Real Estate Market Statistics

What’s The Months Supply Of For Sale Listing Inventory In The Woodlands TX – By Price Range

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 on May 13, 2009

Is It A Buyers Market or A Sellers Market?

Numbers are tricky. They can tell you a lot and they can fool you too. For example, you read articles, watch talking TV new bobble heads and listen to people talk about 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 San Diego, Sacramento, Phoenix or South Beach, what matters is what is happening in your neighborhood. Period.

Monthly, we release a collection of reports for The Woodlands TX. Reports include statistical data on Average Sold Price, Months Supply Of Inventory, Median Sold Prices, Average Days On Market, Broker Market Share and more. But here’s the deal, even in a tightly defined geographical community like The Woodlands, averages only give you an general idea of trends. What really matters is what’s happening in your neighborhood and your price range. If you really want to know what impacts the specific price of your home, call your favorite Realtor and as them to do a market analysis for your specific property.

Here’s an example of what I’m talking about. This evening, at 8:16 p.m., I ran some statistical Months Supply Of For Sale 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 Inventory for all price ranges is 6.2 months. Here’s the by price range breakdown. Keep in mind, while this snapshot provide a more refined picture, what is happening in your neighborhood could very well be different. (Oh, just to be clear, Months Supply Of For Sale Inventory is how long it would take to for the current For Sale inventory to sell if no new inventory came on the market and the velocity of sales remained the same.)

Price Range Months Supply Of Inventory

$000,000 – $200,000 3.2

$200,001 – $300,000 5.5

$300,001 – $400,000 6.2

$400,001 – $500,000 7.1

$500,001 – $600,000 7.3

$600,001 – $700,000 7.0

$700,001 – $800,000 15.0

$800,001 – $900,000 12.4

$900,001 – $1,000,000 15.5

$1,000,001+ 23.6

What’s It Mean?

Real estate economists believe that 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. If you’re a seller and your sales price is under $400,000, you’re in fair shape. The more expensive the home, the more competitive the market. Things that effect 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, contact your favorite Realtor. Also, take a look at this collection of Real Estate Reports, they are The Woodlands general in nature, but you’ll find the Broker Market Share numbers interesting. Prudential Gary Greene is the leader above $250,000 and the higher the price range climbs the more dominant and succeful we are at matching buyers and sellers.

If there’s anything I can do to help or if you have a question, give me a call: Ken Brand 832-797-1779

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The Woodlands Real Estate Market Report – April/May 2009

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 on May 6, 2009

Flea-sized mortgage rates have super sized buying power. Stock market rebound, thickened consumer confidence, positive TV reports are shoving activity forward.

We expect a strong summer. Here’s some factoid support.

The Median Sold Price for April 2009 was $251,000. In April of 2007 it was $235,000. The Median Sold Price is up 6.8%. Do you think it will go down? I don’t. Buy now.

The Average Sold Price for April 2009 was $320,556. In April of 2007 it was $292,244. The Average Sold Price is up 9.7%. Will prices drop? I don’t believe so.

On May 1st, 2009 the Months Supply Of ”For Sale” Listing Inventory for The Woodlands TX was a mere 3.9 months. Real Estate economists believe that 6 months of inventory represents balance. If 6 is balance, what is 3.9? It’s time to buy.

The Average Number of Days On Market for Active listings is only 97 Days. In January it was 109. Homes are selling faster.

The Average Number of Days on Market for Sold properties in April 2009 was only 73 days. That’s an awesome low number.

Year To Date – Number One Market Share in closed dollar volume, listings sold – Properties Over $250,000 = Prudential Gary Greene, Realtors

Year To Date – Number One Market Share in closed dollar volume, listings sold – Properties Over $5000,000 = Prudential Gary Greene, Realtors

Year To Date – Number One Market Share in closed dollar volume, listings sold – Properties Over $750,000 = Prudential Gary Greene, Realtors

If you’re the kinda person who likes to pour over the numbers, you can download the full collection here : The Woodlands Real Estate Market Report – April/May 2009

Any questions – give me a buzz: Ken Brand 832-797-1779

Real Estate Market Activity Report – The Woodlands TX, April/May 2009 / Prudential Gary Greene Realtors

Publish at Scribd or explore others: Real Estate Business & Law average days on mark real estate market r

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The Woodlands Market Report – What’s Hot, Who’s Not. April 6th, 2009

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 on April 7, 2009

Last week I shared a bit of real estate “feet on the street, seat of the pants”real estate market activity rundown.

Bottom line; values are holding steady, sales are heating up and mortgage rates are insanely low. You can watch the video HERE.

I promised a big fat collection of staistical data. You’ll find in below. Here’s a short recap.

The Woodlands, Texas – Houston Association of Realtor, MLS data / Residential Sold Closings 1/1/09 – 4/6/09

Median Sold Price, March 2009 = $240,000 / UP 7% Compared to March 2007

Average Sold Price, March 2009 = $312,102 / UP 5% Compared to March 2007

Properties Under Contract March 31st, 2009 = 197 / Down 19% Compared to March 2007

Average Days On Market March 2009 = 69 Days / 52 Days in March 2007

Months Supply Of For Sale Inventory = 4.5 Months Supply

Closed Listing Dollar Volume Sold 1/1/09 – 4/6/09 – Properties Over $250,000 = # 1 Market Share -Prudential Gary Greene, Realtors / 25.42% Market Share

Closed Listing Dollar Volume Sold 1/1/09 – 4/6/09 – Properties Over $500,000 = # 1 Market Share -Prudential Gary Greene, Realtors / 33.67% Market Share

Closed Listing Dollar Volume Sold 1/1/09 – 4/6/09 – Properties Over $750,000 = # 1 Market Share -Prudential Gary Greene, Realtors / 46.92% Market Share

Here’s the 16 Page Collection of Market Data. Any questions, feel free to give me a call: 832-797-1779.
The Woodlands Real Estate REport 1/1/09-4/6/09

Publish at Scribd or explore others: Business & Law average sold prices days on market

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It’s Better Than You Think. Real Estate Market Report for The Woodlands, TX – April 2nd, 2009

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 on April 3, 2009

It’s Better Than You Think. Real Estate Market Report for The Woodlands, TX – April 2nd, 2009 from Ken Brand on Vimeo.

Activity is brisk, attitudes are improving, buyers are shopping and researching, mortgage rates are ridiculously low, purchase power is giraffe high and Spring and Summer looks attractive. Here’s the low down. For the detailed data oriented, I’ll have full collection of reports posted and available here by Monday, April 6th.

In the mean time, if you have any questions, give me a call – Ken Brand 832-797-1779

Clink-Cheers.

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Your property is For Sale? Should you reduce the PRICE? It depends, either way, make an educated decision.

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 on August 4, 2008

You property listed “FOR SALE” and you’re wondering if you should reduce your asking/listing price.

Here are four key things to consider in answering the question of price reduction. As an example, I’m going to include some statistical information for the market I work and play in, The Woodlands, Texas. The philosophical approach using accurate data will work in all real estate market.

Let’s start with a few important qualifiers before we dive into the hard facts. Things that effect salability you probably know; location, condition, price, marketing/advertising. You can’t change the location, let’s assume you’ve taken smart steps to merchandise and stage your property and you have a savvy real estate agent marketing/advertising/promoting like a crazed banshee. What’s left? Adjust the price.

All sellers grapple with the difficult task of pricing. Here’s four factors to help you decide intelligently.

1. Find out what the Average Number Of Days On The Market is for all “active listings” in your general market. You should also narrow it down to your price range and even your specific neighborhood. (A savvy real estate agent can provide you with this information.)

EXAMPLE: The Average Number Of Days On The Market (ADOM)” for all active listing inventory (908), in all price ranges, is 85 Days. (The Woodlands, Texas – 10:25AM, August 4th, 2008)

Let’s say you had your property listed For Sale at $549,000 in The Woodlands, Texas. The ADOM for all actively listed properties between $500,000 – $600,000 is 91 Days. In this example, using your data for your property in your market area, if your property has been on the market longer than the average – Adjust The Price Now! Do it today.

What’s the first question a buyer asks when they walk through your door? Answer: How long has this home been on the market? Don’t let the answer be, “longer that average”.

2. Find out what the Average Number Of Days On The Market is for all Closed Listings in your general market for the last 30 days. These ADOM numbers from closed sales will reflect buyer activity (contracts written) from 30 to 60 days ago. This number will tell you what ADOM were for properties that qualified buyers choose over all the other available homes.

EXAMPLE: In The Woodlands, Texas during the month of July there were 255 Closed Sales, the Average Number Of Days On The Market was only 55 days. Using the same mythical listing price of $549,000 the ADOM is 65. If you’re seriously motivated and you want to move and your property has been on the market for more than 55 days…you would ACT NOW.

3. Take a look at the seasonal pattern for your area. In our area, as you can see from the graph below, New Contracts Written peak in May, June and July. Buyer activity naturally ebbs as school begins and the holiday season kicks off. This means there will be fewer qualified buyers in the market place. If you want to be one of the sales that happens next, consider a price adjustment today, not next month.

4. Consider how showing appointments are trending in your market place. Taking into account the seasonal flow of qualified buyer traffic, is there any reason to believe that more buyers will appear or enter the market place? If the answer is no, adjust you price today.

OK, that’s alot to swallow, it’s bitter too. Experience tells us it’s better to take action today than regret inaction tomorrow. Please keep in mind that this all assumes that you have taken dramatic action to merchandise/stage your property appropriately and you have a savvy real estate agent marketing like a whirlwind.

Any questions, feel free to give me a call, Ken Brand, 832-797-1779 or shoot me an email or leave me a comment.

Thanks.

Real Estate Report for The Woodlands Texas – Month to Month by Price Range, July/August 08 – Upload a Document to Scribd

Bonus: If you’re a data freak or a property owner in The Woodlands, Texas or both, you might enjoy parsing this collection of reports.

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$300Billion Housing Bill a Done Deal – President Bush signs off

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 on July 30, 2008

Hi! Originally uploaded by Special

It’s official. Will buyers come out to play?

What’s it mean to you and me? It all depends on where you live and what your situation is. One sure thing, although we are silly-putty pounded by media reports referring to the “National Housing Market”, there is no such thing. The national average for Month’s Supply of For Sale Listing Inventory is 11 months. In The Woodlands, it’s less than 5 months. Real estate markets are local, hyper-local in fact. For example, the Phoenix, Arizona housing market in not like the Austin, Texas market. Real estate sales and listing inventory in Stockton, California is not similar to San Francisco, California. Miami Beach, Florida is not comparable to Houston, Texas. Hyper-Local means that in township like The Woodlands, real estate market activity will be different that the entire city of Houston. Inside The Woodlands, the real estate market statistics are different from Village to Village, sales velocity, listing inventory, Days On Market and months supply of inventory also varies from individual neighborhood to neighborhood, street to street and even house to house.

What’s the take away. If you want to know where you stand, what your property is worth, how long would it take to sell, are prices going up or down, you will want to consult with your favorite, trusted Realtor. They can research and create an up to the minute hyper-local statistical report (called a CMA or Comprehensive Market Analysis) and share their real-time perspective, what the data means and what their interactive experiences are with the real clients and customers in today’s market place.

Back to the Housing Bill. It’s signed and it’s official. In my opinion it’s a big deal for citizens buying and selling real estate. Why? Because it bolsters Fannie and Freedie Mac, which provides consumer and institutional confidence and the assurance of mortgage money availability. It also raises the conforming loan limits from $417,500 to $625,500, providing lower interest rate loans to more people. It provides a Tax Credit for first time home buyers.

Bottom line, it provides confidence, security and cheaper mortgage money to more people, ergo consumers can buy homes at less expensive rates. All good and positive.

Want to read the whole CNNmoney.com article – Click Here

Here’s the summary

A stronger regulator for the GSEs. The new regulator will have a greater say over how well funded the two government sponsored enterprises (GSEs) are – a major concern in the markets that has sent stocks in both companies plunging in the past two months.

A permanent increase in “conforming loan” limits. The law will permanently increase the cap on the size of mortgages guaranteed by Fannie and Freddie to a maximum of $625,500 from $417,000. The FHA maximum loan limits for high-cost areas would also increase to a maximum of $625,500. Higher loan limits will make it easier for borrowers to get mortgages, because those mortgages are more likely to be traded if they are considered conforming.

A new home-buyer credit. The new law includes a tax refund for first-time home buyers worth up to 10% of a home’s purchase price but no more than $7,500. The refund, however, serves more as an interest-free loan, since it would have to be paid back over 15 years in equal installments.

A ban on down-payment assistance from sellers. The new law eliminates a program that has allowed sellers to provide down payment assistance for FHA loans. The law would also increase to 3.5% from 3% the down payment requirement for borrowers getting FHA loans.

A new affordable housing trust fund. The law establishes a permanent fund to promote affordable housing. The fund will be paid for by fees from Fannie and Freddie.

Bolster Fannie and FreddieA late and controversial addition to the new housing law provides temporary authority for the Treasury to lend a financial hand to Fannie Mae and Freddie Mac if the Treasury deems it necessary to help stabilize markets

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If we can help you with anything or you have questions, give me a call, Ken Brand 832-797-1779. If I don’t know the answer, I know lot’s of specialists and I will find out for you. Thanks.

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What do tea leaves tell us about the Real Estate Market in The Woodlands, Texas?

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 on July 24, 2008

Sales Down 26.24% and Listing Inventory UP 15.46%

Written Contracts for the month of July, based on current velocity, are projected to total 222 Listings Pended or Placed Under Contract. Last July (2007) there were 301 Listings Pended or Placed Under Contract. The difference is 26.24%. 26.24% fewer listing placed under contract than last year at the same time.

What else you should know.
From here, sales will slow through February of 2009. Historically (see graph) the total number of contracts written per month declines. School begins anew, the holiday season kicks off and seasonally there are simply fewer buyers in the market place. Also, we expect that “For Sale” listing inventory will ebb for the same reasons.

Sellers: Now is the time to make adjustments. Staging, merchandising, painting, interior and exterior cosmetic enhancements and price adjustments should be made now. The longer you wait, the harder it will become to sell your property. Want to sell your property? Take action now.

Buyers: The selection of inventory is healthy, interest rates are expected to climb. Yes there are fewer sales than last year, but The Woodlands and Houston real estate markets are not even in the same solar system as Florida, Arizona or California. Real estate markets are local, forget the national news, study local conditions. SOLD prices have NOT declined, prices have actually appreciated. It’s not expected to change. When you find what you like, take action, buy it.

Realtors: Listing Inventory is up, sales are down. To thrive in this market will require extra effort and actions, actions that are dramatic and remarkable. More marketing, more connecting, more follow through, more follow up, more communication, more patience, more networking, more service. Time to step up everything, puny milk toast performance will be wheeled to curb like those big brown trash cans. If I can support your efforts to shine remarkably, let me know.

Want more market data: Months Supply Of Inventory, Average List Price To Sales Price Percentages, Days On Market, Average Sold Prices – Click HERE for all the gritty details

Want more economic news the Greater Houston Area Economy and where we’re headed? Click HERE.

If you have any questions about this material, I’d be happy to help, leave me a comment, or email me at Ken@KenBrand.com or you can call me on my cell phone = Ken Brand 832-797-1779.
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All this real estate market data for The Woodlands is complied from the Houston Association of Realtors, Multiple Listing Service. By Ken Brand

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Real Estate Market Report – The Woodlands, Tx – July 2008, by Ken Brand

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 on July 24, 2008

Rushmore_BullBearBisonLion
Originally uploaded by www.agatti.com

Bull, Bear, Bison or Lion?

All.

Download detailed reports HERE.

Bull – Prices are not declining. Real estate economists believe that 6 months of For Sale inventory represents a balanced market. In The Woodlands, TX, according to Houston Association of Realtors, Multiple Listings Service Statistics, the inventory has never climbed above 5 months. It’s a Seller’s Market.

Sellers: With the correct merchandising, positioning and marketing, you can push the price envelope.

Buyers: When you find something you really like or love, jump on it. In The Woodlands, screaming steals or deals are as rare as wild white bison.

Realtor Icons: Listings Inventory is worth chasing. Invest your time, money and energy to position, merchandise and market like gorilla glue sticks, you win, your clients win.

Bear: Interest rates are likely to climb. Prices are likely to climb like healthy vines. Waiting won’t fix it, act now.

Bison: Don’t follow the thundering herd. What we read and watch, all the negative news media reported, about the real estate market is true for some cities, it is not accurate for The Woodlands Area and Greater Houston. Real Estate is local. Here are the facts.

Lion: Buying or selling – Arm yourself with facts. Choose a savvy, hard working, service oriented Realtor to guide you through the real estate jungle. Wild success can be had, not for lambs, for lions.

You can download the entire report in .PDF format – Click HERE.

Real Estate Market Report -The Woodlands, Tx. -June/July 2008 by Ken Brand – Upload a Document to Scribd

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