Let’s take a closer look at the current real estate market metrics to provide you with valuable insights for your decision-making process.
The Months Supply of Inventory currently stands at 3.67, indicating a balanced market where supply and demand are relatively stable. However, it’s important to note that there has been a significant increase in the 12-Month Change in Months of Inventory, with a rise of +63.11%. This suggests a shift towards a more buyer-friendly market with more inventory available.
The Median Days Homes are On the Market is a low 20 days, showing that properties are selling relatively quickly. This is further supported by the Sold to List Price Percentage of 97.1%, indicating that homes are typically selling close to their listing price.
In terms of pricing, the Median Sold Price currently sits at $320,000. This figure provides a benchmark for both buyers and sellers to understand the average price point in the market.
Overall, these metrics paint a picture of a dynamic real estate market with opportunities for both buyers and sellers. Buyers may find more options and potentially negotiate better deals, while sellers can benefit from the strong demand and quick sales.
We encourage you to stay informed and consult with a real estate professional to navigate the market effectively and make informed decisions.
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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