Written Sales and Listing Inventory
Written Sales (Contracts Pending) for October were UP 23.8%. October 2008 = 126, October of 2009 = 156. This is good news. If you well recall, last year at this time, Wall Street was on fire and blood was gushing. We expect the sales in The Woodlands TX will be better over the next 6 months than last year during the same time.
Why?
Because, the economy, while not great, is better. It’s expected that the First Time Homebuyer Tax Credit will be extended and there’s a good possibility that a $6,5000 Tax Credit will be offered to people who are not first time homebuyers. This, along with other stimulus will shove the real estate market forward.
Listing inventory in November of 2008 was 813. This year, inventory is slightly less. On November 3rd, the MLS shows 783 Active Listings.
What does this mean?
When sales are UP and Inventory is down, it’s a healthier market. This is good for both owners and prospective buyers.
Here’s a picture. You can download this graph and the entire Market Report Collection HERE
Months Supply Of Inventory
Months Supply Of Inventory means, if no new properties came on the market, at current sales velocity, how long would it take before every house was sold. Real estate economists agree, 6 months of For-Sale Inventory represents a balanced market. Less = seller’s market, more = buyers Market.
In an earlier post, I shared Months Supply of Inventory by Price Range. This graph show the collective Months Supply Of Inventory for all prices ranges in The Woodlands. We’re in pretty good shape. The higher the sales price, the more supply there is.
You can download this graph and the entire Market Report Collection HERE.
Average Price Per Square Foot
Thought you might find this interesting. Watching the news, you would think that homes prices would be LOW DOWN! And they are, in many parts of the country. Just not in The Woodlands. This is a pretty simple chart. Prices are stable. If you’re looking for a steal, you’re gonna have to look elsewhere. Looking price it higher, just because, think twice.
You can download this graph and the entire Market Report Collection HERE
Which Real Estate Broker Does The Best Job For It’s Sellers?
The answer depends on what criteria you use, I suppose. If the primary criteria is, “Which real estate team sells their listings closest to the list price?”, then Prudential Gary Greene, Realtors is the answer.
The Average Sold Price in The Woodlands TX is just over $300,000. As you can see from the chart, our team averages around 3% more, net to the seller. That’s close to $10,000 per sale. A big deal don’t you think.
You can download this graph and the entire Market Report Collection HERE
Real Estate is Hyper Local
It’s interesting to study the statistics. Keep in mind, these numbers are a reflection of the past and include all price ranges, styles and designs. Do understand exactly what’s happening in your neighborhood and how market conditions effect your property specifically, you’ll want to consult with a high power, feet on the street, real estate agent.
Thanks for reading. Here’s another way to view all the Market Reports
