As a real estate professional, it is important to understand the correlation between various key metrics in the market to provide valuable insights to both buyers and sellers.
Looking at the data provided, we can see that the Months Supply of Inventory is currently at 2.83, indicating a low inventory level. This means that there are fewer homes available for sale, which can lead to increased competition among buyers and potentially higher prices for sellers.
The 12-Month Change in Months of Inventory is +64.53%, showing a significant increase in inventory levels over the past year. This could be due to more homes coming onto the market or a decrease in buyer demand. Sellers should take note of this trend as it may impact their pricing strategy.
The Median Days Homes are On the Market is 13, indicating that homes are selling quickly in this market. This could be attributed to the low inventory levels and high demand from buyers. Sellers can use this information to gauge how long their home may be on the market before receiving an offer.
The List to Sold Price Percentage is 98.3%, showing that homes are typically selling very close to their list price. This can be reassuring for both buyers and sellers as it suggests that the market is fairly balanced in terms of pricing.
Lastly, the Median Sold Price is $500,000, providing a benchmark for both buyers and sellers to reference when determining the value of a home in this market.
Overall, the data suggests a competitive real estate market with low inventory levels, quick sales, and homes selling close to their list price. Buyers should be prepared to act quickly and potentially pay close to asking price, while sellers may benefit from pricing their home competitively to attract buyers in this 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
