The average market value of a home in The Woodlands Township has hovered around $400,000 since 2015, according to the Montgomery Central Appraisal District. “It is not just a Woodlands or a Houston issue, it is a statewide and national issue with more affordable homes,” said Vicki Fullerton, a broker associate with Re/Max The Woodlands and Spring. “We’re finding any homes—if they’re in good condition from [$150,000- $200,000]—if they’re on the market, they don’t stay on
The market for the $800,000- $1 million Waterway Landing townhomes in East Shore caters
to mature couples and other individuals looking for homes without high-maintenance requirements.
59 townhomes
2,891-4,529 square feet
Starting at $800,000
Amenities
Market values of residential properties (averages)
homes sold in The Woodlands area
Number of
Brick streets and drives
Gated access
Stone flooring
$200,000-$299,999
$150,000-$199,999
≤ $149,999
THEWOODLANDS
2015 2016 2017 2018 2015 2016 2017 2018 2015 2016 2017 2018
$399,307 $409,824 $399,969
455
452
431
424
Grounds mainte- nance provided
Membership to East Shore clubhouse
390
390
384
363
357
357
354
$397,686
334
321
OAKRIDGENORTH
Stainless steel appliances
$184,350 $194,911 $198,082 $195,285
73
75 6
67 7
64 11
66 6
63 8
63 6
62 7
61 11
60 13
SHENANDOAH
58 6
55 13
54 12
$343,556 $334,638 $349,792
4
$374,327
2018
2019
SOURCE:MONTGOMERYCENTRALAPPRAISAL DISTRICT/COMMUNITY IMPACTNEWSPAPER
SOURCE:WATERWAYBUILDERS/COMMUNITY IMPACTNEWSPAPER
SOURCE:HALEYGARCIAGROUP/COMMUNITY IMPACTNEWSPAPER
Conroe Funeral Directors A full-service family owned funeral home. Serving the community for 25 years • Traditional funeral services with burial or cremation • Nationwide Veteran Burials • Cremation with Memorial Service • Direct Cremation • Advance Funeral Planning Call 936-756-2210 or email us at conroefd@gmail.com for prices - no obligation.
1054 N. Thompson St. Conroe, TX 77301 www.conroefuneraldirectors.com Stephanie Powell - Funeral Director
Beautiful Historic Chapel available for funerals and memorial services.
43
The Woodlands edition • July 2019
Powered by FlippingBook