The Woodlands' housing jumps into medical fieldThe Woodlands' housing jumps into medical fieldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=141672016-08-16T05:00:00Z2016-08-16T20:45:00Z

​​​THE WOODLANDS - Despite the oil and gas industry slump that began in early 2015, local real estate experts say the growing medical field is absorbing most of its effect on the housing market in The Woodlands.

However, while starter homes are moving quickly on and off the market, a surplus of luxury homes are at a standstill.

In The Woodlands, entry-level homes priced at $300,000 and below are in short supply and high demand, making that price range a seller’s market according to Vicky Fullerton, Realtor with RE/MAX-The Woodlands & Spring.

On the other end of the spectrum, a large inventory of high-end homes priced $500,000 and above are available but in low demand, putting that price range on the buyer’s side.

In 2015, houses spent an average of 48 days on market in The Woodlands; this year, that timeframe has jumped to 58 days, according to the Houston Association of Realtors​.

Between June 2015 and June 2016, the median sale price of homes in the 77382 ZIP code dropped 33 percent, while homes in the 77381 ZIP code dropped 22 percent, according to Heritage Texas Properties. 

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