The real estate market data provided paints a picture of a dynamic and potentially shifting market.
The Months Supply of Inventory at 2.86 indicates that there is a balanced market with a slight lean towards the seller’s side. This means that there is a healthy level of inventory to meet buyer demand.
The 12-Month Change in Months of Inventory increasing by +46.67% suggests a potential shift towards a more buyer-friendly market. This increase in inventory could lead to more options for buyers and potentially lower prices.
The Median Days Homes are On the Market at 19 indicates a relatively fast-moving market where homes are being sold quickly. This could be due to high demand from buyers or well-priced listings.
The List to Sold Price Percentage at 98% suggests that sellers are pricing their homes accurately and buyers are willing to pay close to the asking price. This indicates a strong market with competitive pricing.
The Median Sold Price of $345,770 gives buyers and sellers a benchmark for the average price of homes in the area. This can help both parties make informed decisions when buying or selling a property.
Overall, the data indicates a market that is moving quickly with a healthy level of inventory. Buyers and sellers should stay informed about market trends and work with a knowledgeable real estate agent to navigate the market effectively.
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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