When analyzing the current real estate market, several key metrics provide valuable insights for both buyers and sellers. The Months Supply of Inventory stands at 3.95, indicating a balanced market where supply and demand are relatively equal. However, the 12-Month Change in Months of Inventory has increased by 33%, suggesting a slight shift towards a more buyer-friendly market.
Despite this shift, homes are still selling relatively quickly, with a median of 43 days on the market. This may be attributed to the high Sold to List Price Percentage of 96.1%, indicating that sellers are receiving offers close to their asking price.
The Median Sold Price of $316,000 reflects the current market value of homes in the area, providing valuable information for both buyers and sellers when negotiating prices.
Overall, these metrics showcase a dynamic real estate market that offers opportunities for both buyers and sellers. Buyers may find more inventory to choose from, while sellers can still expect to receive competitive offers close to their asking price. It is important for both parties to stay informed and work with a knowledgeable real estate professional to navigate this market successfully.
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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