The real estate market is currently experiencing a moderate level of inventory with a Months Supply of Inventory at 4.71. This indicates that it would take approximately 4.71 months to sell all the current listings on the market if no new listings were added.
There has been a significant increase in inventory over the past year, with the 12-Month Change in Months of Inventory at +33.43%. This suggests that there are more homes available for buyers to choose from compared to the previous year.
Homes are spending an average of 53 days on the market before being sold, which indicates a healthy level of buyer interest and activity. This is a good sign for sellers looking to move their properties quickly.
The List to Sold Price Percentage is currently at 96.5%, which means that homes are typically selling for 96.5% of their asking price. This shows that sellers are receiving offers close to their listing price, indicating a balanced market between buyers and sellers.
The Median Sold Price for homes in this market is $500,000, providing buyers and sellers with a benchmark for pricing their properties. This figure can help both parties understand the current market value of homes in the area.
Overall, the data suggests a balanced real estate market with moderate inventory levels, a healthy level of buyer interest, and a competitive pricing environment. Buyers and sellers can use this information to make informed decisions when buying or selling a home in this 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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