Posted on December 13, 2007
- The Woodlands
Home sales in The Woodlands are down by 134 units year-to-date through November 2007 in comparison to the same time last year. This represents a 3.2% decline with 4,048 home sales recorded.
While the sales are close to keeping up with 2006 figures, current sales are 7.3% greater than November YTD 2005 figures, which had a total of 3,773 home sales. Contracts written, a better indicator of future demand, show 2,848 pending sales have been written year-to-date. This is a 110-unit decline over that which was written November YTD 2006. Listings in The Woodlands are up by 7.39% with 1,686 homes on the market in November YTD 2007 as compared to 1,570 in November YTD 2006.
Average sales price in The Woodlands is $278,173, which is 6.22% greater than November YTD 2006, which averaged $261,884. The median sales price for The Woodlands, where half the homes sold above and half sold below the median sales price was $207,370 and that figure is up from this time last year by 6.34%. In the last two years, [since 2005], The Woodlands has experienced a 13% increase in average sales price! This is a much more fortunate circumstance than found anywhere across the nation. The Woodlands has a 4.5-month supply of inventory, which indicates the area is a sellers market. Days on the market to sell a home has declined in The Woodlands from this time last year from 74 DOM in November YTD 2006 to 69 DOM in November YTD 2007. The Woodlands was ranked #8 on the Houston Hotness Index for November 2007 because 11.7% of all listings received a contract during that one month. Conroe · Sales are down by 71 units in NW Montgomery County in comparison to November YTD 2006 with 1,396 homes sales recorded in MLS as compared to 1,467 last year.
· Contracts written year-to-date are down 1.73% with 909 recorded pending contracts year-to-date as opposed to 925 last year.
· Listings are up over this time last year by 4.36%. There are currently 1,006 homes on the market in the area.
· Average sales price is up over last year [7.76%] and currently stands at $226,616. The median sales price is up by 6.90% and is $168,900.
· The area has 7.7 months of inventory. The average price per square foot is $97 and days to sell a home are 97, which is down from last years’ 100.
· The Houston Hotness Index indicates that the Conroe area sold 7.6% of its single-family home supply in the month of November 2007.
Data derived from the Houston Association of Realtors Multiple Listing Service and written by Toni Nelson, Director of Strategic Initiatives for Prudential Gary Greene, Realtors in Houston, Texas.
