The real estate market is currently experiencing a moderate level of inventory with a months supply of inventory at 3.33. This means that at the current rate of sales, it would take approximately 3.33 months to sell all the available homes on the market.
Over the past 12 months, there has been a notable increase in the months of inventory by 14.83%. This could indicate a slight shift towards a more balanced market, as there are more homes available for buyers to choose from.
Homes are selling relatively quickly, with a median of 26 days on the market. This indicates strong buyer demand and a competitive market for sellers.
Sellers are also seeing strong returns on their investments, with homes selling at 97.4% of the listing price. This suggests that homes are priced competitively and buyers are willing to pay close to the asking price.
The median sold price for homes in this market is $470,000, indicating that it is a desirable area with higher-end properties. This could be attractive to sellers looking to maximize their profits.
Overall, these metrics suggest a healthy and active real estate market, with opportunities for both buyers and sellers. Buyers may need to act quickly to secure a home, while sellers can expect a strong return on their investment.
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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