2023 vs. 2022: Unpacking the 40% Drop in Homes Sold and What It Means for You

By Diane Kink

Diane has deep roots in The Woodlands, where she has lived for over 30 years. She has raised her two children, Parker, who works in the commercial real estate industry, and Makenzie, who sells residential real estate in Salt Lake City, in this community. Giving back to the local area is a core value for The Kink Team, whether it's supporting Interfaith Of The Woodlands Programs or organizing events like The Kink Team’s Annual Shred Day to raise funds for The Interfaith Food Pantry. In her leisure time, Diane, along with her husband of over 37 years, Bruce, enjoys spending quality moments with their three grandchildren and exploring the world through travel.

The real estate market is ever-evolving, and as we step into the fourth quarter of 2023, it’s essential for both buyers and sellers to stay informed about the latest trends. Today, we’ll delve into the current state of the market, offering valuable insights to help you make informed decisions.

One of the most notable trends in the Woodlands, Texas, real estate market this year is the remarkably low inventory. For sellers, this is fantastic news! With inventory levels under 1.3 months, homes are flying off the market faster than ever. If you’re looking to sell your home, you can likely expect a quick and successful sale.

But what about buyers? Don’t worry; we’ve got you covered. Despite the limited inventory, we’ve successfully connected buyers with sellers and even unearthed off-market properties. It’s a win-win situation, whether you’re buying or selling.

In 2023, we’ve seen a 40% decrease in the number of homes sold compared to 2022. While this drop in sales may seem concerning, it’s primarily a result of the low inventory we mentioned earlier. The silver lining is that a staggering 80% of homes have sold in less than 30 days this year.

For sellers, this market presents an excellent opportunity. With the right staging and pricing, your home is likely to sell in less than 30 days. It’s a testament to the demand in the current market. So, if you’re considering selling, the time is right to capitalize on these favorable conditions.

Buyers, don’t be disheartened by the low inventory. We have a track record of successfully finding off-market properties for those struggling to find their dream home. We understand the challenges you face and are here to help you secure the right property.

Now that you’re better informed about the fourth-quarter 2023 market, you might have questions or need guidance. Simply give us a call, and we’ll be ready to support you in your real estate journey.