Hi Friends, the real estate market is currently experiencing a low supply of inventory, with only 2.44 months’ worth available. This means that there is a high demand for homes in this market, which can lead to increased competition among buyers.
Additionally, the 12-month change in months of inventory has decreased by 2.4%, indicating that the market has become even more competitive over the past year. Sellers may find themselves in a favorable position due to the limited inventory available.
Homes in this market are selling relatively quickly, with a median of 51 days on the market. This is a good indicator of the overall health of the market, as homes are not sitting on the market for extended periods of time.
The list to sold price percentage is also high at 96.4%, indicating that sellers are able to negotiate prices close to their asking price. This can be attributed to the high demand and low supply of inventory in the market.
The median sold price in this market is $447,500, which is a significant figure. Buyers should be prepared for competitive pricing and potentially multiple offer situations in order to secure a property in this market.
Overall, the data suggests that this real estate market is currently favoring sellers due to the low inventory levels and high demand. Buyers should be prepared to act quickly and make strong offers in order to secure a property in this competitive market.
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
