The Woodlands TX - Real Estate Market Report for June 2009

It's not real estate heaven, but the real estate market in The Woodlands TX is an oasis. Don’t take my word for it, study these statistics yourself and see if you go, ah-ha, ut-oh or um-hum.

There is a 3.8 months Supply Of For Sale Listing Inventory in The Woodlands. Real estate economist believe that 6 months of inventory represents a balanced market. 3.8 is excellent. But, before we get all giddy, let's remember that the Months Supply Of Inventory will vary dramatically by price range. By Wednesday, I'll have a blog post up that breaks it down by price range.

The Average Number Of Days On The Market for active listings is 95 Days. Keep in mind, this is the overall number for The Woodlands market. Real estate is hyper local in nature, the relevant number will most likely be different for your specific property, in your specific neighborhood, in your specific price range.

The Average Sold Price for closed sales in June 2009 was $343,129. In June 2007 it was $$347,674. The June 09′ Median Sold Price was $270,000. In June 07″ it was $257,100. Generally speaking home prices are stable. Included in the report below is a month-by-month, two year study of Average Sold Prices. Again, prices are stable, the number of sales is weaker than last years.

Average Days On The Market for Sold properties in June 2009 = 72 Days. In June 08′ it was 62 days. Remember, the Average Number Of Days On The Market for current active listings is 95 days. If you’re a seller and your home has been on the market for longer than 70 days, you might want to adjust something; the marketing, the merchandising or the price.

Average List Price To Sold Price % for the time period - April l 1st - July 5th = 94.7%. I’m proud to report that our Prudential Gary Greene agent icons achieved an Average List Price To Sold Price % of 97.9. That means our marketing generated an average of 3% more for our seller clients. At an average sold price of $343,129, that would be over $10,000. That’s a bid deal for sellers, right? Choose us, net more…sweet.

Here's a picture of what The Woodlands monthly active listing inventory and contracts written look like. What we are experiencing is positive. Listing Inventory is not growing wildly and the velocity of sales is improving month over month. We are supremely lucky to live in The Woodlands.

Foreclosures and Short Sales in The Woodlands? While the nation wide news about foreclosures remains grim, it's the opposite in The Woodlands. Out of the 973 Active Listings in our Multiple Listing Service, only 11 are Foreclosure, a scant 1%. Same thing with Short Sales, only 10. The last thing I want to leave you with, remember, Real Estate Market conditions are hyper-local in nature. These numbers are big-pie averages. What's happening in your specific neighborhood is what really matters. If you'd like specific information for your property and your neighborhood, give me a call: Ken Brand 832-797-1779 And now the last-last thing. If you're the person who likes to delve into the data, take a swan-dive into this collection of data.