Sales UP. Selection UP. Opportunities UP.
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Listing Inventory – Favorable for buyers shopping above $600,000. Favorable for sellers listed below $600,000.
- Listing Inventory is UP 64% and holding steady between 700 and 740 active listings. Today there are 731 active For Sale Listings in The Woodlands. Last year at this time there were 445. Good news for home shoppers, there’s 64% more to choose from. Selection is way UP. More selection for buyers means more competition between sellers.
- Above $600,000, sellers and their agents now compete in a buyer’s market.
- Below $600,000 remains a seller’s market and keen competition between buyers.
- Least expensive property in The Woodlands? A 1,152 sq. ft. property on Blue Fox, listed for $154,900. The most? A 30,717 sq. ft estate property in the gated community of Carlton Woods. $16,000,000.
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Sales Activity – Steady and Strong.
- April sales totaled the second highest number in the history of The Woodlands (see picture below). Last April the price for one barrel of West Texas Intermediate crude oil stood at some 102.07 U.S. dollars. Apparently the media doom, gloom and the-real-estate-market sky-may-fall due to lower oil prices does not apply to The Woodlands. Thankfully.
- While sales activity is steady and strong in general, the numbers of sales relative to this years inventory has shifted sellers in price ranges above $600,000 into a more competitive for sellers, buyer’s-market. (See the Months Supply Of Inventory picture above.)
- Looking forward, sales in the coming months should remain strong and steady, equalling or possibly exceeding last years totals. If stability in the oil market returns, a surge in sales is sure to follow.
Buyer Challenges when shopping below $600,000:
- Competition for prime properties below $600,000 is keen. It’s a seller’s market below $600,000.
- Quick decision making is required, prime properties sell fast.
- Less negotiation power for price and terms.
- Lost opportunities due to an unrealistic I-want-a-steal mentality.
Buyer Opportunities in all price ranges:
- The selection of homes is the best it’s been in years.
- For the I-have-to-sell-before-I-buy-but-I’ve-been-putting-it-off-because-I-was-afraid-I-couldn’t-find-anything-to-buy buyer, we have great news! Selection is up, up up.
- Buyer’s shopping in the over $600,000 price range enjoy a buyer’s market; better selection, less buyer competition and favorable negotiating strength.
Seller Challenges:
- While still a seller’s market below $600,000, competition with other motivated sellers and builders to attract a qualified buyer is growing.
- For sellers priced above $600,000 it’s a buyer’s market. A buyer’s market means less seller negotiating leverage for price and terms.
- Seller’s may have to respond quickly and aggressively to price reductions from their competition.
- Competitive pricing, thoughtful merchandising, muscular marketing and keen negotiating skills are key factors in a successful sale.
- Choosing a weak broker or agent can lead to lost sales opportunities, a lower sold price, inconvenience and extended days, weeks or months on the market.
Seller Opportunities:
In price ranges below $600,000, aggressively marketed, well located and competitively priced properties enjoy a seller’s market. In a seller’s the seller enjoys more negotiating and pricing power.
For sellers in all price ranges, hundreds and hundreds of inbound corporate transferee buyers will be moving to the area through the third quarter. Strong and steady buyer activity is expected throughout the year.
Click HERE to download, view and share all The Woodlands market reports.
If you have any questions about the real estate market or I can be helpful, let me know. Thanks – Ken Brand 832-797-1779
Here’s the full set of market data for The Woodlands TX
If you have any questions about the real estate market or I can be helpful, let me know. Thanks – Ken Brand 832-797-1779
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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