by KEN BRAND September’s real estate market sucked lemons. Hurricane Ike plus the Wall Street meltdown tranquilized the market. I see evidence that the hangover effects are ebbing, activity and action shouldl improve in October. Here’s a snap shot of what happened. (Statistics obtained from the Houston Association of Realtors, Multiple Listing Service - Market Area =The Woodlands, Texas) Contracts written on listings fell 29.5% in September. The total number of September 08′ written sales = 117 / September 07′ written sales = 166 Listing Inventory fell by 10% as well. There are fewer homes for sales today than last year at this time. Active listing inventory on October 5th, 08′ = 800. This is good. There is a 5.1 month supply of available For Sale inventory. Real estate economists believe that 6 months of supply represents a balanced real estate market. The Woodlands Texas real estate market is skewed towards a seller’s market - still. Average Days On Market for Sold Listings in September bloomed from 57 Days On Market in September 07′ to 80 Days On Market for September 08′. Not too shabby. Average Sold Price in The Woodlands Texas for September 08′ is $375,706. Average Sold Prices have slowly and steadily risen 26.8% over the last two years. This is positive. The Average September Sold Price To Original List Price Percentage for The Woodlands Texas = 96% (The Prudential Gary Green Average leads all major brokers in The Woodlands, Texas. See market share reports below). Bottom line = September sucked for written sales. For Average Sold Prices and Listing Inventory, September was fine. October results should bounce forward. To download the complete collection of market reports - Real Estate Market Reports - Full Collection, The Woodlands Texas, October 5th, 2008 Any questions or comments, feel free to give me a call - Ken Brand 832-797-1779 77381, 77382, 77380, 77384, 77386Real Estate Market Report Run Down For The Woodlands, Texas
on OCTOBER 5, 2008
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