“Woodmoor” has remained amazingly consistent over the past 12 months. It should come as no surprise that “Woodmoor” is a cyclical market. As you can see from the chart below the number of sales really spikes as we head into the spring market and tapers off once school starts up. So, when we look at the number of currently active listings (40) in relation to the normal Spring activity the market horizon actually looks good. Having said that, the homes that are selling are well priced, well staged and aggressively marketed.

The Average sales price $353,500 is down 5.18% from January of last year, not great news but considering the state of the national market, we are lucky. The listing discount from January of 2011 was 5.37%, this is about 2.5 % higher then we usually see.

The most encouraging statistic is the Months of inventory; there is a 5.65 months supply of homes on the market. Industry standard for a “balanced” market is 6-Months so officially we are in a sellers market? Here in the trenches, it certainly doesn’t feel that way. I think what’s really happening is that a lot of listings that would normally be on the market are being leased. Sellers weren’t willing to take the hit, so they found a renter (easy these days, thanks to short sales and foreclosures) and decided to wait out the market. We aren’t really going to know what the true state of the market is until the end of the second quarter.

For the time being, “Woodmoor” is holding steady and unless we see a big influx of new listings in the next 60 to 90 days it looks to be a good Summer for home Sellers.