December Statistics for The Woodlands, Texas

Single family home sales in The Woodlands in December was great compared to last year, up 31% from the prior year.  All indications show that this should be a very good spring in real estate in the area. We all are weary as to how the drop in oil prices will effect the economy.  I was at a presentation last week where Ted Jones, Chief economist for Stewart Title, spoke and showed historically how it does effect real estate.  Typically, the effect will follow six months later.  In past years in this area, the Houston market was not as diverse as it is today.  His opinion is that we will be effected some, but not as we have been in past years. As good as the market is today, a slight drop will still be a good business.  What sellers and buyers need to know is that as good as the market is, it is not a seller’s market in price points over $1 million dollar homes and in $500,000 and above in homes without pools. Note the statistics below.  A stable market is six months of supply. Above that is a buyer’s market and below that a seller’s market. Also a consideration is where the home is located. We all know that location is always one of the most important attributes of real estate, so if a home is located in a highly desirable location then the overall stats will most likely not apply.  If you have any thoughts about where your home is in the market and what the market value is, please call me and I can let you know.