Is the Real Estate Market in The Woodlands cratering, treading water or something else?

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 on November 7, 2008

Real Estate Market Reports / The Woodlands, Texas / October 2008

We have good news and other news.

Listing Inventory is UP a bit. Nothing to worry or fret over.

Written Sales in October were down. This is what we expected after Hurricane Ike, the start of the Holiday Season, pre/post election and national economic concerns. Homes are selling, just fewer of them.

Average and Median Sold Prices are holding steady today and have risen over the last two years.

Months Supply Of Inventory = 5.2 Months. As you can see the from the pictures, this number and Days On Market are creeping upward. Also, the average List Price To Sales Price Percentage is slowly eroding.

Note: If you’re a seller, take aggressive measures to stage and merchandise your property, choose a listing agent who can broadcast market like Michael Phelps swims and position your pricing wisely and hyper competitively - qualified buyers are scarce, competing properties are plentiful. This is not time to test the market.

If you have any questions about what is happening in your neighborhood, give me a call: Ken Brand 832-797-1779

Here’s a complete collection of Real Estate Market Reports – Real Estate Market Reports For The Woodlands, Texas – October 2008, By Ken Brand (.PDF download)

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Article by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779

Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / has written 477 articles .

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{ 2 comments }

Erion Shehaj November 6, 2008 at 12:43 pm: “Good news and other news“, eh? Love it!

I think prospective buyers in the Houston Area as well as surrounding suburbia should realize that there is a difference between “sales are slow” and “prices are declining”. While year on year total number of properties sold in a particular month are down, prices are holding up and in some cases increasing. That's a strong testament to the strength of the local economy.
Erion Shehaj November 6, 2008 at 8:43 pm: “Good news and other news“, eh? Love it!

I think prospective buyers in the Houston Area as well as surrounding suburbia should realize that there is a difference between “sales are slow” and “prices are declining”. While year on year total number of properties sold in a particular month are down, prices are holding up and in some cases increasing. That's a strong testament to the strength of the local economy.