The Woodlands real estate inventory of homes for sale in this list price ranges is down 21% from same period last year versus overall inventory of homes for sale down 54%.
A nice distribution of listings in this list price range throughout The Woodlands.
This is a good indicator of low inventory. Written contracts are down 9% YTD, down 14% for February versus The Woodlands overall written contracts being up 38% YTD and up 33% for the month of February. We need new listings in this list price range!
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 as of today is 2.8; higher than The Woodlands current real estate overall market 1.5 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. At 25 days for the month of February compared to an overall market of 75.1 days on market, this means there are more buyers than seller in this list price range.
This list price range List Price to Sale Price ratio is 98% for the month of February; slightly better than The Woodlands overall average of 97.5%. Prices are firming as we enter the peak activity season.
Each home for sale in this list price range averaged 15.2 buyer visits for the month of February versus The Woodlands overall average of 17 for the month of February.
If you are considering selling your home, we would welcome the opportunity to discuss several of our unique marketing options to maximize the value of your home. If you are searching for a home in The Woodlands in this list price range and noticing that new listings are changed from Active to Pending or Sold within the same hour or day, we should discuss the topic of Pocket Listings.
Visit Michele Flory for more information on The Woodlands real estate market.