The real estate market is currently experiencing a low inventory level with only 2.37 months supply available. This indicates a high demand for homes in the market. Additionally, there has been a significant decrease of 9.89% in the months of inventory over the past year, suggesting that homes are selling at a faster pace.
The median days that homes are on the market is 29, which further confirms the trend of homes selling quickly. This can be attributed to the high demand and low inventory levels in the market.
The list to sold price percentage is at 97.2%, indicating that homes are typically selling very close to their list price. This shows that sellers are pricing their homes competitively and buyers are willing to pay close to the asking price.
The median sold price for homes in this market is $260,000. This reflects the current market conditions of high demand and low inventory, leading to higher home prices.
Overall, the data suggests a strong seller’s market with homes selling quickly and close to their asking price. Buyers should be prepared to act fast and make competitive offers, while sellers can expect to receive strong offers for their homes.
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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