As a real estate professional, it is important to understand the correlation between key metrics in the current market to help buyers and sellers make informed decisions.
The Months Supply of Inventory is currently at 4.26, indicating a balanced market where supply and demand are relatively equal. However, the 12-Month Change in Months of Inventory has increased by 17.68%, suggesting a slight shift towards a buyer’s market as inventory levels have risen.
Despite this increase in inventory, homes are still selling relatively quickly, with a median of 36 days on the market. This indicates that there is still strong demand for homes in the current market.
The List to Sold Price Percentage is at 97.7%, showing that homes are typically selling close to their listing price. This can be reassuring for sellers as it indicates that they are likely to receive a fair price for their property.
The Median Sold Price of $325,995 is also important for buyers and sellers to consider when making decisions. This can give an indication of the overall value of homes in the market and help guide pricing strategies.
Overall, these metrics paint a picture of a market that is still relatively strong, with homes selling quickly and close to their listing price. However, the increase in inventory levels should be monitored closely as it may impact pricing and competition in the future. Buyers and sellers should work closely with their real estate agent to navigate these market dynamics and make the most of their real estate transactions.
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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