The Woodlands Real Estate Market Report

More On “Does The Real Estate Market Suck or Shine in The Woodlands TX?”

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 on June 4, 2009

I’m gonna say, “The real estate market shines in The Woodlands TX.”  Don’t take my word for it, study these statistics yourself and see what conclusions you draw.

There are 3.6 months of For Sale listing inventory.  Real estate economist believe that 6 months of inventory represents a balanced market.  3.6 is excellent.  The Average Number Of Days On The Market for active listing is 96 Days.  Keep in mind, this is the overall number for The Woodlands market.  Real estate is hyper local in nature,  the factual number will most likely be different for your specific property, in your specific neighborhood, in your specific price range.  In a couple of days I’ll post Months Supply Of Inventory By Price Range.

The Average Sold Price for closed sales in May 2009 was $355,521.  In May 2007 it was $325,283.   The May 09′ Median Sold Price was $270,000.  In May 07″ it was $251,000.  Generally speaking home prices are stable.  Included in the report below is a month-by-month, two year study of Average Sold Prices.  Again, prices are stable, the number of sales is weaker than last years.

Average Days On The Market for Sold properties in May 2009 = 76 Days.  In May 08′ it was 62 days.  Remember, the Average Number Of Days On The Market for current active listings is 96 days.  If you’re a seller and your home has been on the market for longer than 70 days, you might want to adjust something; the marketing, the merchandising or the price.

Average List Price To Sold Price % for May 2009 = 95.1%.  I’m proud to report that our Prudential Gary Greene agent icons achieved an Average List Price To Sold Price % of 98.1.  That means our marketing generated an average of 3% more for our seller clients.  At an average sold price of $355,521, that would be over $10,000.  That’s big money right?  Choose us, net more…sweet.

You can download a .PDF report here:  The Woodlands TX Real Estate Market Report – June 2009, by Ken Brand

You can download a .PDF report here:  The Woodlands TX Real Estate Market Report – Sold Listings Market Share by Broker/January – May 2009

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
 

The Woodlands Tx Real Estate Market Report – June 2009 

 

The Woodlands Tx: Real Estate Report Market Share of Sold Listing By Broker  

{ 2 comments }

Standard & Poor’s Case/Shiller Reports US Home Prices Dropped 18.5% In December – Not In The Woodlands Texas

by Ken Brand, Sales Manager - Prudential Gary Greene, Realtors / The Woodlands TX / Cell: 832-797-1779 on February 24, 2009

If you’re reading/watching/listening to the news.  This morning it was reported that US Home Prices Dropped 18.5% in December compared to December 2007.  This report is for the entire US.  No doubt some many real estate markets are getting crushed.  It’s sad.  Fortunately, if you live in the Greater Houston Area or The Woodlands, Texas – you don’t live in the entire USA, you live here. This is not sad, this is good news.

Real Estate markets are hyper local.  They are not regional, national or global.  What impacts the value of your home is what is happening in your neighborhood and your local real estate market, not Arizona, California or Florida.

Thankfully, because local prices never skyrocketed, prices have not plummeted either.  In fact, prices are holding steady.  Locally, there are fewer sales, it’s taking a little longer to sale, effective marketing and merchandising is more critical than ever and homes under a price point $300,000 are selling at a faster rate than those above.  Our available  months supply of inventory For Sale in The Woodlands is less than 6 months.  Real estate economists believe that 6 months of inventory represents a balanced market.  

Earlier this month, I posted a collection of reports and statistics that confirm that our real estate market is unlike the US average, it’s stable and growing going forward – you can check it out HERE.

If you have any questions and concerns, give me a call:  Ken Brand 832-797-1779

Real estate activity was positive in January, February is busy too.  As we enter spring, buyer and seller activity always heats up.  With the Economic Stimulus Recovery and Reinvestment Act and the First Time Home Buyer Tax Credit in place, real estate sales should remain positive throughout the summer. 

Thanks.

{ 1 comment }

Real Estate Market Activity, The Woodlands Texas – Sold Prices, Months of Inventory, Days On Market, The Whole Enchelida

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

Schools back in session.  Holiday season is just around the corner.  Hard to believe that Christmas is only 112 days away.

 If you want to be in your new home or out before Santa’s Sleigh lifts off, time to act.

Here’s what I see for citizens.

Seasonally listing inventory and sales velocity steadily ebb through the last quarter and begin marching upward after the first of the year.

Current Months Supply Of Inventory = Sellers Market.  Real estate economists agree, six months of for sale listing inventory equals a balanced market.  More inventory equals a buyer’s market, less than six months equals seller’s market.  The Woodlands, Texas Months Supply Of For Sale Listing Inventory = 3.9 Months.

Average Days On Market for Sold and Closed Properties – August, 2008 = 51 Days.  Properties that are staged, merchandised, marketed and priced competitively sell fast.  Properties that are missing one of the ingredients, sit for awhile.  The Average Number Of Days On The Market for unsold Listing Inventory is 91 Days.  Take Away:  Average Days On Market vary by price range, but, if you’re selling and your property has been on the market longer than average, make adjustments now.  You can adjust the merchandising, marketing, staging and the price.  Do it now. In the next 120 days there will be fewer buyers in the market place.

Are Sales Prices Rising or Falling?  Over the last two years, Sold Prices in The Woodlands, Texas have risen 16%.  The Average Sold Price for August, 2008 = $343,959.  

Take Away:  We aren’t living in Phoenix, Miami or Stockton.  Prices are not falling.  If you’re a buyer and you find a property that excites you, buy it now.  Prices should continue to climb.

August Stats for The Woodlands, Texas – all brokers combined:  For Sale Listing Inventory is 13.5% higher today than it was last year, 880 vs 775.  Written Sales Contracts for August were down 24.29%, 187 vs 247.  

The Big Picture Paradox = Sold prices steadily incline, Months Supply of Inventory remains low.  There are fewer sales than last year at this time and there are more homes for sale.  Brokers and buyers and sellers around the country dream about the day their real estate markets look like ours.  Our market is healthy and strong, it is equal to the record breaking activity of two years ago.

Here’s what I see for real estate agents.

The real estate market is a friend to the savvy, sensitive, hustler.  The weak, lazy and slow will starve.  There are fewer transactions, competition is greater and citizen expectations are higher than ever (rightfully so).  To win you must talk to more people, market and merchandise more effectively, communicate more frequently, follow-up more meticulously and deliver everything your clients want, the way they want it, when they want it.  Pretty simple to understand, difficult to do.  The good news, do it and you’ll steam roll the lazy.  Get to it!

If you want to pour over the reports and draw your own conclusions, amen.

 

If you’d like to download both reports, Click HERE

If I can help you with anything, let me know:  Ken Brand – 832-797-1779

{ 0 comments }