The luxury home market is thriving in The Woodlands

THE WOODLANDS, Texas - As beauty is perceived by the eye of the beholder, what defines a luxury home depends upon the perception of its owner. Luxury homes, as defined by the Texas Association of Realtors and others in the real estate industry, are those priced at $1 million-plus. However, many luxurious homes, depending on their location, may list for under that price point, according to Realtor Michele Flory, a Certified Luxury Home Marketing Specialist with RE/MAX The Woodlands & Spring. The RE/MAX LLC definition of a luxury home is “two and one-half times the average sales price for the ZIP code,” she said.

Despite the recent troubles faced by those in the oil and gas industry and the area’s dependence on that income stream, the number of luxury homes being bought and sold in The Woodlands area continues to rise, currently estimated at up by 41 percent year-to-date 2015 when compared to the same time frame in 2014.

“Our inventory for homes at the $1 million price point is up 47 percent from a year ago,” Flory said. “While about 26 percent of these homes are new construction, primarily in Carlton Woods, homeowners are continuing to take advantage of the market for pre-owned luxury homes as it is still very good at this price point.”

Scott Kesner, chairman of the Texas Association of Realtors, said in a statement that the Texas home market overall is seeing strong sales numbers. “Last year fell just short of being the best year ever in Texas real estate,” he said, “but 2015 has shown consistent year-over-year gains in both home sales and prices.” He added that if home sales continue at the current pace, 2015 could break the sales record set in 2007.

From gourmet kitchens to spectacular pools and outdoor living spaces, many custom-built homes include personal luxury elements requested by the individual client.

“What comes to mind when I consider some things incorporated into luxury homes are the famous 3,000-square-foot, three-story closet here in The Woodlands, which is complete with a champagne bar, and another home with a game room that could easily hold 50 people and includes a full-size bar, lounge area and a roof deck overlooking the golf course,” Flory said.

Flory, who attended the RE/MAX Collection Luxury Forum held recently in Dallas, said the speakers discussed many options for marketing a home, but her main takeaway from the conference centered on the use of the Internet.

“Since luxury homes are marketed like many of our other homes – on the Internet – we have to have great pictures, video tours, whatever it takes to get exposure there. In addition, Realtors need to connect with people on social media. To that end, RE/MAX is providing expanded online tools including theremaxcollection.com, a website devoted to luxury properties.”

That online presence also provides an outlet to many international buyers, Flory said, specifically citing clients from Canada. “We work with a lot of people coming from Calgary, one of our sister cities, which comes back around to the oil and gas industry,” she said. “There’s a lot of activity going on between Calgary and The Woodlands.”

For more information on the luxury market in The Woodlands, contact Flory at 713-256-4998 or visit the Michele Flory and Company website at micheleflory.com.