s a real estate professional analyzing the current market trends, it is evident that there is a correlation between the Months Supply of Inventory, the 12-Month Change in Months of Inventory, the Median Days Homes are On the Market, the List to Sold Price Percentage, and the Median Sold Price.
With a Months Supply of Inventory at 4.73, this indicates that the market is leaning towards a seller’s market as inventory is relatively low compared to the demand for homes. The 12-Month Change in Months of Inventory increasing by +28.18% shows that there has been a significant shift in the market, with more inventory becoming available over the past year.
The Median Days Homes are On the Market at 90 days suggests that properties are selling relatively quickly, indicating a strong demand from buyers. The List to Sold Price Percentage of 96.6% demonstrates that homes are typically selling close to their asking price, showing that sellers are pricing their properties competitively.
Lastly, the Median Sold Price of $1,442,500 reflects the current market value of homes in the area. This data, combined with the other metrics, provides valuable insights for both buyers and sellers. Buyers can expect to face competition and may need to act quickly, while sellers can leverage the strong market conditions to potentially secure a favorable sale price.
Overall, these metrics paint a picture of a dynamic and competitive real estate market, where both buyers and sellers need to be informed and strategic in their decision-making.
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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