A stunning new suburb is becoming the Bay Area’s hottest real estate spot, with prices soaring.
The suburb of The Woodlands near San Francisco is attracting young families being pushed out of the notoriously expensive city center.
Property prices in the area soared by 40 percent between February 2020 and the same month in 2024.
According to Zillow, the typical home in the area is currently worth $1.46 million.
The increase is in line with a general trend in the Bay Area, with buyers moving out of cities and purchasing property in suburban communities with good schools and more space.
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San Francisco home prices rose 19 percent over that same four-year period, a significant increase that far outpaces popular suburban areas.
The Walnut Creek neighborhood, adjacent to the Lime Ridge hiking area, also saw prices increase by 30 percent during the same period.
The Woodlands’ home prices soared most during the first two years of the pandemic, when work-from-home policies allowed the city’s higher-income workers to move to bigger homes with more green space.
While prices are still rising, rising interest rates have slowed buyer demand due to higher mortgage rates.
Homes in The Woodlands and Walnut Creek saw their values increase by about 4% between February 2023 and February 2024.
Dana Wilson, a real estate agent and longtime Woodlands resident, told the San Francisco Chronicle that prices have risen even further as residents who work from home have added home offices and outbuildings to their homes.
There are an elementary school, several middle schools and a high school in the vicinity.
Julie Lataro grew up in The Woodlands, returned there to raise her own children and now works at the local Valle Verde Elementary School.
Latarro told the Chronicle that she has watched prices rise since she and her husband bought their current home 12 years ago.
Most of the neighbors are from San Francisco and other cities, her mother said.
Homes in the woodlands have wide streets and beautiful green shoulders and range in size from approximately 1,800 to 2,300 square feet.
The area is within walking distance of large grocery stores such as Whole Foods and Safeway, as well as other amenities such as shopping centers.
Local resident Sharon Vanni said the area also attracts grandparents who want to live closer to their young grandchildren.
“I’ve never lost interest in The Woodlands,” she told the Chronicle.
