Benders Landing and Benders Landing Estates Real Estate Market:
2024 – A Year in Review
Welcome to my 16th annual Benders Real Estate Recap! The past five years have been a wild ride for the real estate market, and 2024 was no exception. After two years of declining single-family home sales, the Houston housing market saw a modest 1.3% rebound. However, Benders outpaced that growth with a 17% increase in home sales! With steady demand and more homes hitting the market, 2025 is shaping up to be another promising year for our neighborhood.
Mortgage rates were a hot topic in 2024. Many economists had predicted they would settle between 5.2% and 6.7%, but instead, the average annual rate was 6.7%, with peaks reaching 7.22%, higher than most had hoped. Still, despite fluctuating rates and rising home prices, many buyers who had been waiting on the sidelines finally made their move—literally! In Benders, 60% of our annual sales occurred in the second half of the year, showing a strong resurgence in buyer activity.
2024 Home Sales Recap:
Whether you’re considering selling, curious about your home’s value, or just like keeping up with the local market, let’s dive into some key real estate stats from the past year. See the chart below for a closer look at how Benders has performed!
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
| Average Days on Market (of homes sold) | 79 | 50 | 36 | 70 | 117 | 115 |
| Median home sales price | $1,192,500 | $1,175,000 | $1,094,750 | $932,500 | $755,000 | $731,625 |
| Avg. sales price/sq ft | $262.15 | $254.66 | $255.00 | $204.52 | $171.94 | $162.95 |
| Homes sold | 88 | 75 | 102 | 140 | 103 | 114 |
Market Activity & Pricing:
⦁ Days on Market increased 58%, now averaging 79 days, as buyers took a more patient and selective approach.
⦁ Median home sales price edged up 1%, reaching a new community all-time high of $1.19M.
⦁ Average sales price per square foot saw a moderate year-over-year increase to $262.15/sq. ft.
Sales Volume & Trends:
⦁ A total of 88 homes sold in 2024, marking a 17% increase from 2023 (75 sales). While encouraging, this remains below the pre-pandemic five-year average of 107 homes per year.
⦁ We’re starting 2025 on a strong note, with 18 homes currently on the market (still low by historical standards) and an impressive 13 homes under contract in January—a number that exceeds pre-pandemic norms for this time of year.
With this momentum and continued demand, 2025 is shaping up to be another active year for Benders real estate!
2024 Lot Sales Recap:
For the past four years, Benders has consistently started the year with low lot inventory (typically 8-13 lots for sale). While inventory increased by 25% compared to last year, the total number of available lots remains low, at just 10 on the market.
Market Activity & Demand:
⦁ The median Days on Market for active listings is currently 88 days.
⦁ Most lots sold over the past 4-5 years have gone to buyers who immediately built homes, rather than investors holding them for future development. This has significantly reduced the number of remaining undeveloped lots in Benders.
Sales & Pricing Trends
⦁ Lot sales declined 6% year-over-year, but this reflects limited inventory and individual lot desirability, rather than a lack of buyer demand.
⦁ Median sales price for a 1-acre interior lot rose 6% in 2024 to $375K.
⦁ Average Days on Market increased by 9%, as buyers became more selective in their purchases.
With the supply of undeveloped lots shrinking, land values in Benders are likely to remain strong. If you’re considering selling a lot, now may be an excellent time to take advantage of the continued demand!
Real Estate Outlook for 2025:
As we head into 2025, there are encouraging signs that the market is gaining strength:
- Mortgage Rates & Affordability: While earlier predictions suggested a significant drop in rates, experts now believe they will moderate but not decrease substantially. According to Bankrate, “Affordability will likely remain a challenge in 2025,” meaning buyers will continue to adjust to this new normal.
- Market Momentum: NAR Chief Economist Lawrence Yun notes that “home sales momentum is building,” thanks to job growth, increased inventory, and buyers adapting to mortgage rates hovering between 6% and 7%.
- Inventory Levels: Currently, 18 homes are on the market, up slightly from 16 last January but still below the pre-2020 January average of 29 homes. This low supply continues to favor sellers.
- Buyer Trends: The National Association of Realtors® reports that today’s homebuyers tend to be older and wealthier than in past years. This is especially relevant for Benders, where the majority of home sales exceed $1M.
- Surging Buyer Activity: Perhaps the most exciting sign of market strength is early 2025 buyer activity—13 homes have gone under contract in the first four weeks of January, a 63% increase from last year!
While affordability challenges will persist, mortgage rates are expected to stabilize or slightly decline as inflation cools and the Federal Reserve potentially eases monetary policy. Price growth will likely slow, but in high-demand neighborhoods like Benders, competition may remain strong.
Advice for Buyers & Sellers in 2025:
As I always say, “Marry the house, date the rate!” You can always refinance when—not if—rates drop. If you’ve been waiting for the right time to buy, 2025 could offer opportunities as inventory grows and price appreciation slows.
For sellers, first impressions matter more than ever. Buyers are becoming increasingly selective, so well-maintained homes stand out. Many Benders homes are approaching the 20-year mark, and small updates can make a big impact:
✔️ Fresh paint
✔️ New carpet
✔️ Modern lighting & updated plumbing fixtures
Additionally, outdoor living spaces—such as covered patios, outdoor kitchens, pools, and privacy-friendly backyards—remain major selling points in our neighborhood.
Let’s all continue to take care of our properties and our wonderful community—it benefits us all! I look forward to seeing how the market unfolds this year, and as always, please reach out if I can assist you in any way!
Christine Richards, Benders Resident and Realtor
MBA, ALHS, CHMS
145+ Benders Properties Sold
Top Producer 2011-2024
Keller Williams Realty The Woodlands
Cell: 832-866-6122
Christine@richardsrealtygroup.com
www.richardsrealtygroup.com