As a real estate professional, it is important to analyze various metrics to understand the current market conditions.
First, let’s look at the Months Supply of Inventory, which is currently at 5.45. This indicates that it would take approximately 5.45 months to sell all the current inventory on the market, assuming no new listings are added.
The 12-Month Change in Months of Inventory shows an increase of +41.93%, which means that the inventory levels have increased over the past year. This could be due to an influx of new listings or a decrease in buyer demand.
Despite the increase in inventory levels, the Median Days Homes are On the Market is only 7 days. This indicates that homes are selling quickly once they are listed, which could be attributed to high demand in the market.
The List to Sold Price Percentage is 97.6%, meaning that homes are selling very close to their listing price. This shows that sellers are pricing their homes competitively and buyers are willing to pay close to the asking price.
Finally, the Median Sold Price is $2,650,000, which gives an indication of the overall price point in the market. This could be a helpful data point for both buyers and sellers to understand the average price of homes in the area.
Overall, the correlation between these metrics suggests a balanced market with moderate inventory levels, quick sales, and strong pricing. Buyers and sellers alike can use this information to make informed decisions in the real estate 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
