Real Estate Market Report for The Woodlands TX - August/September 09' - By Ken Brand

Hello Friends,

Wondering whats going on in The Woodlands TX, real estate market? Are sales up or down? Are prices falling or stable?

Its been an interesting year and compared to real estate markets across the country, were blessed.

Year To Date there have been 1,501 Contracts Written (all brokers combined) compared to 1,848 in 08′. Thats 18.7% less. No big deal really. We can all be thankful that our market is the opposite of all the market horror stories we hear about. Sales prices have remained stable. General sentiment from buyers and sellers is positive. Yeah.

In August, according the HAR Multiple Listing Service, there were 173 Contracts Written. 7.4% fewer than August 08′. For the first time in months, Listing Inventory fell below previous years inventory. Current For Sale listings = 863. Last year at this time = 880. Average Days On Market for Active Listing Inventory = 106 Days. Average Days On Market for Sold Listings in August = 71 Days.

What does all this mean?
Look at the trend lines. Seasonality is about to kick in. There will be fewer sales and fewer active listings through the end of the year. Knowing this, what should we do?

Sellers Consider adjusting your price. If you have merchandising/staging things that can be done to enhance the perceived value and your competitive position, act now. Re-examine your marketing. Now is the time to take action.

Buyers Selection is good. If youre a 1st Time Home Buyer, time is running out on the 8K Tax Credit, get a move on. Mortgage rates are still at historic rates, which means you can buy more house for your money. No doubt, as the economy improves rates will rise and most likely home prices too. Act now, or?

Real Estate Agents There will be fewer listing selling opportunities in the last quarter. If youd like to keep your success steady, youll want to increase your personal contacts, conversations and networking. Ill be publishing more market data in the next few days. Till then, if you need anything or have questions, give me a call: Ken Brand 832-797-1779. Cheers.

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