Click HERE To view/download/print/share the full market report info.
BUYERS
Selection Is Excellent.
Mortgage Rates On The Rise, Move Swiftly.
Below $600,000 = Seller’s Market.
Above $600,000 = Buyer’s Market.
SELLERS
Below $600,000 = Seller’s Market.
Above $600,000 = Buyer’s Market.
Talking Points
- There are 921 active listings to choose from. $155,00 to $7,000,000.
- There are only 9 properties for sale below $200,000.
- For Sale listing inventory is down 13.6% 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 69 Days.
- The Average Active List Price = $773,774
- The Median Active List Price = $498,700
- The Average List Price of properties placed Under Contract in April = $487,817
- The Median List Price of properties placed Under Contract in February = $385,500
- Important! Of the 222 sales in June, 57.9% sold in 31 days or less. 128/221
- Average Days On Market for listings placed Under Contract in April = 41 Days On Market. Well marketed listings are selling faster and Average Days On Market are drifting steadily lower.
- We expect strong showing appointment activity and impressive Open House traffic beginning after the July 4th holiday week. As a result we expect the velocity of sales to remain strong through September .
In Conclusion:
Sellers: Competition among sellers remains fierce. However, due to smaller inventory and selection, selling conditions year to date are improved over 2017. Especially in the under $500,000 price range.
We expect buyer activity to remain strong through September.
57.9% of the listings that went under contract in June were on the market less than 31 days. New, well positioned listings are selling fast. Especially under $500,000.
To become a successful seller in this market requires smart strategy and an All-In mentality. All-In for both the listing agent, and the seller.
Buyers: Selection remains excellent today, but not for long. Shrinking inventory brings shrinking selection. For Prime Properties, buyers should anticipate that competition between buyers for properties below $500,000.
Mortgage rates and monthly payments remain beautifully low, but on the rise. Motivated Sellers are eager to hear from you. It’s a safe and smart time to make your move. Competition among buyers will elevate as we enter spring and summer. If you’re considering a move, the sooner the better.
Listing Inventory Month-By-Month.
2018 | Listings By Month and Price Range
2017 | Listings By Month and Price Range
Listings Placed Under Contract (Sales).
2018 Sales By Month and Price Range
2017 Sales By Month and Price Range
Months Supply Of Inventory By Price Range.
In Conclusion:
Sellers: Competition among sellers remains fierce. However, due to smaller inventory and selection, selling conditions year to date are improved over 2017. Especially in the under $500,000 price range.
We expect buyer activity to remain strong through September.
57.9% of the listings that went under contract in June were on the market less than 31 days. New, well positioned listings are selling fast. Especially under $500,000.
To become a successful seller in this market requires smart strategy and an All-In mentality. All-In for both the listing agent, and the seller.
Buyers: Selection remains excellent today, but not for long. Shrinking inventory brings shrinking selection. For Prime Properties, buyers should anticipate that competition between buyers for properties below $500,000.
Mortgage rates and monthly payments remain beautifully low, but on the rise. Motivated Sellers are eager to hear from you. It’s a safe and smart time to make your move. Competition among buyers will elevate as we enter spring and summer. If you’re considering a move, the sooner the better.
Click HERE To view/download/print/share the full market report info.
About ken@kenbrand.com
Ken is the General Sales Manager for The Woodlands Area Marketing Center for Better Home And Gardens Real Estate Gary Greene.
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Paradox. Surprise. Uncommon Sense. Irony. ELBs. Impressions. Observations. Less Blah Blah-More Ah-Ha.
If I can be helpful, call, text or eMail - Ken Brand | 832-797-1779 | Ken@KenBrand.com.
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