Thursday, August 6, 2015 / by Marion Franke
Conroe Area Leads Montgomery County’s Growth this Year
Real estate sales surge in the Conroe area by more than 20.6% leading an overall growth of sales in all areas of Montgomery County with a 4.8% percent increase in closed transactions. The overall dollar volume of real estate closings were 10.9% 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% 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% increase (509 vs 614). Median prices in the Conroe area continue to rise with an 18.7% increase YTD. In the month of June alone, the area saw closed sales increase 39.2% over last year and total dollar volume jump 49.6% to $29,722,410.
The Woodlands Area (MLS 15 – Southwest)
Pending sales in June 2015 are 107.6% 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% 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% to 49 days.
Although The Woodlands area real estate continues to grow, signs of slowing persist. The tiny 3% 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% higher volume than 2014. Median and average sold prices also continue to increase at a rate of 5.8% and 8.3% respectively.
Lake Conroe Area (MLS 39 – Northwest)
June 2015 pending sales in the lake area increased a remarkable 144.7% with potential buyers seeing more opportunity with 22.8% more listings on the market than last year. Year-to-date total dollar volume rose by 12.5% 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% increase in the number of home sold so far this year. The total dollar volume of those sold homes is 24.1% higher with $144,784,612 in 2014 and $179,629,800 in 2015. Even with a 24% increase in the number of listings on the market, the average days a seller needs to sell dropped 8.5% to 65 days. Median and average sales prices are also climbing at the rate of 8.9% and 7.1%.
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.