In The Woodlands Real Estate Activity July 2015, we discussed the overall average activity of all list price ranges combined. Now, let’s look at the performance of The Woodlands TX real estate market above and below the first six months 2015 average list price of $557,147. For simplicity, we will use $500,000 as the average for our activity comparisons.
This chart indicates we have more homes for sale in The Woodlands TX priced above $500,000. The first pie chart provides a active listing breakdown by list price range. The second pie chart represents new listings entering the market during the month of June 2015. Now, let’s look a the written contracts chart to see where the sales activity is happening above and below the six-month average.
It is obvious the buyer activity is below the $500,000 list price range. The pie chart is a breakdown by list price ranges. The $200,000 to $400,000 list price range includes considerable investor activity.
For a first time in 2015, both sides of the six-month average are almost equal in June. Explanation could include end of school year and /or relocation into area.
Home-buyers for the above $500,000 list price ranges still have a good selection of homes. Beginning in February, homes priced above $500,000 are defined as a buyer’s market due to the 6+ months of inventory. A seller’s market exists for homes priced under the $500,000 six-month average.
Sale prices are remaining within 5% or less of list price. Must be a combination of excellent pricing skills of the listing agents plus time-tested supply and demand! Personal recent transactions confirm that appraisals are supporting price levels.
You can see the home visit activity is focused on homes priced under $500,000….a two-to-one ratio. The downturn in activity in June signaled the end of the school year….time for the beach. Again, the investor’s “sweet spot” price range of $200,000 to $400,000 represents a large percentage of the June home visits.
Visit Michele Flory for activity details of every list price range in The Woodlands represented in the above charts and graphs.