Hi Friends, the real estate market currently has a healthy supply of inventory with a Months Supply of Inventory at 3.06. This means that based on the current rate of sales, it would take approximately 3.06 months to sell all the available homes on the market.
The 12-Month Change in Months of Inventory is showing a decrease of -0.65%, indicating that the market is becoming more competitive as inventory levels are decreasing slightly compared to the previous year. This could potentially lead to a faster pace of sales and increased competition among buyers.
The Median Days Homes are On the Market is 49, which is a relatively quick turnaround time for homes to be sold. This suggests that properties are moving quickly in the current market environment.
The List to Sold Price Percentage is at 95.3%, indicating that on average, homes are selling for 95.3% of their listing price. This shows that sellers are generally getting close to their asking price, which is a positive indicator for those looking to sell their property.
Lastly, the Median Sold Price is $278,000, providing insight into the average price at which homes are being sold in the market. This information can be useful for both buyers and sellers in determining fair market value and making informed decisions.
Overall, these metrics paint a picture of a dynamic and competitive real estate market, with a healthy supply of inventory, quick turnaround times for home sales, and strong list to sold price percentages. Buyers and sellers alike can use this data to navigate the market effectively and make informed decisions.
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
