Luxury home market seeks upgraded parks

Park has not been updated since its establishment
  • Properties near quality parks can see a 20 percent boost in value.
  • Luxury home values have recently declined in The Woodlands.
  • Homes more than 1,000 feet from parks also see a value benefit.

The Woodlands recently experienced a noticeable dip in luxury home values, with volatility in the oil and gas industries cited as the main reason. According to Deal Sikes & Associates, Houston properties located more than 1,000 feet from a premier city park can receive a positive valuation impact of 5 to 10 percent. Those properties adjacent to quality parks can experience a more than 20 percent boost in value. That’s good news for both buyers and sellers.