Hi Friends, the real estate market is currently showing a moderate balance between supply and demand, with a Months Supply of Inventory at 6.11. This means that it would take approximately 6.11 months to sell all the homes currently on the market at the current sales pace.
The 12-Month Change in Months of Inventory has increased by 39.5%, indicating a slight increase in inventory levels compared to the previous year. This could suggest a potential shift towards a buyer’s market, as more homes are available for sale.
The Median Days Homes are On the Market is 102, which means that homes are selling at a relatively steady pace. This metric can give sellers an idea of how long their property may be on the market before finding a buyer.
The List to Sold Price Percentage is at 98.2%, showing that homes are typically selling very close to their list price. This can be reassuring for sellers, as it indicates that the market is stable and buyers are willing to pay close to the asking price.
The Median Sold Price in the area is $582,500, providing buyers and sellers with a benchmark for pricing their homes or making offers on properties. This can give insight into the overall market value and trends in the area.
Overall, these metrics indicate a relatively balanced real estate market with steady sales and pricing trends. Buyers and sellers can use this information to make informed decisions when buying or selling a home in the current market conditions.
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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