As real estate professionals, it is important to understand the correlation between various metrics in order to provide valuable insights to both buyers and sellers. Let’s take a closer look at the data provided:
The Months Supply of Inventory currently stands at 5.03, indicating a balanced market where supply and demand are relatively in equilibrium. However, the 12-Month Change in Months of Inventory has increased by 13.54%, suggesting a trend towards a more buyer-friendly market with potentially increasing inventory levels.
The Median Days Homes are On the Market is 52, which is a moderate timeframe that indicates homes are selling at a steady pace. This can be reassuring for sellers who are looking to move their property in a reasonable amount of time.
The Sold to List Price Percentage is at 91.9%, indicating that homes are typically selling for just under their list price. This can be useful information for both buyers and sellers in terms of negotiating strategies and setting realistic expectations.
Lastly, the Median Sold Price is $1,827,500, providing a snapshot of the current market value in the area. This figure can be helpful for both buyers and sellers in determining pricing strategies and making informed decisions.
Overall, these metrics suggest a market that is relatively stable with some potential shifts towards a more favorable environment for buyers. It is important for both buyers and sellers to stay informed 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.
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