As a real estate professional, it is important to understand the correlation between various metrics in the housing market to provide valuable insights to both buyers and sellers. Let’s delve into the data provided to paint a clearer picture of the current real estate landscape.
Firstly, the Months Supply of Inventory is a key indicator of market conditions, with a figure of 2.69 indicating a seller’s market where demand exceeds supply. This low level of inventory can drive up prices and lead to quicker sales.
The 12-Month Change in Months of Inventory has seen a significant increase of +64.02%, suggesting a shift towards a more balanced market. This increase in inventory could potentially lead to more options for buyers and less competition among sellers.
The Median Days Homes are On the Market is 37, indicating that properties are selling relatively quickly. This could be attributed to the low inventory levels and high demand in the market.
The Sold to List Price Percentage of 96.2% suggests that on average, homes are selling very close to their listing price. This can be an important factor for sellers to consider when pricing their properties.
Lastly, the Median Sold Price of $466,000 gives us an idea of the current market value of homes in the area. This figure can be used by both buyers and sellers as a benchmark to gauge the value of properties in the market.
In conclusion, the data provided paints a picture of a market with low inventory levels, quick sales, and properties selling close to their listing price. Understanding these metrics can help both buyers and sellers make informed decisions in today’s real estate 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.
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
