THE WOODLANDS, TX – It’s that time of the year again, when you begin to see those colorful signs in people’s front yards, announcing the beginning of an adventure… People wanting to move up to bigger and/or better; People wanting to move over to trade space for efficiencies and/or amenities; People wanting to make a new beginning in our City. As homeowners in this town, we are all in an amazing position to take part in what will be a historical year of growth in the Real Estate Market. As you will see below, the unsold listings as of 2/2014 has gone up since last month, but only by 10. We are down from this time last year (as well as a historical low dating back to 2009), and the common trend in the market will bring more listings as we head into the spring season. To have a home on the market when the inventory is low is the most ideal situation for Sellers – It’s the age-old principal of Supply and Demand.
We did see our largest jump ever since 2009, in the month of January, for new listings put under contract – another indication of property owners in our community preparing to take advantage of the demand that is growing in our area – it is a great opportunity that we are looking at!
Typically, a solid inventory will have homes in each price range, or even at an average price, that are held for a 6 month period and no more (6 months or more = Buyer’s market and 6 months or less = Seller’s market). Fortunately for Sellers, there is nothing typical about the inventory and market here right now. The table below shows average months of inventory held in The Woodlands at this time – the numbers are profound:
Keep in mind that these figures represent big averages across The Woodlands. Real Estate is hyper local in nature and market conditions for any specific property in a specific neighborhood may be different than the big average above. If you are interested in what is happening in your neighborhood, please let me know and I will send you an up to the minute, on target Month’s Supply of Inventory Report – right away!
Last but NEVER least; here is some comparative data on Homes sold in The Woodlands over the past 2 years… Median price going up + less days on the market + a 98% sold price to list price = big opportunity for Sellers!!
I LOVE talking about this industry – it is so robust and evolving… Especially for our area! If you are even curious about where your property might land on the market, it would be my pleasure to provide you with a free Competitive Market Analysis at your convenience. It never hurts to be informed about your assets!