The real estate market is currently showing a healthy balance between supply and demand, with a Months Supply of Inventory at 3.34. This indicates that there are enough homes available to meet current buyer demand, but not an oversupply that could lead to a decrease in prices.
The 12-Month Change in Months of Inventory is a slight increase of 0.28%, suggesting a gradual shift towards a more balanced market. This could be due to factors such as an increase in new listings or a slight decrease in buyer interest.
The median days homes are on the market is 58, which is a moderate amount of time for a home to sell. This indicates a relatively active market with buyers willing to make decisions within a reasonable timeframe.
The Sold to List Price Percentage is at 0.97%, indicating that homes are selling very close to their listing prices. This suggests that sellers are pricing their homes accurately and that buyers are willing to pay close to the asking price.
The median sold price of $272,132 reflects the current market value of homes in the area. This price point is attractive to both buyers and sellers, offering a good balance between affordability and return on investment.
Overall, these metrics paint a picture of a stable and balanced real estate market that is favorable for both buyers and sellers. With a healthy inventory, competitive pricing, and a reasonable time on the market, now could be a good time to consider buying or selling a home in this area.
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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