The Woodlands real estate inventory decreased slightly to current September level of 337 active listings. Pristine listings continue to receive over-list multiple offers in specific price ranges.
Sales have moderated from the seasonal May through July pace. YTD sales are 13% higher than same time last year. Days-on-market is the number of days from listing to contract. This number continues at three-year low of 53.1.
The ratio of list price to actual sale price for homes in The Woodlands increased slightly to 97.9% from 97.6% last month; higher than 96.7% at this time last year.
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 month’s of inventory above six is defined as a buyer’s market; a number below six is defined as a seller’s market. Six months is defined as a balanced market. The average Months of Inventory in The Woodlands as of September 1 is 2.0.
Visit www.MicheleFlory.com for more information on The Woodlands real estate.