The real estate market is currently experiencing a healthy balance between supply and demand, as indicated by the Months Supply of Inventory standing at 5.09. This metric reflects the number of months it would take to sell all currently listed homes at the current sales pace. A lower number typically indicates a seller’s market, while a higher number indicates a buyer’s market.
The 12-Month Change in Months of Inventory shows a decrease of 7.12%, suggesting that the market is becoming more competitive for buyers. This decrease in inventory over the past year may lead to increased competition among buyers, potentially driving up prices.
The Median Days Homes are On the Market is 33, indicating that homes are selling relatively quickly in this market. This could be attributed to the high demand and low inventory levels, leading to a faster turnover of available properties.
The List to Sold Price Percentage is 94.8%, showing that homes are typically selling for close to their list price. This could signal a strong seller’s market, where buyers may need to be prepared to offer competitive prices to secure a property.
Finally, the Median Sold Price of $287,995 suggests that homes in this market are selling at a moderate price point. This could be appealing to both buyers and sellers, as it indicates a balance between affordability and potential return on investment.
Overall, these metrics paint a picture of a competitive real estate market with limited inventory, fast sales, and strong seller leverage. Buyers should be prepared to act quickly and make strong offers, while sellers may find themselves in a favorable position to capitalize on current market conditions.
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.
Download our FREEBIES here!
The Ultimate Home Buyer’s Guide
The Ultimate Home Seller’s Guide
Find us on YouTube!
#jenniferyoingcorealtor #jenniferyoingco #JenniferYoingcoTexas #houstonsuburb #houstonsuburbs #houstonsuburbgroup #texasrelocationexperts #HoustonRelocationExpert #HoustonRelocationSpecialist #NurseRelocationExpert #NurseRelocationSpecialist #newhomeconstruction #thehighlands #ravennahomes #ravennahomesforsale #ravennahomesrealtor #ravennahomesrealestateagent #springtexas #tomballtexas #livinginhoustontexas #livinginhouston #thewoodlandstexas #conroetexas #montgomerytexas #cypresstexas #newcaneytexas #portertexas #katytexas #pearlandtexas #richmondtexas #fulsheartexas #sugarlandtexas #houstontexas #magnoliatexas #hockleytexas #pinehursttexas #jerseyvillagetexas #humbletexas
