The Woodlands Housing Market Report

My Friends in The Woodlands – Have you wondered what our spring/summer housing market is doing???

Here’s the latest!

BUYERS
Selection Is Excellent! Mortgage Rates On The Rise↑
It’s a Seller’s market below $500,000 and a Buyer’s Market Above $600.000

SELLERS
Below $500,000 = Seller’s Market.
Above $600,000 = Buyer’s Market.

Talking Points
There are 814 active listings to choose from $159,900 to $7,850,000.
There are only 5 properties for sale below $200,000.
For Sale listing inventory is down 24.14% compared to last years selection at this time. This is positive news, less inventory means less competition between sellers.
For buyers, less inventory means less selection and more competition between home buyers for prime properties.
Average Days On Market for active listings 67 Days. Falling from 77 Day On Market in April.

Important! Of the 220 sales in April, 61% sold in 31 days or less. 142/233

The Average Active List Price = $823,629
The Average List Price of properties placed Under Contract in April = $517,188
The Median Active List Price = $531,200
The Median List Price of properties placed Under Contract in February = $424,857
Average Days On Market for listings placed Under Contract in April = 42 Days On Market.

Well marketed listings are selling faster and Average Days On Market are drifting steadily lower.

We are experiencing strong showing appointment activity and impressive Open House traffic. As a result we expect the velocity of sales to surge into spring. Historically, May, June and July are the most active sales month of the year.

In Conclusion:

Sellers: Competition among sellers remains real. However, due to smaller inventory and selection, selling conditions are improved over 2017. Especially in the under $500,000 price range. We expect buyer activity to accelerate through the spring. Historically, May, June and July are the most active sales month of the year. We don’t anticipate spiking sales prices, we do anticipate properties selling faster.