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The Woodlands real estate market continues to add new meaning to the word “awesome”!
This list price range has 33 active listings as of February 1, 2013; 66% below same period last year.
This list price range is one of the most evenly distributed throughout The Woodlands.
Written contracts in this list price range are up 8% from same period last year. This compares to The Woodlands overall average of 45% above same period last year. I suspect this percentage is impacted by low inventory.
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 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 1.3; lower than The Woodlands current real estate overall market 1.6 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 20 days for the month of January compared to an overall market of 75.2 days on market, this means there are more buyers than seller in this list price range.
This chart indicates the actual sale price of the home compared to the listed price. The 2012 average was 97.3% compared to The Woodlands overall average of 96.3%. Low inventory plus 20 days on market will guarantee multiple-offers beginning to occur in this list price range. I expect the percentage to nudge closer to 100% during the peak contract months of 2013.
Of the total 3,248 showings in The Woodlands during the month of January, this list price range represented 23% of the activity.
Additional information on The Woodlands real estate market is available on our web site www.MicheleFlory.com. Call me direct at 713-256-4998 to discuss market conditions in your specific neighborhood in The Woodlands.
The post The Woodlands Real Estate $300,000 to $400,000 List Price Range appeared first on The Woodlands.
