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As of March 1st, we have 513 active listings in The Woodlands. Our inventory is now 30% lower than the same time a year ago, creating challenges for finding buyers homes!
We have sold 257 homes YTD in 2012 as compared to 262 homes in the same time period in 2011. While this is down slightly, 2%, we feel it is largely due to the lack of homes to sell. Many buyers are continuing to watch for homes to come on the market, and it is not uncommon for sellers to receive multiple offers.
Average days on market is based on the sales for the given month. Our average DOM for this year is 89 days, down from 125 days for the same time frame last year.
The average list price sales price ratio is also based on sales for a given month. Sellers are averaging 94.65% for all price ranges this year as compared to 94.8% last year. ..this has virtually remained unchanged.
Now to average months of inventory. We are currently at 3.8 months for all price ranges. Months of inventory has remained at this level this year. Price ranges under $700,000 have continued to do the best, with all price ranges less than $700,000 having less than 6 months of inventory, while price ranges $700,000 and above have 8-11 months of inventory. Homes priced over $1 million have had the greatest improvement in these higher price ranges. If you would like this information for a specific price range, please contact us.
Showings have improved with 4,561 showings in February 2012 as compared to 4,324 last year in February. Glad to see buyers out looking!
Lots of excitement this time of year, with more homes being listed in the upcoming months. Buyers will need savvy Realtors as some homes are selling before they ever make it on MLS. Sales are expected to be healthy.
The weather is starting to warm up and spring is just around the corner, starting our busiest time of year….the air is full of excitement!
Visit www.MicheleFlory.com for details by list price ranges.