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The Swell Is Big and Exciting
A Smidge Fewer Sales.
January – August 2014 = 2,037 Homes Under Contract <-8%>
January – August 2013 = 2,222 Homes Under Contract
2014 will go into The Woodlands real estate history books as the 2nd best year for total number of home sales. 2015 will go down in history at the best year ever for number of home sales and new record high sold prices. Why? Because all those construction cranes dotting the skyline will come down, ginormous buildings with millions of square feet of office space will open for business and thousands of people not-here-now will fill them. More bees needing new hives means more home sales. Low supply and high demand means higher prices.
Selection Improves. But Not For Long.
For Sale inventory in all price ranges has improved. Toady’s current inventory of 666 homes is up a staggering 67% compared to last years shockingly low inventory of only 388 homes For Sale.
If you’re thinking of buying, strike now. When all the new neighbors arrive to begin work in 2015, inventory will plunge and home prices will power higher. Why pay more when you can pay less – act now!
More Juicy Listing Stats for the Data Geeks – 9/25/2014
Average List Price = $786,413 | Average List Price Per Square Foot = $207
Median List Price = $500,000 | Median List Price Per Square Foot = $150.84
Lease Expensive Home in The Woodlands = $153,108
Most Expensive Home in The Woodlands = $16,800,000
What About Home Prices?
I paddled into the Houston Association Of REALTORS MLS stats and compared 2013 Closed Homes Sales to 2014 Closed Home Sales.
2014 Total Closed Sales = 531 <-10%> | 2013 Total Closed Sales = 590
2014 Average Sold Price = $426,654 <+17%> | 2013 Average Sold Price = $364,400
2014 Median Sold Price = $343,000 <+8%> | 2013 Median Sold Price = $317,305
2014 Average Days On Market = 30 Days | 2013 Average Days On Market = 27 Days
List Price To Sold Price % = 98% for 2014 and 2013
What do you think prices will do in 2015? Bamboo.
As under construction buildings open for biz and queen bees, king bees and worker bees begin making honey, they’ll move themselves, families, partners and pets into new digs. Buyer competition will keen, inventory will tighten and prices will climb like vines.
If you’re a buyer, act now if you can. Selection is better and prices will go higher.
If you’re a seller moving up in price, act now. Selection is better now and prices are on the rise.
If you’re a seller and you’re buying down in price, 2015 is your year. Wait and maximize your profits.
If you need expert advice on what’s happening in your specific neighborhood and the best course of action for you and yours, let us know.
Ken Brand 832-797-1779
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