As a real estate professional, it is important to understand the correlation between various metrics in the market to help buyers and sellers make informed decisions.
The Months Supply of Inventory is a key indicator of the balance between supply and demand in the real estate market. A lower number indicates a seller’s market, while a higher number indicates a buyer’s market. With a Months Supply of Inventory at 3.25, we are currently in a balanced market, providing opportunities for both buyers and sellers.
The 12-Month Change in Months of Inventory increasing by +43.17% indicates a shift in market conditions towards a more buyer-friendly environment. This could mean more options for buyers to choose from and potentially lower prices.
The Median Days Homes are On the Market at 26 days suggests that properties are selling relatively quickly in this market. This is good news for sellers looking to move their properties quickly.
The List to Sold Price Percentage of 98% shows that homes are typically selling close to their list price in this market. This can be reassuring for sellers who want to maximize their return on investment.
Lastly, the Median Sold Price of $410,000 gives buyers and sellers a benchmark to understand the value of properties in the market. Understanding the median sold price can help both parties negotiate effectively and make informed decisions.
Overall, these metrics paint a picture of a balanced real estate market with opportunities for both buyers and sellers. It is important for all parties involved to closely monitor these metrics to make the best decisions in this dynamic market.
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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