The real estate market currently shows a strong correlation between the Months Supply of Inventory, the 12-Month Change in Months of Inventory, the Median Days Homes are On the Market, the Sold to List Price Percentage, and the Median Sold Price.
With a Months Supply of Inventory at 3.73, it indicates that there is a healthy balance between the supply of homes on the market and the demand from buyers. This level suggests a balanced market where neither buyers nor sellers have a significant advantage.
The 12-Month Change in Months of Inventory at 0.5% shows a slight increase in inventory over the past year, indicating a slightly more favorable market for buyers. This increase is relatively small, which suggests that the market is still stable and not experiencing any significant shifts.
The Median Days Homes are On the Market at 25 days indicates that homes are selling relatively quickly, which can be attributed to the balanced market conditions and the steady demand from buyers.
The Sold to List Price Percentage at 0.94% shows that homes are typically selling very close to their list price, indicating a strong seller’s market where buyers are willing to pay close to the asking price for properties.
Lastly, the Median Sold Price at $309,900 reflects the current market value of homes in the area. This price point is influenced by the balanced market conditions, the steady demand from buyers, and the strong seller’s market.
Overall, these metrics paint a picture of a stable real estate market with balanced supply and demand, quick sales, and strong seller’s market conditions. Buyers and sellers can use this information to make informed decisions about buying or selling properties in the current market.
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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