The real estate market is currently experiencing a moderate level of inventory with a Months Supply of Inventory at 4.31. This means that if no new homes were added to the market, it would take approximately 4.31 months for all the current inventory to be sold.
The 12-Month Change in Months of Inventory has seen a significant increase of +18.41%, indicating a trend towards a higher level of inventory in the market. This could potentially provide more options for buyers and lead to a more balanced market overall.
Homes are spending a relatively short amount of time on the market, with a median of 33 days. This quick turnover time suggests that there is strong demand for homes in this market, which could be driving up competition among buyers.
Sellers are seeing a high List to Sold Price Percentage at 96.8%, indicating that homes are typically selling close to their listing price. This is a positive sign for sellers as it suggests that they are able to achieve their desired price for their properties.
The Median Sold Price is at $315,000, which provides buyers and sellers with a benchmark for the value of homes in the market. This information can help both parties make informed decisions when buying or selling a home.
Overall, these metrics paint a picture of a dynamic real estate market with a healthy level of inventory, strong demand, and favorable conditions for both buyers and sellers. Buyers may have more options to choose from, while sellers can expect to receive competitive offers for their properties.
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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