The real estate market data indicates a dynamic and fast-paced environment for both buyers and sellers.
The Months Supply of Inventory is currently at 5.55, which is a fairly balanced market that offers a good selection of properties for buyers to choose from. However, the 12-Month Change in Months of Inventory has increased by 23.33%, suggesting a shift towards a slightly more buyer-friendly market.
The Median Days Homes are On the Market is just 18 days, indicating a high demand for homes in the area. This means that sellers can expect their properties to sell quickly, especially when considering the List to Sold Price Percentage of 97.1%. This metric shows that sellers are receiving offers close to their asking price, further highlighting the competitive nature of the market.
With a Median Sold Price of $1,875,000, it is clear that this real estate market caters to higher-end properties. Sellers can expect to fetch a good price for their homes, while buyers should be prepared to make competitive offers in order to secure their desired property.
Overall, the data suggests a market that is favorable for both buyers and sellers, with properties selling quickly and at prices close to their asking price. It is important for both parties to act quickly and decisively in order to take advantage of the 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.
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