The Woodlands Market Update – It’s Hot!

freeimage-5412064The real estate market in The Woodlands is almost literally “on fire”.  Inventory of homes is at an unbelievable low, requiring buyers to be assertive in their purchasing strategies to secure the home they want.  Following are a few highlights from The Woodlands real estate market statistics, as of the end of February.

  • Number of home sales are up 31% for the year 2013.
  • Average sold $/SQFT is up 9% from February 2012.  My experience indicates that this number will continue to rise in the near future.
  • Average days on the market (DOM) for homes under contract in the month of February is 45.
  • On the last day of February, there were 372 homes for sale in The Woodlands.  This is a 1.5 month of supply for the current rate of sales.

In short, there are multiple buyers for every listing with most sellers receiving multiple offers.

Statistics in the Greater Houston area are not considerably different.  The following one-minute video summarizes a similar market situation throughout the Greater Houston area.

 

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