As a real estate professional, it is essential to understand the correlation between key metrics in the housing market to provide valuable insights to both buyers and sellers.
The Months Supply of Inventory is currently at 7.16, indicating the number of months it would take to sell all current listings at the current sales pace. This figure is crucial for buyers as it gives them an idea of the level of competition in the market.
The 12-Month Change in Months of Inventory has increased by +16.61%, suggesting that the market is becoming more balanced between buyers and sellers. This trend could potentially lead to more negotiation power for buyers and more realistic pricing for sellers.
The Median Days Homes are On the Market is 77, showing that properties are selling relatively quickly in this market. This information is valuable for both buyers and sellers in determining an appropriate timeline for their real estate transactions.
The List to Sold Price Percentage is at a high 96.5%, indicating that sellers are receiving close to their asking price. This data is essential for sellers in setting realistic pricing expectations for their properties.
Finally, the Median Sold Price is $370,000, providing buyers and sellers with a benchmark for property values in the market. This figure can help both parties in making informed decisions when buying or selling a property.
Overall, these metrics show a dynamic real estate market where properties are selling quickly and at close to asking prices. Buyers and sellers can use this information to navigate the market effectively and make sound real estate decisions.
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
