As we analyze the current real estate market data, we can see a correlation between the various metrics that provide valuable insights for both buyers and sellers.
The Months Supply of Inventory is currently at 2.98, indicating a relatively low inventory of homes for sale. This means that there is high demand from buyers, which can lead to a competitive market where homes may sell quickly.
The 12-Month Change in Months of Inventory shows a significant increase of +64.64%. This suggests that the market may be shifting towards a more balanced supply and demand scenario, giving buyers more options to choose from.
The Median Days Homes are On the Market is 36, indicating that homes are selling relatively quickly. This is further supported by the Sold to List Price Percentage of 97.1%, showing that homes are selling close to their listing price.
With a Median Sold Price of $474,000, sellers can expect to receive a good return on their investment in the current market conditions.
Overall, the combination of low inventory, quick sales, and high list price percentages indicate a strong seller’s market. However, the increase in months of inventory suggests a possible shift towards a more balanced market in the near future. Buyers can expect more options and potentially less competition, while sellers can still benefit from the current high demand and favorable selling prices.
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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