As a professional in the real estate market, it is important to analyze the correlation between key metrics to provide valuable insights for both buyers and sellers.
First, let’s look at the Months Supply of Inventory, which currently stands at 2.78. This metric indicates the number of months it would take to sell all the current inventory of homes on the market. A lower number typically signifies a seller’s market, where demand outweighs supply.
The 12-Month Change in Months of Inventory has increased significantly by +45.55%, indicating a shift towards a more balanced market as inventory levels have risen. This could be due to an increase in the number of homes for sale or a decrease in buyer demand.
The Median Days Homes are On the Market is 23, which is relatively low and suggests that homes are selling quickly in this market. This could be attributed to competitive pricing, desirable locations, or a high demand from buyers.
The List to Sold Price Percentage is 98.5%, indicating that homes are generally selling close to their list price. This could be a result of accurately priced homes or strong negotiation skills from both buyers and sellers.
Lastly, the Median Sold Price is $385,000, reflecting the average price at which homes are selling in this market. This information can be valuable for both buyers and sellers to understand market trends and make informed decisions.
Overall, these metrics suggest a dynamic real estate market with a balanced inventory, quick sales, and strong pricing. Buyers may need to act fast in this competitive market, while sellers can benefit from accurately pricing their homes to attract motivated buyers.
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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