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Michele Flory

The Woodlands Real Estate - March 2010

The Woodlands Real Estate Market - March 2010

The Woodlands real estate market continues to mirror last year's sales at continued lower inventory levels. With interest rates at record lows plus continued employment gains in our market, The Woodlands real estate market remains hot! Next post, "YTD Sales By List Price Range". As always, if you can't wait, visit Michele Flory at www.MicheleFlory.com for all the details by list price range.
Data Source: HAR

The Woodlands Texas Real Estate - February 2010 Days On Market

The Woodlands Real Estate - February 2010 Days On Market

Days on market is defined as number of days from listing date to executed(finalized) contract date. While areas of the country still struggle with 180+ days on market, The Woodlands began the year at less than 90 days; better than previous two years. Being a chart of averages, there are still homes that receive multiple offers on initial listing date.

As we move into the "real estate season" in our market, the days on market will begin to trend down. Visit Michele Flory for days-on-market details by list price range. For information on The Woodlands community, schools, events, and lifestyle, visit ExperienceTheWoodlands.com
Data Source: HAR

The Woodlands Real Estate - February 2010 List Price vs. Sales Price

The Woodlands Real Estate - February 2010 List Price vs. Sales Price

For ten years prior to 2009, homes in The Woodlands sold at an average 97% of list price. Our percentage dropped during 2009 primarily due to buyers moving to The Woodlands making lower-than-normal offers on homes with days-on-market numbers exceeding 90 days. Compared to the 20-40% drop in list prices elsewhere in the country, our market's 1.7% drop from 2008 to 2009 was acceptable! Although impossible to develop a trend based on one month's number, January 2010 looks much improved over January 2009.

Every month, there are still individual homes in all price ranges sold at 100% of list price within 5 days on the market. Looking closer, the explanation is always great curb appeal, major updates and/or location. Next post will be Days-On-Market in The Woodlands. Visit Michele Flory for details on List Price vs. Sales Price by list price ranges.

The Woodlands Real Estate - February 2010 Months of Inventory

The Woodlands Real Estate - February 2010 Months of Inventory

The Woodlands Texas real estate market remains balanced according to National Association of Realtors definition.

Months of inventory is calculated by dividing total active listings in a given month by the average of the last 12 months sales. The result indicates the number of required months to sell all of the current listings. A number below 6.0 is defined as a seller's market; there are more buyers than available listings. A number above 6.0 is defined as a buyer's market; there are more active listings than buyers.

Our market is in the "sweet spot" zone; a good balance of buyers and sellers. For sellers, this means expectation of a reasonable return on investment. For buyers, this removes the concern about purchasing a home in a declining market.

Our next post will focus on List Price versus Sales Price percentages in The Woodlands real estate market. If you need to know immediately, visit Michele Flory for all the details by list price range.

The Woodlands Real Estate Market - Part 5 - List Price versus Sale Price

The Woodlands Real Estate Market - List Price versus Sale Price per Michele Flory research data

The January sale price as a percent of list price in The Woodlands was 93.5.

Every calendar year begins at a lower percentage than the average 97%. Homes closed in January were the result of negotiated contracts in December. The last month of the year is traditionally a slower market for property showing appointments; resulting in sellers being more flexible on sale price.

List price is established prior to the actual listing in HAR. The Realtor prepares a Comparative Market Analysis (CMA) based on the actual sales history within the last three to six months of comparable homes...location, condition, amenities, etc. Knowing that homes in The Woodlands sell for an annual average of 97% of list price, a negotiating amount is added to arrive at the final list price.

We still see sale prices over 100% of the list price in our market; a result of multiple offers. We have also seen very few homes sell in the 80% range; a result of the seller establishing original list price rather than using market analysis provided by Realtor.

This year will be a banner year for home values in The Woodlands. Homes in great locations with updated amenities will sell at premium price levels.

Visit Michele Flory for charts by list price range.