As we analyze the real estate market metrics provided, we can see a correlation between the Months Supply of Inventory, the 12-Month Change in Months of Inventory, the Median Days Homes are On the Market, the List to Sold Price Percentage, and the Median Sold Price.
The Months Supply of Inventory being at 3.17 indicates a balanced market, where the number of homes for sale is equal to the number of buyers in the market. This means that there is a healthy level of inventory available for potential buyers to choose from.
The 12-Month Change in Months of Inventory increasing by +30.45% suggests that there has been an increase in the number of homes available for sale over the past year. This could be due to a variety of factors such as more sellers entering the market or a decrease in buyer demand.
The Median Days Homes are On the Market being at 14 reflects a fast-paced market where homes are selling quickly. This could be attributed to high demand from buyers, attractive pricing, or desirable locations.
The List to Sold Price Percentage of 96% indicates that homes are typically selling very close to their list price. This suggests that sellers are pricing their homes competitively and buyers are willing to pay close to the asking price.
Lastly, the Median Sold Price of $274,990 gives us an idea of the average price at which homes are selling in the market. This information can be valuable for both buyers and sellers in understanding pricing trends and setting realistic expectations.
Overall, these metrics paint a picture of a balanced market with a healthy level of inventory, homes selling quickly, and prices staying relatively close to the list price. Buyers and sellers can use this information to make informed decisions when buying or selling a home in the current market conditions.
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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