As a potential buyer or seller in the current real estate market, it is important to understand the correlation between key metrics to make informed decisions.
The Months Supply of Inventory at 5.08 indicates a balanced market, with a relatively healthy supply of homes available for sale. However, the 12-Month Change in Months of Inventory increasing by +30.59% suggests a slight shift towards a buyer’s market, as inventory levels are rising compared to the previous year.
The Median Days Homes are On the Market at 43 days indicates that homes are selling relatively quickly. This can be attributed to the List to Sold Price Percentage of 96.6%, which signifies that homes are generally selling close to their list price.
The Median Sold Price of $405,000 reflects the current market value of homes in the area. This price point, along with the other metrics, can help both buyers and sellers gauge the competitiveness of the market and make informed decisions.
Overall, these metrics suggest a dynamic real estate market with opportunities for both buyers and sellers. It is essential to stay informed and work with a knowledgeable real estate professional to navigate the market effectively.
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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