As we analyze the real estate metrics provided, we can see a correlation between these key indicators that can help both buyers and sellers make informed decisions in the current market.
First, the Months Supply of Inventory stands at 3.76, indicating a balanced market where supply and demand are relatively stable. However, the 12-Month Change in Months of Inventory has increased by 24.09%, suggesting a slight shift towards a more buyer-friendly market with an increase in available inventory.
The Median Days Homes are On the Market is 22, which is relatively low and indicates a fast-paced market where properties are selling quickly. This is further supported by the List to Sold Price Percentage of 97.6%, showing that homes are typically selling close to their listing price.
Finally, the Median Sold Price of $291,485 gives buyers and sellers a benchmark for pricing their properties or making offers. This data suggests that the market is strong, with prices holding steady and a healthy level of demand.
Overall, these metrics paint a picture of a dynamic real estate market where properties are selling quickly and close to their listing prices. Buyers may find opportunities in the increased inventory, while sellers can take advantage of the strong demand and favorable pricing conditions. It is important for both buyers and sellers to stay informed and work with a knowledgeable real estate professional to navigate the current market conditions 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.
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
