As we analyze the current real estate market data, we can see a correlation between the various metrics that provide valuable insights for both buyers and sellers.
The Months Supply of Inventory is a key indicator of market conditions, showing that there is a balance between supply and demand with a relatively low inventory level of 3.28 months. This means that there are enough homes on the market to satisfy the current level of buyer demand.
The 12-Month Change in Months of Inventory, which has increased by +28.13%, indicates a slight shift towards a more balanced market compared to the previous year. This could suggest that there are more homes available for sale, providing buyers with more options.
The Median Days Homes are On the Market is a quick 26 days, indicating that homes are selling relatively fast. This is a positive sign for sellers as it shows strong demand in the market.
The List to Sold Price Percentage of 97.6% suggests that homes are typically selling very close to their list price. This is good news for sellers as it indicates that they are likely to receive a price close to what they are asking for their home.
Lastly, the Median Sold Price of $342,001 provides a benchmark for both buyers and sellers to understand the current market value of homes in the area. This can help buyers make informed decisions on pricing and help sellers understand what they can expect to sell their home for.
Overall, these metrics paint a picture of a healthy real estate market with balanced supply and demand, quick sales, and strong pricing. Buyers and sellers alike can use this information to make informed decisions in the current market environment.
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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