As of the end of August, the real estate market in The Woodlands is showing no signs yet of a slowdown in sales.
Despite 20% fewer listings on the market than last year, sales are up for the year so far just over 16%.
As inventory continues to decline, the market has become “unbalanced” in many key price ranges.
Real estate professionals use the term “balanced market” generally to mean that there are enough homes on the market to satisfy sales demand for 6 months. Fewer than 6 months is termed a seller’s market, and more than 6 months is identified as a buyer’s market.
The inventory of homes for sale in The Woodlands – in all price ranges up to $600,000 – is currently at a level to satisfy sales demand for 4 – 5 months (also called a 4 – 5 months’ supply).
Of course, statistics will vary neighborhood to neighborhood, but overall it is still a great time to sell in The Woodlands. If you have any questions about the real estate market in The Woodlands, or are interested in determining your own home’s value, please contact me anytime for a market evaluation.