Hi Friends, thank you for joining us today as we delve into the world of real estate metrics. Whether you are a buyer or seller, understanding these metrics is crucial in making informed decisions. So, let’s jump right into it!
First, let’s discuss the “Months Supply of Inventory,” which currently stands at 2.61. This metric gives us an idea of how long it would take for all the homes on the market to be sold, given the current pace of sales. A lower number indicates a seller’s market, where demand outpaces supply, leading to potentially higher prices.
Now, let’s examine the “12-Month Change in Months of Inventory,” which shows a significant decrease of -37.41%. This means that in the past year, there has been a steep decline in the number of months it takes to sell all available inventory. This is excellent news for sellers as it suggests a faster turnover rate and potentially increased competition among buyers.
Moving on, we have the “Median Days Homes are On the Market,” which stands at 71. This metric provides an average number of days it takes for a home to be sold after it is listed. With 71 days on the market, we can say that properties are moving relatively quickly, but it’s still important to note that individual circumstances can vary.
Next, let’s look at the “List to Sold Price Percentage,” which currently sits at 97.2%. This metric indicates how close the final selling price is to the initial listing price. A higher percentage suggests that sellers are achieving a higher percentage of their asking price. This can be seen as a positive sign for sellers, as it indicates that buyers are willing to pay close to the listed price.
Lastly, we have the “Median Sold Price,” which currently stands at $428,184. This metric provides the midpoint value of all sold properties in the given time period. It’s important to note that this figure can fluctuate based on various factors, such as the type of property and its location. However, it does provide a general idea of the market’s overall price range.
In conclusion, these real estate metrics provide valuable insights into the current market conditions. With a low months supply of inventory, a significant decrease in the months it takes to sell homes, and a high list to sold price percentage, we can infer that this is a favorable market for sellers. Additionally, the median days homes are on the market suggests a relatively fast-paced environment, which could benefit both buyers and sellers.
As always, it’s essential to consult with a real estate professional who can provide personalized advice based on your specific circumstances. Thank you for joining us today, and we wish you success in your real estate endeavors!
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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