As our Houston economy bulls forward, construction cranes come down and thousands of new neighbors, family and friends in-tow, begin to pour to work, live and play in shiny new office buildings, hip restaurants and retail centers, we expect demand for housing to surge forward, pushing 2015 prices and opportunity upward. There will be winners and losers.
Homes For Sale Listing Inventory = Supply
As you can see from the MLS data above, inventory and selection for buyers began to improve in April. In addition to improved selection in the resale market, new home builders are opening neighborhoods and adding inventory/selection for buyers and competitive pressure for resale sellers. 2015 demand will out pace supply and prices for both will continue to rise.
Sales Written = Demand
Year-to-date sales trail last years ever so slightly, supply and demand factors continue to press home prices higher and keep The Woodlands real estate market padlocked in a strong seller’s-market mode.
Supply and Demand = Higher Home Prices
According to real estate economists a six-month supply of For Sale inventory represents a balanced market between sellers and buyers. Over six months of inventory indicates a buyer’s market, below six months indicates a sellers market. Look at what’s happening in The Woodlands by price range
In-The-Know Sold Price Info For 2014
Average Days On Market (DOM) for sold listings remains swift for well merchandised and professionally marketed properties.
35 DOM in 2013
34 DOM in 2014
Average Sold Price To List Price Percentage will remain high.
98% in 2013
98% to 2014
Average Median and Sold Prices Continue To Vine Upward.
Q. When’s the best time to sell?
A. Choosing the best time to sell depends on factors unique to you.
If you’re selling to move-up to something more expensive, rising prices will lift the price of the home you want to buy higher than the home you’re currently living in. If you’re moving up, waiting will cost you more.
The sooner you sell your less expensive property and buy the more expensive property the more you save on the home you’re buying and profit from rising prices. To leverage this seller’s-market contact your trusted Gary Greene real estate Pro. You can count on us.
If you’re selling a more expensive property to move into something less expensive you have the luxury of time. Rising prices will push the price of your more expensive property higher than the less expensive property you will be buying. Rising home prices and time to find the perfect next home is your friend.
To discuss current market conditions in your specific neighborhood and to begin your search for the perfect next home, contact your Gary Greene Real Estate Pro. We put the know in knowledge.
Q. If I sell my home will I be able to find another?
A. There are multiple strategies that can make your move less stressful and more successful. To discuss timing and get candid answers to all your questions contact your trusted Gary Greene Pro. We’ll take good care of you.
Q. Will prices continue to rise.
A. Positive economic forces and supply and demand factors will continue to press home prices higher. The sooner you act the sooner you’ll save money and begin enjoying the benefits of appreciation.
When selection is thin and other buyers are looking for what you’re looking for, you’ll want to know about fresh inventory first. To keep from losing out and learn about new listings before the uninformed and slow-moving masses have your favorite Gary Greene Pro set you up with First-To-Know Instant Alerts. We put the know in knowledge. Really.
Q. What about Pocket Listings and Private Sales?
When inventory is drum-tight a surprising number of off-the-MLS-radar properties are sold via jungle drums, whisper campaigns and agent grape vines. Savvy listing agents prepping a new listing for market and always-on selling-agents are exchanging phone calls, texts and eMails , sharing details about upcoming, but-not-on-MLS-yet listing inventory. As a result, prime properties sell privately. If you’d like to know about prime off-the-MLS properties For Sale before the mass market ask your in-the-know Gary Greene Pro to plug you into the Pocket Listing and Private Sale insider network.
Q. When I find my dream home how do I write a winning offer.
A. Shine in the eyes of the seller by strengthening your offer with favorable terms such as:
- Larger down-payment.
- Bigger earnest money deposit.
- More Option Money.
- Short deadline trigger times and exit clauses for things like the Option Period and days for Third Party Financing approval.
- Provide the seller with written mortgage pre-approval.
- If you’re financing is certain, eliminate financing contingencies.
- A Flexible closing date.
- A seller lease back.
- A personal letter to the seller sharing a little bit about yourself and your situation sometimes helps the seller choose one bidding buyer’s offer over the other.
To successfully navigate today’s turbulent seller’s-market realities with a smile and success contact your trusted Gary Greene Pro today. Thank you.