The January sale price as a percent of list price in The Woodlands was 93.5.
Every calendar year begins at a lower percentage than the average 97%. Homes closed in January were the result of negotiated contracts in December. The last month of the year is traditionally a slower market for property showing appointments; resulting in sellers being more flexible on sale price.
List price is established prior to the actual listing in HAR. The Realtor prepares a Comparative Market Analysis (CMA) based on the actual sales history within the last three to six months of comparable homes…location, condition, amenities, etc. Knowing that homes in The Woodlands sell for an annual average of 97% of list price, a negotiating amount is added to arrive at the final list price.
We still see sale prices over 100% of the list price in our market; a result of multiple offers. We have also seen very few homes sell in the 80% range; a result of the seller establishing original list price rather than using market analysis provided by Realtor.
This year will be a banner year for home values in The Woodlands. Homes in great locations with updated amenities will sell at premium price levels.
Next Month: Appreciation Rate history by Village.
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