The real estate market is currently showing a healthy balance between supply and demand, with a months supply of inventory at 3.13. This indicates that there is enough inventory to meet buyer demand, but not so much that it creates an oversupply situation.
The 12-month change in months of inventory has increased by +34.91%, suggesting that there has been a slight increase in inventory levels over the past year. This could be due to more homes coming onto the market or a decrease in buyer demand.
Homes are selling relatively quickly, with a median of 29 days on the market. This indicates that there is strong interest from buyers and that properties are moving efficiently through the market.
Sellers are seeing strong offers on their homes, with a sold to list price percentage of 96.7%. This means that homes are selling very close to their list price, showing that sellers are receiving competitive offers.
The median sold price for homes in this market is $335,000, indicating that there is strong demand for properties in this price range. Overall, these metrics suggest that the real estate market is balanced and performing well for both buyers and sellers.
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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