The Woodlands Real Estate Report
Months Supply Of “For Sale” Listing Inventory – July 7th, 2009
Numbers Are Tricky.
They can tell you a lot and they can fool you too. For example, you read articles, watch TV news bobble heads and listen to people talk about falling National Average Sales Prices, Housing Starts, Big City Foreclosure Reports, etc. The relevant reality is, real estate is hyper local. It doesn’t matter what is happening in Los Angeles, Phoenix or South Beach, what matters is what is happening in your neighborhood. Period.
This late afternoon, 5:22pm, I ran statistical Months Supply Of “For Sale” Listing Inventory reports using our Houston Association Of Realtors, Multiple Listing Service. This data is for single-family homes in The Woodlands TX. The Months Supply Of “For Sale” Listing Inventory for all price ranges is 6.5 months.
Here’s the by price range breakdown. Keep in mind; while this Polaroid provides a refined by-price-range picture, what’s happening in your neighborhood could be different. (Months Supply Of For Sale Inventory is how long it would take for the current For Sale inventory to sell if no new inventory came on the market and the velocity of sales remained the same.)
July 7th, 2009 – Months Supply Of For Sale Listing Inventory – The Woodlands TX
Price Range. . . . . . . . . Months Supply Of Inventory
$000,000 – $200,000 . . . . . . . . . . . . . . . . 3.8
$200,001 – $300,000 . . . . . . . . . . . . . . . . 5.6
$300,001 – $400,000 . . . . . . . . . . . . . . . . 6.4
$400,001 – $500,000 . . . . . . . . . . . . . . . . 8.4
$500,001 – $600,000 . . . . . . . . . . . . . . . . 6.0
$600,001 – $700,000 . . . . . . . . . . . . . . . 7.6
$700,001 – $800,000 . . . . . . . . . . . . . . 14.8
$800,001 – $900,000 . . . . . . . . . . . . . . 9.9
$900,001 – $1,000,000 . . . . . . . . . . . . . 17.3
$1,000,001+ . . . . . . . . . . . . . . . . . . . . . . 26.4
What’s It Mean?
According to real estate economists, 6 months supply represents a balanced market. A higher number means it’s leaning towards a buyers market, less of course would be a sellers market. Things that affect salability and competitive positioning of the property include, marketing, merchandising/staging/presentation and pricing. Tweak and amplify those three factors and you’ll be one of the successful sellers attracting a qualified buyer. Ignore one; two or three of the salability factors and the property will languish.
As I shared earlier, to understand what your specific situation is, give us a call @ 281-367-3531
Comments on this entry are closed.
{ 1 trackback }