Archive for the ‘Market Stats’ Category
Market report for The Woodlands for June 2008
July 16th, 2008 categories: Market Stats, The Woodlands
The Woodlands real estate market is performing beautifully right now… the absorption rate is a rocketing 3.2 months!!! This is formidable when one considers the backdrop against which this is occurring… national price drops, sub-prime chaos, oil-price shocks and extreme stock-market volatility. Sellers are also achieving very good prices relative to asking price… a less than 3% difference which is a very full price in most situations. The slight blemish is the days on market (DOM)… it would have been really nice if that number is a little lower… waiting around 80 days to sell a home is a little longer than one would expect in a market with such a fast absorption rate.
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Market report for Sugar Land for June 2008
July 15th, 2008 categories: Market Stats, Sugar Land
Just like The Woodlands, Sugar Land has had a pretty phenomenal June… pushing the absorption rate down to an incredible 3.9 months!!! Realtors are doing a great job here in closing deals in what many are thinking is a tough market. Notice how sellers are accepting price reductions of up to 6% to close the deal and move on. A very practical, “can do” society in Sugar Land… it’s time to work and move to a new job and nothing is going to slow us down!!
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Market report for Katy for June 2008
July 14th, 2008 categories: Katy, Market Stats
Katy has had a very good June… the absorption rate is down to a very attractive 4.5 months. Not quite as active as The Woodlands and Sugar Land but a very good result nevertheless. Compared to Sugar Land, the Katy owners are not discounting nearly as much…. Sugar Land’s sell price vs list price was 94% so Katy sellers are doing much better at 97%. It’s taking around 88 days to sell though which is not all that speedy!
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Sugar Land Real Estate Market Report for May 2008
June 11th, 2008 categories: Market Stats, Sugar Land
Sugar Land Real Estate Market Report - May 2008
After The Woodlands, Sugar Land has the next best absorption rate… 4.4 months!!! So, this market is doing very well for it’s sellers. Sellers are giving up quite a discount off their asking price though… but, that’s what you have to do sometimes to move your property. Better than struggling to sell and losing other opportunities. This seems to be in stark contrast to some other areas. The realtors in Sugar Land must be doing a good job informing their clients on how best to move their properties. A very good result for Sugar Land. Those home owners still on the market are sitting with an average DOM of 87… well, you know what to do to move that property! The data suggests that the selling price is about 10% less than what you’re currently asking. So, either move your price in line with where the market is at or don’t negotiate too hard on an offer… give them up to 5% and you’ll still be ahead of the game!
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Katy Real Estate Market Report for May 2008
June 11th, 2008 categories: Katy, Market Stats
Katy Real Estate Market Report - May 2008
A healthy market for May 2008… absorption rate (how many months it will take to sell out current inventory at current rate of selling) is less than 6 months, a positive sign for sellers. More than 6 signals a buyer’s market.
Days on market for active listings is stretching… average asking price of sellers is 10% higher than average sold price. Sellers would do well to lower their asking prices. Get the home sold, move on. What you might lose on this deal, you’ll make up for on the next deal. Buy bigger and you’ll actually end up making money on the swap.
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