As a real estate professional, it is important to analyze various metrics to understand the current market conditions. In this scenario, we can see that the Months Supply of Inventory is at 3.9, indicating that there is a relatively low supply of homes on the market compared to the demand from buyers. This low supply can lead to increased competition among buyers and potentially drive up prices.
The 12-Month Change in Months of Inventory is at +34.48%, showing a significant increase in the number of homes available for sale compared to the previous year. This could suggest a shift towards a more balanced market where there is less competition among buyers.
The Median Days Homes are On the Market is 41, which is relatively low and indicates that homes are selling quickly. This could be attributed to the low inventory levels and high demand in the market.
The List to Sold Price Percentage is at 97.5%, suggesting that homes are selling very close to their listing price. This could be a result of the competitive market conditions where sellers are able to command strong offers from buyers.
Finally, the Median Sold Price is $320,000, indicating the typical price at which homes are selling in the market. This price point, combined with the low inventory levels and quick selling times, highlights the strong demand for homes in this market.
Overall, these metrics point to a market that is competitive for buyers due to low inventory levels and quick selling times. Sellers may benefit from the strong demand and the ability to sell their homes close to the listing price. It is important for both buyers and sellers to stay informed about these market conditions to make informed decisions in their real estate transactions.
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
