The Woodlands real estate market in this list price range continues to decline in number of homes available for sale. We are currently 13% below same period last year.
The majority of available homes are located in The Woodlands Village of Sterling Ridge around the Player Golf Course.
We added only 4 new listings in this price range in November 2012!
Although active listings inventory is down, new written contracts YTD average four homes sold monthly.
Months of inventory is defined by the National Association of Realtors as current inventory divided by the average number of monthly sales for the previous 12 months. A months of inventory above six is defined as a buyer’s market; a number below 6 is defined as a seller’s market. Six months is defined as a balanced market. Months of inventory in this list price range is 4.3; higher than overall market 2.3 months.
Days on market is defined as number of days from list date to contract date. This category always lags one month since it is based on contract activity. Although at 40 days for the month of November compared to an overall of 70.4 days on market, this list price range is now trending lower than the eleven-month average of 79.6 days
This category offers a reality-check on list prices versus actual sale prices. The list price comes from the HAR MLS listing data information available to the public. The actual sale data comes from the executed contract documents and provided to broker/agent members of HAR. If the list price sale price percentage exceeds the average for the respective list price range, the home might have been priced higher to reflect location, condition, and upgrade advantages. The average of 97% in this list price range is slightly higher than The Woodlands real estate overall market 95.5%.
Centralized Showing Service coordinates 98% of the potential buyer visits in The Woodlands real estate market. Based on their data, buyer visits in this list price range during the month of November slightly exceeded same month last two years.
If you can’t wait for the next list price range posting, visit Market Reports for information on all list price ranges.
If you would like information specific to your home or your neighborhood, contact me.