In analyzing the real estate 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 indicates a balanced market where the supply of homes is meeting the demand from buyers. However, the 12-Month Change in Months of Inventory increasing by +50.75% suggests a potential shift towards a more buyer-friendly market, with inventory levels rising compared to the previous year.
The Median Days Homes are On the Market being at 17 reflects a fast-paced market where homes are selling quickly. This could be attributed to the List to Sold Price Percentage being at 100.3%, indicating that homes are typically selling for slightly above their listing price.
Additionally, the Median Sold Price of $1,635,000 signifies a relatively high-priced market. This could potentially be influencing the fast pace of sales, as buyers are willing to pay premium prices for homes in this market.
In summary, the combination of these metrics suggests a dynamic real estate market with a balanced supply of inventory, increasing inventory levels, fast-selling homes, high list to sold price percentage, and a higher median sold price. Buyers and sellers should take note of these trends when considering their real estate transactions 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.
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