Hi Friends, today we will delve into the fascinating world of real estate metrics. Whether you are a buyer or a seller, understanding these metrics will undoubtedly help you navigate the ever-changing real estate market with confidence and clarity.
Let’s begin with the first metric, the “Months Supply of Inventory,” which currently stands at a healthy 1.25. This metric essentially measures how long it would take to sell all the available homes on the market at the current sales pace. A lower number indicates a seller’s market, where demand outweighs supply, leading to potentially higher prices and quicker sales.
Now, let’s shift our attention to the “12-Month Change in Months of Inventory,” which has seen a significant increase of 15.74%. This metric informs us about the change in the supply of homes over the past year. Such a substantial increase suggests that the market may be shifting towards a buyer’s market, where there are more homes available relative to the number of buyers. This could potentially result in a slower pace of sales and more negotiating power for buyers.
Moving on to the “Median Days Homes are On the Market,” we find an impressively low number of just 9 days. This metric indicates how quickly homes are being snapped up by eager buyers. With such a short duration, it is evident that homes are in high demand, and sellers are benefiting from a fast sales process.
Our next metric, the “List to Sold Price Percentage,” is an intriguing one. It currently stands at 100.2%, which means that, on average, homes are selling for slightly above their listing price. This suggests that buyers are willing to compete and pay a premium to secure their desired properties. For sellers, this metric is undoubtedly a positive sign, indicating that they have the potential to earn a higher return on their investment.
Lastly, let’s explore the “Median Sold Price,” which sits at a respectable $307,500. This metric provides us with a snapshot of the midpoint of the range of sold prices in the market. It is crucial for both buyers and sellers to be aware of this figure to ensure they are making informed decisions about their real estate transactions.
In conclusion, these real estate metrics provide valuable insights into the current market conditions. While the supply of homes has increased over the past year, we are still experiencing a relatively low inventory. This, coupled with the high demand from buyers, has resulted in homes selling quickly and often above their listing price. As a buyer, it is important to act swiftly and be prepared to compete in this fast-paced market. On the other hand, sellers can take advantage of the current conditions to potentially earn a higher return on their investment.
We hope this analysis has shed some light on the correlation between these real estate metrics. Whether you are buying or selling, understanding these factors will undoubtedly help you make the best decisions in this dynamic 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.
Download our FREEBIES here!
The Ultimate Home Buyer’s Guide
The Ultimate Home Seller’s Guide
Find us on YouTube!
#jenniferyoingcorealtor #jenniferyoingco #JenniferYoingcoTexas #houstonsuburb #houstonsuburbs #houstonsuburbgroup #texasrelocationexperts #HoustonRelocationExpert #HoustonRelocationSpecialist #NurseRelocationExpert #NurseRelocationSpecialist #newhomeconstruction #thehighlands #ravennahomes #ravennahomesforsale #ravennahomesrealtor #ravennahomesrealestateagent #springtexas #tomballtexas #livinginhoustontexas #livinginhouston #thewoodlandstexas #conroetexas #montgomerytexas #cypresstexas #newcaneytexas #portertexas #katytexas #pearlandtexas #richmondtexas #fulsheartexas #sugarlandtexas #houstontexas #magnoliatexas #hockleytexas #pinehursttexas #jerseyvillagetexas #humbletexas
