The real estate market is currently experiencing a healthy balance between supply and demand, with the Months Supply of Inventory at 3.83. This metric measures how long it would take for all the current homes on the market to sell at the current pace of sales.
The 12-Month Change in Months of Inventory is showing a significant increase of +28.96%, indicating that the market may be shifting towards a more balanced state, potentially favoring buyers. This increase in inventory could lead to more options for buyers to choose from and potentially lower prices.
The Median Days Homes are On the Market is 48, indicating that homes are selling relatively quickly in this market. This could be attributed to the high demand and low inventory levels, leading to a competitive market for sellers.
The List to Sold Price Percentage is at 96.9%, showing that sellers are typically receiving close to their asking price. This metric indicates strong negotiating power for sellers in this market.
Lastly, the Median Sold Price is $317,000, reflecting the current market value of homes in this area. Buyers can use this information to make informed decisions on pricing and sellers can leverage this data to set competitive listing prices.
Overall, the data suggests a dynamic real estate market with opportunities for both buyers and sellers. Buyers may have more options to choose from with the increase in inventory, while sellers can take advantage of the strong list to sold price percentage. It is important for both parties to stay informed and work with a knowledgeable real estate professional to navigate this 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
