Will a $2 million price reduction help lure a buyer to the priciest listing in The Woodlands?

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Will a $2 million price reduction help lure a buyer to the priciest listing in The Woodlands?
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The Woodlands' priciest listing has everything, except a buyer. Will a $2 million reduction help?

. There is a"gentleman's lounge," a wine room, an arcade gaming lounge, a theater, a 1950s-style diner and outdoor entertaining spaces poolside.

"It really is built for entertainment," said Surpreet Singh, the son of owner Surinder Singh."There's a bar on every floor. It's spacious for socializing. It's not quite our lifestyle. Our lifestyle is quite family-oriented, to the point we spend a lot of our time in the kitchen or in the family room.", listed the property for $15 million last year at a time, amid the pandemic, the high-end residential real estate market was still experiencing a boom.

for the three months ended Jan. 31. The report attributed the trend to a decline in luxury purchases during times of economic uncertainty, coupled with a steeper fall in luxury home sales, which rose at a greater rate than moderately priced homes during the upswing. Singh said the home was priced based on the pandemic housing market, when inventory was tight and sellers were frequently seeing. A listing for the property on Zillow shows it was listed in April 2022 for $15 million, with the price reduction coming in August.

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