Housing boom hits Magnolia, Tomball | Housing boom hits Magnolia, Tomball | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=5755 | 2013-11-12T14:51:00Z | 2013-11-12T00:00:00Z |
MAGNOLIA, TOMBALL - In second quarter 2013, there were 1,648 new homes under construction in Magnolia and Tomball, compared to 1,196 homes in 2Q 2012, said David Jarvis, Houston director for Metrostudy.
The housing boom is attributed to the area’s explosive population growth during the last decade, which has meant a shortage of resale homes. Energy companies moving to the area such as Baker Hughes and Noble Energy have also fueled growth.
“New construction has really kicked in to high gear; builders are feeling a lot more confident in the last year and a half,” said Rick Raanes, a realtor with Keller Williams in Magnolia.
In Tomball and Magnolia, the average days on the market for a resale home has decreased to 33 days from 49 days last year, according to the Houston Association of Realtors’s MLS.
Sales of single-family resale homes in Tomball and Magnolia have increased in 2013 to an average price of $242,900 from $212,710 a year ago. The number of resale homes that have sold from January 2013 to October 2013 has increased to 2,095 from 1,638 during the same period in 2012.
The greatest growth in new housing sales is in the areas near The Woodlands, said David Hageman,a realtor with Century 21 in Tomball and Magnolia.
Top Ten Current & Future Housing Developments*
Development
Name |
# of
Homes |
Address |
Woodforest |
5,500 |
101 Elk Trace Pkwy., Montgomery |
Wildwood at Northpointe |
2,000 |
Hwy. 249 and Northpointe Blvd., Tomball |
Toll Brothers |
900 |
FM 2978 and Spring Creek, Montgomery |
Hayden Lakes |
588 |
Hwy. 249 / Boudreaux Rd., Tomball |
Durango Creek |
350 |
6703 Durango Creek Dr., Magnolia |
Raleigh Creek |
340 |
12600 Zion Rd., Tomball |
Cypress Trails |
300 |
11643 Brentcross Dr., Tomball |
Lakes of Magnolia |
300 |
Friendship Dr. and FM 1774, Magnolia |
Willowcreek Ranch |
160 |
19744 Telge Rd., Tomball |
The Reserve at Spring Lakes |
95 |
Zion Rd. and Ulrich Rd., off Hwy. 249, Tomball |
*ranked by number of homes
| Community Impact Newspaper
| Houston-The Woodlands-Sugar Land
| Housing
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