My friends, our real estate market has paradox personalities. Thankfully, there aren’t any fatal or cataclysmic manifestations and our real estate market is improving.
First – Sales are picking up. There were more sales in February than January, more in January than December, etc. It’s a trend. Propelled my seasonality, economic stimulus, the $8,000 First Time Home Buyer Tax Credit and compelling low mortgage rates, sales should continue to march upward through the summer. Amen.
Yes, there are fewer sales than last year. Generally, prices are stable. Yes, there have been price dips in some neighborhoods. No, prices have not plunged. (2 year snap shot included in the reports below.) Real Estate is hyper local in nature, to understand exactly what’s happening in your neighborhood, contact a savvy pro to report to you.
For February closings the Average Sold Price in The Woodlands was $326,688.
Average Number Of Days On Market for Sold Properties = 69 days. The Average Number Of Days On Market For Active Listings (unsold) is 103 days. Buyer behavior is telling seller’s, “If your property is merchandised beautifully, priced competitively and marketed powerfully, we’ll buy it. If not, we’ll ignore you.” Marketing is KEY.
Average List Price To Sales Price Ration = 94.6%.
Months Supply Of For Sale Inventory = 4.7 Months. Real Estate Economists believe that 6 to 7 months of inventory represents a balanced market. Less = Seller’s Market. More = Buyer’s Market.
In summary, my friends, homeowners across America would crawl across cut class to have market conditions like ours, paradox personalities and all.
Second – Forgive me for bragging. We have fantastic, hardworking real estate agents at Prudential Gary Greene, Realtors. Although the combined number of sales for all brokers in January and February 09′ are down compared to 08′, our sales are UP just under 10%. We lead all local brokers in market share. Year To Date, our team of Icons are responsible for 1 in every 4 sales in The Woodlands. (See Chart Below)
If you’re the number crunching type, you’ll find plenty of data below.
Our belief is that sales will accelerate into summer. The economic stimulus will gain traction, TV talking bobble heads will begin to share better news, people will feel more secure and begin spending again. Things will improve. We believe in optimism, enthusiasm, hustle and candor. If we can help you with anything, let us know.
Here’s the information in printed form.
Real Estate Market Reports – The Woodlands, Texas, March 4th 2009
