Conroe area leads Montgomery County’s growth
27 Jul 2015
By Marion Franke / Real Estate columnist
The overall dollar volume of real estate closings were 10.9 percent greater than the same period in 2014 comparing 2014 volume of $1,215,452,905 to this year’s $1,347,562,885.
According to data provided by the Houston Association of REALTORS Multiple Listing Service (MLS), the number of days on the market holds steady at 56 and 57 days. The only area with longer market times was The Woodlands where the days on the market saw a 11.4 percent increase from 44 to 49 days.
Conroe Area (MLS 19 – Northeast)
Total dollar volume of closed transactions soared another 31% in this part of the county with $98,697,136 in 2014 and $129,307,786 this year during the first six months alone. It took fewer days to rack up those transaction numbers too with days on the market going from 68 last year and less than two months (55 days) in 2015. The number of closed sales during the first half of the year saw a 20.6 percent increase (509 vs 614). Median prices in the Conroe area continue to rise with an 18.7 percent increase YTD. In the month of June alone, the area saw closed sales increase 39.2 percent over last year and total dollar volume jump 49.6 percent to $29,722,410.
The Woodlands Area (MLS 15 – Southwest)
Pending sales in June 2015 are 107.6 percent higher than June 2014 with a jump from 224 transactions pending to a whopping 465 sales preparing for a closing. The number of active listings are 45 percent higher leading to somewhat longer days on the market. Last year the average days on market were only 44 days and this year the time increased 11.4 percent to 49 days.
Although The Woodlands area real estate continues to grow, signs of slowing persist. The tiny 3 percent decrease in closed sales (2,088 home sold compared to 2,153 in 2014) is the first time we have seen lower numbers for some time. Still most indicators still show growth with total dollar volume of $767,398,464 which is a 5 percent higher volume than 2014. Median and average sold prices also continue to increase at a rate of 5.8 percent and 8.3 percent respectively.
Lake Conroe Area (MLS 39 – Northwest)
June 2015 pending sales in the lake area increased a remarkable 144.7 percent with potential buyers seeing more opportunity with 22.8 percent more listings on the market than last year. Year-to-date total dollar volume rose by 12.5 percent with comparative numbers of $241,148,225 in 2014 and $271,226,835 in 2015. The number of homes closed went from 821 in the first six months of last year to 885 this year.
East County Area (MLS 40 – Southeast)
Following the example of the Conroe area, this part of the county saw a 15.9 percent increase in the number of home sold so far this year. The total dollar volume of those sold homes is 24.1 percent higher with $144,784,612 in 2014 and $179,629,800 in 2015. Even with a 24 percent increase in the number of listings on the market, the average days a seller needs to sell dropped 8.5 percent to 65 days. Median and average sales prices are also climbing at the rate of 8.9 percent and 7.1 percent.
If you have been toying with the idea of selling your home, now may be the perfect time to learn how much it’s worth and explore your options for the next home.