The Woodlands Real Estate Blog

THE WOODLANDS, TX - That existing home sales were down minus 0.8 percent in The Woodlands in February would normally indicate a dwindling market. However, the homes sales market in The Woodlands remains vibrant.

A total of 259 homes were sold in The Woodlands and South Montgomery County, compared to 261 in Feb. 2013. Despite a drop in inventory, The Woodlands area ranks No. 1 among home markets in Texas.

For the entire county, existing home sales in February 2014 rose 8.6 percent. There were 507 homes sold in February compared to 467 in Feb. 2013.

With 2,000 people moving into Harris and Montgomery counties each day, prospective buyers are turning to new homes. Construction of a new home takes approximately 6 to 8 months, she said.

Judging by the median prices of existing homes, it's still a sellers' market. According to information provided by the Houston Association of Realtors, median prices increased a minimum of 14.5 percent. The median price of a home in The Woodlands increased 19.7 percent ($257,250 vs. $215,000).

Other median prices for February 2014 were $190,000 for East County (up 28.8 percent), $242,380 for the Lake Conroe and West County areas (24 percent increase) and $135,000 for homes sold in the Conroe area (14.5 percent up)

Days a home is on the market is a telling statistic. Year-to-date figures required 81 days in 2012, but only needed an average of 64 days before closing on a sale in 2013.

For more information about the homes sales market in The Woodlands and homes for sale in the area, please contact Tamborrel Properties at (832) 482-9367. We will gladly help you find the ideal home for you and your family.

Source: yourhoustonnews.com