The median active time on market is 75 days. The median list price of active listings is $374,900.
Location and condition continue to be determining factors for days-on-market prior to contract. Unlike other national markets, we are not experiencing a downward spiral of sales prices. We are still seeing homes in desirable locations with updated amenities sell within one day at a premium price per sqauare foot.
According to the Private Mortgage Insurance Risk Index Quarterly Report, the Houston MSA is rated at less that 1% risk of decreasing property values. View the entire report here.
Out-of-area buyers are still expecting to purchase a home in The Woodlands at a significantly lower price level based on their prior market conditions.
The number of active listings is expected to continue following the historical seasonal trend offering more homes and more choices for move-up and out-of-area buyers.
Tomorrow: Contracts (Pendings)