As a professional in the real estate market, it is important to analyze and understand the correlation between various key metrics to provide valuable insights to both buyers and sellers. Let’s take a closer look at the data:
First, the Months Supply of Inventory is 4.11, indicating a balanced market where supply and demand are relatively in equilibrium. However, the 12-Month Change in Months of Inventory has increased by +17.09%, suggesting a slight increase in inventory levels compared to the previous year.
The Median Days Homes are On the Market is 35, which is a relatively short period of time. This indicates that homes are selling quickly in the current market conditions. The List to Sold Price Percentage is 96%, showing that homes are typically selling close to their list price.
Lastly, the Median Sold Price is $291,250, reflecting the average price at which homes are selling in the market. This data point is crucial for both buyers and sellers to understand the current pricing trends in the area.
Overall, the correlation between these metrics suggests that there is a healthy level of demand in the market, with homes selling relatively quickly and close to their list price. However, the increase in inventory levels compared to the previous year may indicate a shift towards a more balanced market in the near future. Buyers and sellers can use this information to make informed decisions in 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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