Acreage and Vacant Lots Around Lake Conroe Values On The Rise

Million Dollar Acreage Around Lake Conroe

Million Dollar Acreage Around Lake Conroe

Recent sales of vacant lots around Lake Conroe have been very active. Builders are buying these lots and starting construction right away in many established neighborhoods.

As a result their values have been jumping up! I can tell you that within a quarter of a mile of my home in Walden on Lake Conroe 9 vacant lots have been bought up by builders and new homes constructed. All have been sold – all within about 9 months!

The sold prices of these lots have been rising dramatically. Now is a great time if you want to sell your vacant lot in either Walden or just about any of the magnificent neighborhoods around Lake Conroe!

Similarly, acreage properties values have been rising. Many such properties have been bought and are being developed into commercial and residential developments. Others are destined to become shopping centers, convenience stores (see photos below), retail stores, fast food restaurants, and more. All this is going to add more service industry jobs to the area as it develops.

Just out of curiosity I went to the HAR.com website and searched for vacant properties and acreage priced over $1 million.  I got ten results within a half mile of Lake Conroe:

Commercial Property For Sale on Hwy 105 W

Commercial Property For Sale on Hwy 105 W

– 6.09 Acres on McCaleb Road $1,061,645

– 3.45 Acres on FM 1488 $1,180,000

– 1.69 Acres on Diamondhead Road $1,250,000

– 0.45 Acres on Benthaven Court $1,350,000

– 2.60 Acres on Marina Drive $1,350,000
– 0.71 Acres on Benthaven Isle $1,600,000
– 17.84 Acres on FM 1097 $1,777,000
– 1.03 Acres on Promenade $1,825,000
– 19.97 Acres on Highway 105 W $4,611,265
– 24.04 Acres on Highway 105 W $6,700,000
Convenience store to be built on Walden Road

Convenience store to be built on Walden Road

From the Cypress Creek Mirror regarding vacant lot sale, their value and home sales so far in 2014:
Jim Gaines, Ph.D., economist with the Real Estate Center at Texas A&M University, explained, “The development of new homes and vacant lots is on the rise throughout Texas, and as a result we’re seeing much-needed gains in inventory. That said, Texas is still facing an inventory shortage. A steady, ongoing supply of new housing stock – particularly in the first-time and move-up buyer market, where a majority of home sales volume occurs – will be crucial to Texas housing market growth in the second half of 2014 and in the future.”
As more vacant commercial and residential acreage and lots become available the housing inventory will catch up to demand. As a result the amount of sales throughout Texas and Montgomery County (one of the fastest growing metropolitan areas in the US) will continue to skyrocket!
This is no exaggeration. In the second quarter of 2014, Texas home sales increased 46.67 percent from the first quarter of 2014 and 1.13 percent year-over-year to 81,272 Texas homes sales. In the same time frame, the median price for Texas homes increased 5.87 percent from 2013-Q2 to $187,300 and average price increased 5.28 percent year-over-year to $246,209.

For all your Montgomery County Real Estate Needs contact the Michelle Wheeler Team
Wayne Stroman, Broker
Lake-Conroe-Realtors.com TREC Lic. 0416282
Call the Property Desk at 936-588-7004
Sales Office: 14500 HWY 105 W, Conroe, Texas 77304
Mail to: PO Box 2991, Conroe, Texas 77305
Sales: 936-588-4444
Fax: 936-588-4884

Listing and Sales Agent

Michelle Wheeler
Lake Conroe Area Team Leader

Real Estate Listing and Sales

Wayne Stroman
Lake-Conroe-Realtors.com Broker

 

 

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