Hi Friends, today we will delve into some key real estate metrics that are of utmost importance to both buyers and sellers in the housing market. By analyzing these metrics, we aim to provide you with valuable insights that can help inform your decision-making process. So, let’s jump right in!
First and foremost, let’s discuss the Months Supply of Inventory. Currently, the market has a supply of 4.61 months, indicating the length of time it would take to sell all available homes if no new properties were listed. A lower number suggests a seller’s market, where demand outweighs supply, potentially leading to higher prices and quicker sales.
Now, let’s examine the 12-Month Change in Months of Inventory, which stands at a significant increase of +21.64%. This implies that inventory levels have risen over the past year, indicating a potential shift towards a buyer’s market. This increase in supply could potentially offer more options for buyers and may contribute to a more balanced market.
Moving on, we have the Median Days Homes are on the Market, which currently stands at 57 days. This metric represents the average number of days it takes for a property to sell from listing to closing. A lower number suggests a faster-paced market, where homes sell relatively quickly. Conversely, a higher number may indicate a slower market, warranting more patience for sellers.
Next, let’s discuss the List to Sold Price Percentage, which currently stands at an impressive 96.8%. This metric reveals the percentage of the original listing price that homes are typically sold for. A higher percentage suggests that sellers are receiving offers close to their asking price, indicating a strong market where buyers are willing to pay a premium.
Lastly, we come to the Median Sold Price, which currently stands at an impressive $2,152,000. This metric represents the middle value of all sold prices in the market. It provides a snapshot of the overall price range and can be used as a reference point for both buyers and sellers. A higher median sold price suggests a more affluent market, while a lower median sold price may indicate more affordable options.
In conclusion, these real estate metrics paint an intriguing picture for both buyers and sellers in the market. While the Months Supply of Inventory and the 12-Month Change in Months of Inventory indicate a potential shift towards a more balanced market, the Median Days Homes are on the Market and the List to Sold Price Percentage demonstrate a fast-paced market with strong buyer demand. Additionally, the impressive Median Sold Price reflects a market with high-value properties.
We hope that this analysis has provided you with valuable insights into the current real estate market. Whether you are a buyer or seller, understanding these metrics can help you navigate the market with confidence. Happy house hunting or selling!
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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