Hi Friends, today we will delve into the fascinating world of real estate metrics. For those of you who are either buyers or sellers, this analysis will shed light on the correlation between various key indicators in the market. So, let’s get started!
Firstly, let’s take a look at the Months Supply of Inventory, which stands at 1.91. This metric represents the number of months it would take to sell all the existing homes on the market if no new properties were added. A lower value suggests a seller’s market, where demand outweighs supply, leading to potentially higher prices.
Now, let’s examine the 12-Month Change in Months of Inventory, which indicates an impressive growth rate of +24.84%. This significant increase suggests that inventory levels have risen over the past year. Such a rise could potentially indicate a shift towards a buyer’s market, where supply exceeds demand, potentially leading to more negotiable prices.
Moving on, we have the Median Days Homes are On the Market, which is currently set at 24 days. This metric indicates the average number of days it takes for a property to sell. With a relatively low value like this, it suggests a fast-paced market, with homes selling quickly. This could be attributed to high demand and low inventory levels, which can create a competitive environment for buyers.
Next up, we have the List to Sold Price Percentage, which stands at an impressive 96.3%. This metric calculates the percentage of the original listing price that a property sells for. A high percentage like this indicates that sellers are achieving a substantial portion of their asking price, suggesting a strong market where buyers are willing to pay close to the listed price.
Lastly, we have the Median Sold Price, which currently stands at $460,000. This metric represents the midpoint value of all the homes sold in a given time period. It gives us a glimpse into the overall price range buyers and sellers are participating in. With a median sold price of $460,000, it suggests that the market consists of homes in this price range, and buyers and sellers are actively engaging within this bracket.
In summary, these real estate metrics provide valuable insights for both buyers and sellers. The low Months Supply of Inventory and fast Median Days Homes are On the Market indicate a competitive market, potentially favoring sellers. Meanwhile, the significant increase in the 12-Month Change in Months of Inventory may suggest a shift towards a buyer’s market. Additionally, the high List to Sold Price Percentage and Median Sold Price indicate a strong market with buyers willing to pay close to the asking price. Overall, this data showcases a dynamic real estate market, where both buyers and sellers can expect opportunities and challenges along the way.
Thank you for joining us today, and we hope this analysis has been informative and engaging for you as buyers and sellers in the real estate market.
If you have any questions and need help with market trends and updates, reach out to Jennifer Yoingco, REALTOR®, and her team in The Houston Suburb Group, so you can get ready to EXPERIENCE LIVING IN HOUSTON, TEXAS!
Jeanette San Luis is a blog contributor, a double degree major in BS Chemical Engineering and BS Nursing, and graduated Magna Cum Laude and Summa Cum Laude respectively. She has won numerous accolades and was named one of Houston Chronicles TOP 150 Outstanding Nurses in 2016 and 2019. In her dual role as a REALTOR®, she empathizes and understands the needs of her clients; therefore, you are in very good hands.
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