Spurred on by a shortage of new home inventory, the sale of existing homes in Montgomery County increased by an eye-popping 41.3 percent in January.

According to data compiled by the Houston Association of Realtors, 404 homes were sold last month. That was 118 more than the 286 homes sold in January 2012.

As work continues on ExxonMobil’s headquarters just south of The Woodlands and more companies flock to Montgomery County, the demand for housing remains unabated.

Pending sales (289) are running at a 15 percent clip ahead of the prior January. And of the 404 homes sold last month, more than half (214) were sold in The Woodlands and South County area.

The HAR figures support that view. The days a house stays on the market fell by 6 in The Woodlands/South County area (75 from 81), an incredible 32 days in Conroe/North County (78 from 110), and 11 days in East County (86 from 97).

January sales increased 50.7 percent in The Woodlands/South County, 55.6 percent in East County, 26.7 percent in the Lake Conroe/West County area and 20.8 percent in the Conroe/North County area.

The total dollar volume of $101.543 million in January is 34.7 percent ahead of the prior month total of $75.329 million.

Precinct 3 Commissioner James Noack expects to be busy at least through 2014, as developers are expected to construct approximately 7,000 new homes in, and around, the Rayford Road corridor.

Until the new home market stabilizes, prospective buyers will continue to turn to a competitive existing home market.

Creekside Park The Woodlands and Woodforest are the hottest new home developments in Montgomery County.

For more information about homes for sale in The Woodlands, please call realtor Luis Tamborrel at (832) 482-9367. Don't forget to follow us on Facebook:

Hablamos Español y tenemos información acerca de bienes raíces en The Woodlands, sólo comuníquese al 55.4991.4933 o Nextel 72*13*9814 desde México.

Source: yourhoustonnews.com