The real estate market is currently experiencing a very high demand with a limited supply of inventory, as indicated by the low Months Supply of Inventory at 1.46. This means that there are fewer homes available for sale compared to the number of buyers in the market.
The 12-Month Change in Months of Inventory is also significant, showing a decrease of 76.03%. This indicates that the market has become even more competitive over the past year, with inventory levels shrinking at a rapid pace.
Median Days Homes are On the Market is only 1 day, which further reflects the high demand and quick turnaround time for homes to be sold. Sellers are able to sell their properties quickly, often receiving multiple offers in a short period of time.
The List to Sold Price Percentage is at a healthy 97.9%, indicating that sellers are able to sell their homes for a price very close to their listing price. This shows that buyers are willing to pay top dollar for homes in this market.
Lastly, the Median Sold Price of $426,340 is quite high, reflecting the strong demand and competition among buyers. Sellers are able to fetch a good price for their homes in this market.
Overall, these metrics paint a picture of a hot real estate market with high demand, low inventory, quick sales, and strong prices. Buyers should be prepared to act fast and make competitive offers, while sellers can expect to receive good offers for their properties.
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
