An early spring market?
The weather has been wonky. No rain and blistering summer heat for months on end. Winter hasn’t really shown it’s self, yet. I’ve you’ve driven down Grogan’s Mill drive you’ve probably noticed that some of medians have blooming wildflowers. Some trees look like they’re beginning to bud already. It looks like our forrest is a bit confused and trying to take advantage of the mild weather and much needed rain to recover from the drought. Perhaps the real estate market is behaving like our forest. Although we’ve been super fortunate in The Woodlands, it looks like the real estate market is budding early. Check out these Months Supply Of Inventory numbers.
The Woodlands Texas Real Estate Report. Months Supply Of “For Sale” Listing Inventory – February 3rd, 2012
Is it a Buyer’s Market or a Seller’s Market?
According to real estate economists a six-month supply of For Sale Inventory represents a balanced market. A higher number means it’s leaning towards a buyer’s market, less than six months, would indicate a seller’s market. As we can see from these inventory numbers, in most price ranges there is an under supply of selection.
PRICE RANGE. . . . . . MONTHS SUPPLY OF LISTING INVENTORY
$000,000 – $200,000 . . . . . . . . . . . . . . . . . . . . 2.4
$200,001 – $300,000 . . . . . . . . . . . . . . . . . . . . 3.7
$300,001 – $400,000 . . . . . . . . . . . . . . . . . . . . 3.5
$400,001 – $500,000 . . . . . . . . . . . . . . . . . . . . 3.2
$500,001 – $600,000 . . . . . . . . . . . . . . . . . . . . 3.1
$600,001 – $700,000 . . . . . . . . . . . . . . . . . . . . 4.4
$700,001 – $800,000 . . . . . . . . . . . . . . . . . . . . 8.7
$800,001 – $900,000 . . . . . . . . . . . . . . . . . . . . 9.7
$900,001 – $1,000,000 . . . . . . . . . . . . . . . . . . 11.1
$1,000,001+ . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.7
What does this mean?
For buyers: When you find something you love, don’t hesitate to submit an offer. The cliché If you snooze you might lose out.
For sellers: If you were thinking of selling, due to lack of inventory and an abundance of buyers, now would be a smart time to sell. If your home is on the market now, consider this, the Average Number Of Days On The Market for SOLD homes runs between seventy and eighty days. If you’re home has been on the market for more than ninety days, something may need adjusting. The three key factors that impact salability are merchandising (staging), marketing and pricing. Correctly tweak and amplify these three factors and you’ll be one of the successful sellers attracting a qualified buyer. Ignore one, two, or three of these salability factors and the property will languish, even in a strong market. Position your property competitively in today’s market and you’ll be packing before you know it.
Closing thoughts.
While mulling over these inventory numbers, keep in mind these figures represent big averages across The Woodlands. Real estate is hyper local in nature and market conditions for your specific property, in your specific neighborhood may be different that the big average you see above. To find out what’s happening in your neighborhood, contact us and we’ll provide you with an up to the minute, on-target, Months Supply of Inventory report. Give us a call and we’ll send you your free report – pronto.
