The real estate market is currently showing a months supply of inventory of 3.53, indicating a balanced market where supply and demand are fairly even. However, there has been a significant increase of 81.96% in the past 12 months in the number of months of inventory available, which may suggest a shift towards a more buyer-friendly market in the near future.
Despite the increase in inventory, homes are still selling quickly with a median of only 8 days on the market. This suggests that there is still strong demand for homes in this area.
The list to sold price percentage is at a healthy 97.8%, indicating that sellers are able to secure close to their asking price when selling their homes. This is good news for sellers looking to maximize their return on investment.
The median sold price in this market is $405,000, which shows that homes are selling at a relatively high price point. Buyers should be prepared for competitive pricing and potential bidding wars in this market.
Overall, the data suggests a dynamic real estate market with opportunities for both buyers and sellers. Buyers should act quickly to secure a home in this competitive market, while sellers can expect to receive a strong price for their property.
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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