As we analyze the current real estate market data, we can see a correlation between various key metrics that can provide valuable insights for both buyers and sellers.
The Months Supply of Inventory is currently at 3.46, indicating a balanced market where supply and demand are relatively equal. However, the 12-Month Change in Months of Inventory has seen a significant increase of +130.67%, suggesting a trend towards more inventory becoming available in the market over the past year.
Despite the increase in inventory, the Median Days Homes are On the Market is relatively low at 19 days, indicating that homes are selling quickly. This is further supported by the Sold to List Price Percentage of 98.3%, showing that homes are typically selling close to their list price.
Additionally, the Median Sold Price in the market is $363,000, providing a benchmark for both buyers and sellers to understand the current pricing trends in the area.
Overall, these metrics suggest a dynamic real estate market with a healthy balance between supply and demand, quick turnaround times for home sales, and strong pricing trends. Buyers can expect competitive pricing and quick sales, while sellers can take advantage of the current market conditions to potentially achieve a favorable selling price for their homes.
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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