As a real estate professional, it is important to analyze and understand the correlation between key metrics in the housing market to provide valuable insight to both buyers and sellers.
The Months Supply of Inventory is a crucial metric that indicates the balance between supply and demand in the market. With a figure of 3.26, this suggests that there is a moderate level of inventory available for buyers to choose from. However, the 12-Month Change in Months of Inventory has increased significantly by +50.23%, indicating a potential shift towards a buyer’s market in the near future.
The Median Days Homes are On the Market is a reflection of how quickly properties are selling. With a low average of 16 days, this suggests a high demand for homes in this market. Additionally, the List to Sold Price Percentage of 97.1% indicates that homes are generally selling close to their listing price, showing a strong seller’s market.
Furthermore, the Median Sold Price of $420,000 provides insight into the overall value of homes in this market. This figure can be used as a benchmark for both buyers and sellers to understand the pricing trends and make informed decisions.
In conclusion, these metrics collectively paint a picture of a market with moderate inventory levels, increasing competition among buyers, and strong seller leverage. Buyers should act quickly and be prepared to make competitive offers, while sellers can expect to receive offers close to their asking price. Keeping an eye on these metrics can help both parties navigate the real estate 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.
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
