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The Woodlands real estate remains one of most active communities in Houston area. The Woodlands MLS data reveals we are in a sellers market!
Homes for sale in The Woodlands remain at a record low level. Contributing factors include decreased new construction due to lack of developed lots and increased buyer demand fueled by corporate relocations.
The Woodlands written contracts continue to exceed previous year sales with the one exception in July. Supply and demand logic should result in a decline in this category to match the active listings trend. However, as mentioned in a previous post, pocket listings continue to significantly impact the market.
The Woodlands days on market of 49.2 is remarkable. This beats the 57.5 record set back in April 2008! As you probably know, this number represents the number of days between a listing date and an executed contract date. We have tracked The Woodlands real estate since 2002; this year continues to set new records almost every month in one or more categories.
The Woodlands months of inventory continues to be defined as a sellers market. Months of inventory is calculated by dividing current inventory of homes for sale by the monthly average number of homes sold during the last 12 months.
The Woodlands real estate list price to sale price ratio continues to remain in the 96% to 97%. As the inventory of homes for sale continues to shrink, this percentage will be moving closer to 100%. The few new construction neighborhood builders in Creekside Park advise that prices are increasing in $8,000 increments monthly. The Woodlands real estate market has been described as a pattern of gently rolling hills; unlike the dramatic peaks and valleys of the former “hot markets”.
Although monthly sales continue to exceed previous year, homes for sale in The Woodlands are receiving fewer visits by potential buyers than the previous year with the exception of February, May, and August. Two factors contribute to this seemingly contradiction.
Aware of the limited inventory, buyers are making a decision in less time and visiting fewer homes. The traditional approach was visit as many homes as possible, wait a few days for new listings, and re-visit to arrive at top three. In todays’ market, the top three might be under contract before the second visit.
The other explanation for the low showings is the growing number of pocket listings. Since these listing showings are scheduled between the listing and buyer agents direct, the showings are not logged into Centralized Showings.
Visit Market Reports for information on specific list price ranges in The Woodlands real estate
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