Curious how The Woodlands real estate market has performed so far in 2011?
Take a look at the following key statistics for The Woodlands real estate market. These are year-to-date numbers.
- Unit sales (number of homes sold) are up 13.3%
- Inventory (number of homes for sale) is down 22.7%
- The average price of homes sold is flat
- Average days on the market has declined from 89 days to 82 days
Real estate professionals and statisticians indicate that a balanced real estate market holds a 6-month supply of inventory. Any amount less than a 6-month supply indicates a seller’s market, and any amount over can indicate a buyer’s market. Note the following months of supply by price range in The Woodlands, as of December 2011.
Price Range Months of Supply
$200,000 – $300,000 4.0
$300,001 – $400,000 4.0
$400,001 – $500,000 3.7
$500,001 – $600,000 3.9
$600,001 – $700,000 4.7
$700,001 – $800,000 9.1
$800,001 – $900,000 9.1
$900,001 – $1,000,000 9.3
If you have questions about a specific neighborhood, I always recommend consulting with your real estate advisor as real estate is very, very local. Individual neighborhoods always have unique dynamics that vary from the market’s overall total. If we can help you by putting together a complimentary market snapshot for a specific neighborhood, please let us know.
We will recap the year in The Woodlands real estate market next month.