As a real estate expert in Montgomery County, TX, I am often asked about the average price per square foot for properties in this area. And it's no surprise - Montgomery County is a highly desirable location for homebuyers and investors alike. With its beautiful natural surroundings, strong economy, and excellent schools, it's no wonder that people are flocking to this county.
Location and DemographicsMontgomery County is located in the southeastern part of Texas, just north of Houston. It covers an area of 1,077 square miles and has a population of over 600,000 people.
The county is known for its diverse communities, ranging from small towns to bustling cities. The largest city in Montgomery County is The Woodlands, which has a population of over 100,000. The county is also home to a large number of affluent residents. According to the U. S.
Census Bureau, the median household income in Montgomery County is $76,000, which is significantly higher than the national average of $61,000. This means that there is a strong demand for high-end properties in this area.
Real Estate Market OverviewThe real estate market in Montgomery County has been steadily growing over the past few years. According to data from the Houston Association of Realtors (HAR), the number of homes sold in the county has increased by 5% from 2019 to 2020. Additionally, the median sales price has also increased by 4% during the same period. One of the main factors driving this growth is the strong economy in Montgomery County.
The county is home to several major employers, including ExxonMobil, Anadarko Petroleum, and Chevron Phillips Chemical. This has led to a steady influx of new residents, which has increased the demand for housing in the area.
Average Price per Square FootSo, what is the average price per square foot for properties in Montgomery County, TX? According to data from HAR, the average price per square foot for all residential properties in the county was $130 in 2020. This is a 3% increase from the previous year. However, it's important to note that this average includes all types of residential properties, including single-family homes, townhouses, and condos. When we look at specific types of properties, we can see that the average price per square foot varies. The average price per square foot for single-family homes in Montgomery County was $135 in 2020.
This is a 4% increase from the previous year. Townhouses and condos, on the other hand, had an average price per square foot of $120 in 2020, which is a 2% increase from the previous year.
Factors Affecting Property PricesThere are several factors that can affect property prices in Montgomery County. One of the main factors is location. Properties located in highly desirable areas, such as The Woodlands or Conroe, will typically have a higher price per square foot compared to properties in more rural areas. The size and condition of the property also play a role in determining its price per square foot.
Larger homes with more amenities will generally have a higher price per square foot compared to smaller homes with fewer amenities. Another factor that can affect property prices is the age of the property. Newer homes tend to have a higher price per square foot compared to older homes. This is because newer homes often have modern features and amenities that are in high demand.
ConclusionIn conclusion, the average price per square foot for properties in Montgomery County, TX is $130. However, this can vary depending on the type of property and its location, size, and condition.
As the county continues to grow and attract new residents, we can expect to see property prices continue to rise. If you're considering buying or investing in a property in Montgomery County, now is a great time to do so.