The real estate market is currently showing a steady balance between supply and demand, with a Months Supply of Inventory at 4.68. This indicates that there are enough homes available to meet buyer demand, but not an excessive amount that would lead to decreased prices.
The 12-Month Change in Months of Inventory has increased by +63.64%, suggesting that there may be a slight shift towards a buyer’s market. However, the current level of inventory is still relatively low, indicating a healthy market overall.
Homes are selling relatively quickly, with a Median Days on the Market of 34. This is a positive sign for sellers, as it indicates strong buyer interest and competition for available properties.
The Sold to List Price Percentage is at 97.5%, showing that sellers are receiving offers close to their asking price. This indicates a strong seller’s market, where buyers are willing to pay close to the listed price for properties.
The Median Sold Price in this market is $346,000, which is a healthy and stable price point. This suggests that the market is stable and not experiencing any significant fluctuations in pricing.
Overall, these metrics paint a picture of a balanced and stable real estate market, with opportunities for both buyers and sellers. Buyers can expect to find a good selection of homes at competitive prices, while sellers can benefit from strong demand and quick sales at close to their asking price.
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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