The Woodlands Market Feb 08

The Woodlands Blog — Fri, 18 Apr 2008 20:50:00 GMT

The Woodlands and surrounding markets in Area 15

Single-family home sales in The Woodlands are down by 39 units from this time last year or 7.33% with 493 home sales recorded.
Contracts written, a better indicator of current demand, show 410 pending sales have been written year-to-date. That is a 21-unit decrease over that which was written in February 2007.
Listings in The Woodlands are up by 8.76% with 1,589 homes on the market registered in February 2008 as compared to 1,461 in February 2007.
Average sales price in The Woodlands is $260,529, which is 1.01% less than February 2007, which averaged $263,197. The median price is UP by .49% and the median for February 2008 was $190,000.
The Woodlands has a 4.5-month supply of inventory, which indicates the area is a sellers market. Days on the market to sell a home has declined in The Woodlands from this time last year from 81 DOM in February 2007 to 77 DOM in February 2008, representing a 4.94% decline.
The Woodlands ranked #7 on the Houston Hotness Index for February 2008 because 12.6% of its inventory received contracts during that one month.