Click HERE to download the full Top Performers Report.
October Sales Slip 12%. Sales Year-To-Date Total 2,243, a slight 6.1% Less Than the 2014 Year-To-Date Total of 2,389.
Everyday, from now till the end of the year there will be listings that go under contract and new listing added to the market. Due to historical seasonality trends, we anticipate that the total numbers for each will be smaller in November and December.
The picture below shows Listing Inventory and Listings Placed Under Contract, by price range and month.
Selection Is Fabulous For Buyers. Competition Is Fierce For Sellers.
As we roll into fall and winter we can expect listing inventory inventory to remain high and buyer activity to ebb November,December and January.
For Buyers: Selection is the best it’s been in several years.
For Sellers: If ever there was time to adjust your competitive position in the market place, now is the time. Right now. November, December and January generally total the fewest number of sales of the year.
Buyer’s Market or Seller’s Market?
Year Over Year Comparisons.
Home prices and appreciation hold steady.
Selection for buyers = locked into Fabulous-Mode.
Competition for sellers remains fierce. Expect longer Days On Market and tough negotiations. Merchandising, presentation and Transmedia marketing are a must. Follow through and follow-up will be critical in moving from showing, to contract, to closing.
The Whole Burrito.
Click HERE to download the full Home Sales Report for The Woodlands.
Click the picture below to view the report.
Here’s What’s Going On In The Woodlands Real Estate Market.
The Average List Price in The Woodlands = $796,139
The Average Under Contract Price this month = $453,022
The Median List Price in The Woodlands = $499,900
The Median Under Contract Price this month = $325,000
The reason for the big difference between the Average and Median Listing Prices and Under Contract Prices is that 168 of the 955 homes for sale are priced over $1,000,000. The highest priced home in The Woodlands is listed for $15,000,000 in Carlton Woods. A high number of high price homes skews the Average List Price numbers upward..
With 922 homes on the market, buyers are enjoying the best selection in years. Last year at this time there were 680 homes to choose from. While more selection is great for buyers, sellers face a more competitive market place.
155 listings have gone Under Contract this month. At this current velocity, October sales should top out at 184. Last October there were 197 sales. Sales will trail last Octobers slightly higher total by about 6.5%.
Overall it’s a positive market and will most likely close out as the third best year in the history of The Woodlands.
That’s the story friends – cheers:-)