The Woodlands real estate inventory of listings in July 2015 is up 48% compared to same period last year. Observation: possible mortgage rate increases in 2016 have the attention of local move-larger and move-smaller sellers
. June 2015 written contracts in The Woodlands are down 13% from same period last year. Observation: effect of after-school vacations.
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. An 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. The Woodlands July 2015 real estate months of inventory is 4.4 months. Observation: a mixed market.
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. The 49.1 days for the month of June 2015 indicates homes are selling at a slightly faster rate than the average of 50 for the first six months of 2015.
The List Price versus Sale Price chart compares the list price of a home to the actual sale price of the home. The Woodlands overall average for June 2015 is 97.3 compared to 97.7 for the first six months of 2015. Observation: pricing is stable.
Centralized Showing Service coordinates 99% of the showings for active listings in The Woodlands. Combining their data with HAR data, each active listing in The Woodlands was visited by an average of 9.4 buyers during the month of June compared to an average of 11.8 for the first five months of 2015. Observation: same effect as Written Contracts, vacations.
If you prefer viewing the relationship between active listings and written contracts, this chart provides a two-year history for comparison.
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