Our showings are slightly less this year in November as compared to last year. This year, we had 3,081 showings in the month of November as compared to 3,824 last November. This may be due to less inventory, but with sales still being up, it is not a major concern.
Visit www.MicheleFlory.com for more detailed information on The Woodlands real estate. Data Source: HAR
Now to average months of inventory. We are currently at 4.2 months. You might recall that 6 months is a balanced market, which would indicate we are biased towards a seller’s market. Our month’s of inventory one year ago was 6.1 months. For price ranges below $700,000, months of inventory is less than 6 months, for those ranges beginning with the $700’s, months of inventory ranges from 6.7 to 18.5 months.
The average list price sales price ratio is also based on the solds for the given month. So far this year, sellers are averaging 95.65% for all price ranges. You might recall last month we indicated this number was approximately 93%. We have made an adjustment to our formula and this is now calculated more accurately.
