The real estate market is currently showing a healthy level of inventory with a Months Supply of Inventory at 3.58. This means that at the current rate of sales, it would take approximately 3.58 months to sell all the available homes on the market.
However, there has been a significant increase in the 12-Month Change in Months of Inventory, with a +72.95% rise. This could indicate a shift towards a more balanced market, with more homes becoming available for buyers to choose from.
Despite the increase in inventory, homes are still selling relatively quickly with a Median Days on Market of 29. This suggests that there is strong demand for homes in the area.
Sellers are also seeing good returns on their investment, with a Sold to List Price Percentage of 98%. This indicates that most homes are selling close to their asking price.
The Median Sold Price of $306,000 is also a positive sign for both buyers and sellers. Buyers can find affordable options in the market, while sellers can expect to receive a fair price for their properties.
Overall, these metrics point to a balanced and active real estate market, making it a good time for both buyers and sellers to consider making a move.
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
