New home prices in The Woodlands keep rising

Photo: Melissa Phillip, Staff Luxury housing in The Woodlands.

For many Houstonians, the only way to afford a house is to 'drive until you qualify.' But those driving north can probably skip The Woodlands.

The median price of a new home in the planned community 27 miles north of downtown Houston hit $577,000, according to second-quarter data. That's up from $559,000 a year earlier.

Howard Hughes Corp., the Dallas-based developer of The Woodlands and Bridgeland, said its Houston communities have been resilient to the slowdown in local job growth.

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Rice Military/Washington Corridor

2010 median sales price : $345,000

2016 median sales price: $449,900

Percent change: 30.4 Rice Military/Washington Corridor

2010 median sales price : $345,000

2016 median sales price: $449,900

Percent change: 30.4 Photo: Houston Association Of Realtors Photo: Houston Association Of Realtors Image 1 of / 41 Caption Close New home prices in The Woodlands keep rising 1 / 41 Back to Gallery

And its recent strategy of offering builders more lots for "moderately-priced homes" -- those under $500,000 -- has led to more sales.

The average price for a an acre of residential land fell to $567,000 from $603,000 at the end of June.

New home sales in The Woodlands and Bridgeland were up 48.7 percent and 32.4 percent, respectively, during the first half of the year.

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The company also provided an update on its newest big project.

Infrastructure work has started on The Woodlands Hills, a planned community meant to be a more moderately-priced option to The Woodlands.

The city of Conroe approved its plans for The Woodlands Hills last year and the first phase of development will consist of 193 single-family lots, a model home complex and a 17.5-acre amenity center and community park.