As a real estate professional, it is important to understand the correlation between various metrics in the market to help both buyers and sellers make informed decisions.
The Months Supply of Inventory is a key indicator of market health, with a current level of 3.28 indicating a seller’s market where demand exceeds supply. However, the 12-Month Change in Months of Inventory shows a significant increase of +59.22%, suggesting a potential shift towards a more balanced market in the near future.
The Median Days Homes are On the Market at 36 days indicates a relatively fast-paced market where homes are selling quickly. This is further supported by the high Sold to List Price Percentage of 98.1%, showing that homes are typically selling close to their asking price.
The Median Sold Price of $315,000 provides insight into the overall value of properties in the market. This data point can help both buyers and sellers understand the current price trends and make informed decisions about their real estate transactions.
In summary, while the market currently favors sellers with low inventory levels and high demand, the increasing months of inventory and strong list price percentages suggest a potential shift in the market dynamics. Buyers and sellers should pay close attention to these metrics and work with a knowledgeable real estate professional to navigate the 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
