The current real estate market is showing a healthy balance between supply and demand, with a months supply of inventory at 5.5, indicating a slightly seller’s market. However, there has been a significant increase in the 12-month change in months of inventory by +77.99%, which could potentially indicate a shift towards a buyer’s market in the near future.
Despite this increase in inventory, homes are still selling relatively quickly, with a median of 57 days on the market. This suggests that there is still strong buyer interest in the market.
Additionally, sellers are seeing strong returns on their investments, with a list to sold price percentage of 100.2%. This means that, on average, homes are selling for slightly above the asking price.
The median sold price in this market is $470,000, indicating a stable and consistent pricing trend. Buyers can expect to find homes within this price range, while sellers can expect to receive a fair market value for their properties.
Overall, the current real estate market is dynamic and offers opportunities for both buyers and sellers. With a balanced inventory, quick sales, strong returns, and stable pricing, now is a great time to be involved in the real estate 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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