Hi Friends. Today, we will be discussing some important real estate metrics that both buyers and sellers should pay attention to when navigating the housing market. By analyzing these metrics, we can gain valuable insights into the current state of the market and make informed decisions.
First, let’s examine the “Months Supply of Inventory.” This metric represents the number of months it would take to sell all the current listings on the market, given the current sales pace. In this case, the months supply of inventory is 2.27. This suggests that if no new properties were listed for sale, it would take approximately 2.27 months to exhaust the existing inventory. A lower value indicates a seller’s market, where demand outpaces supply.
Next, let’s consider the “12-Month Change in Months of Inventory,” which is currently at +10.73%. This metric measures the percentage change in the months supply of inventory compared to the same period last year. A positive value indicates an increase in inventory, which may suggest a shifting market. In this case, the increase in inventory could provide buyers with more options and potentially more negotiating power.
Moving on, we have the “Median Days Homes are On the Market,” which stands at 40. This metric represents the average number of days it takes for a property to sell once it is listed. A lower value indicates a faster-paced market, where properties are selling quickly. In this case, a median of 40 days suggests that homes are generally selling at a reasonable pace.
Now, let’s talk about the “List to Sold Price Percentage,” which is currently at 96.8%. This metric reveals the average percentage of the listing price that properties ultimately sell for. A higher value indicates that sellers are receiving offers close to their asking price. In this case, a list to sold price percentage of 96.8% suggests that sellers are, on average, receiving offers very close to their asking price.
Lastly, we have the “Median Sold Price,” which currently sits at $363,204. This metric represents the middle point of all the sold prices in a given period. It provides an indication of the general price range of homes that are selling. In this case, the median sold price of $363,204 suggests a moderate price range, indicating a market that may be attractive to both buyers and sellers.
In summary, these real estate metrics provide valuable insights for both buyers and sellers. The months supply of inventory and the 12-month change in months of inventory indicate the overall supply and demand dynamics of the market. The median days homes are on the market reveals the pace at which properties are selling. The list to sold price percentage provides information on the negotiation power of buyers and sellers. Lastly, the median sold price gives an indication of the general price range of homes that are selling.
By keeping a close eye on these metrics, buyers and sellers can make informed decisions that align with the current state of the market. Whether you’re looking to buy or sell, understanding these metrics will help you navigate the real estate market with confidence. Thank you for your attention, and I 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.
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
