The real estate market is currently experiencing a healthy level of inventory, with the Months Supply of Inventory at 4.04. This means that it would take approximately 4.04 months to sell all the homes on the market at the current sales pace.
The 12-Month Change in Months of Inventory has increased by +51.88%, indicating a slight increase in inventory compared to the previous year. This could potentially provide more options for buyers and help balance out the market.
Homes are moving relatively quickly once they are listed, with a median of 33 days on the market. This suggests that there is strong demand for homes in this market, and sellers may have an advantage in negotiating offers.
The List to Sold Price Percentage is at 97.3%, indicating that homes are generally selling close to their listing price. This can be a positive sign for sellers, as it suggests that there is strong buyer interest and competition for available properties.
The Median Sold Price in this market is $295,100, giving buyers and sellers an idea of the current market value of homes in the area. This information can be useful for setting realistic expectations and making informed decisions in the buying or selling process.
Overall, these metrics paint a picture of a dynamic real estate market with a healthy level of inventory, strong buyer demand, and competitive pricing. Buyers and sellers should pay close attention to these numbers to navigate the market effectively and achieve their real estate goals.
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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