According to the Houston Association of Realtors (HAR) data, the average price of a home sold in The Woodlands during the first quarter of 2015 was $519,000.
The Woodlands real estate inventory of homes in this list price range is up 93% from same period last year. The Woodlands overall average inventory of listings is up 84% for same period.
YTD written contracts in this list price range is up 23% compared to The Woodlands overall average of -5%
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. 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 3.8; compared to The Woodlands current real estate overall market 3.4 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 66 days for the month of March compared to an overall market of 73.0 days on market.
This chart compares the list price of a home to the actual sale price of the home. The average percentage for March was 98.0 compared to The Woodlands overall average of 95.2.
Centralized Showing Service coordinates 99% of the showings for active listings in The Woodlands. Combining their data with HAR data, each active listing in this list price range was visited by an average of 16 buyers during the month of March versus The Woodlands overall average of 12.3 buyer visits.
Visit Michele Flory for more information on The Woodlands real estate.
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 Coming Soon Listings.
A note of advice for potential sellers; select your next home first before listing if you plan to remain in The Woodlands. In previous years, the traditional strategy was to list your home and receive an executed contract first, then begin search for next home. In today’s market in The Woodlands, you should select your next home first….then list your home.