As we analyze the current real estate market metrics, we can see a correlation between the Months Supply of Inventory, the 12-Month Change in Months of Inventory, the Median Days Homes are On the Market, the List to Sold Price Percentage, and the Median Sold Price.
The Months Supply of Inventory is currently at 3.19, indicating that it would take approximately 3.19 months to sell all the current inventory of homes on the market if no new listings were added. This is considered a balanced market, with neither buyers nor sellers having a significant advantage.
The 12-Month Change in Months of Inventory has increased by +51.18%, suggesting a trend towards a higher inventory of homes on the market compared to the previous year. This increase could potentially lead to more options for buyers and increased competition for sellers.
The Median Days Homes are On the Market is 21, indicating that homes are selling relatively quickly in this market. This could be attributed to the low inventory levels and high demand for homes.
The List to Sold Price Percentage is at 99%, showing that homes are typically selling very close to their list price. This could indicate a competitive market where sellers are pricing their homes accurately and buyers are willing to pay close to asking price.
Lastly, the Median Sold Price is $396,500, providing insight into the average price at which homes are selling in this market. This information can be useful for both buyers and sellers to understand the current pricing trends.
Overall, these metrics suggest a balanced market with moderate inventory levels, quick sales, and homes selling close to their list price. Buyers and sellers should be aware of these factors when making decisions in the current 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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