As a real estate professional, it is important to understand the correlation between various metrics in the market to provide valuable insights to both buyers and sellers.
The Months Supply of Inventory is a key indicator of market conditions, with a current level of 4.29 months. This indicates a balanced market where supply and demand are relatively in equilibrium.
The 12-Month Change in Months of Inventory at 0.34% suggests a stable market with minimal fluctuations in inventory levels over the past year. This can provide reassurance to both buyers and sellers that the market is relatively steady.
The Median Days Homes are On the Market at 37 days indicates that properties are selling relatively quickly in this market. This can be appealing to sellers looking to move their property in a timely manner.
The Sold to List Price Percentage at 0.98% suggests that properties are typically selling very close to their asking price. This can be a useful bargaining tool for sellers looking to maximize their returns.
Lastly, the Median Sold Price of $293,990 provides valuable information to both buyers and sellers on the current price trends in the market. This can help buyers make informed decisions on their budget and sellers set competitive prices for their properties.
Overall, these metrics paint a picture of a stable and balanced real estate market with properties selling quickly and close to their asking price. This information can be valuable for buyers and sellers looking to navigate the market effectively.
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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