The real estate market is currently showing a relatively balanced supply and demand with a Months Supply of Inventory standing at 4.36. This means that at the current rate of sales, it would take approximately 4.36 months to sell all the homes on the market.
Over the past 12 months, there has been a slight increase of 0.7% in the Months of Inventory, indicating a slightly slower pace of sales compared to the previous year. This could be attributed to various factors such as seasonal fluctuations, changes in buyer preferences, or economic conditions.
The Median Days Homes are On the Market is 29, which indicates that properties are selling relatively quickly. This could be a good sign for sellers as it suggests a strong demand for homes in the market.
The Sold to List Price Percentage is 0.97%, indicating that homes are selling very close to their list price. This could be a positive indicator for sellers as it suggests that they are able to negotiate a good selling price for their properties.
Lastly, the Median Sold Price is $405,000, which gives us an idea of the average price at which homes are selling in the market. This information can be helpful for both buyers and sellers in understanding the current pricing trends in the market.
Overall, these metrics paint a picture of a relatively stable real estate market with a balanced supply and demand, quick sales, and homes selling close to their list price. Buyers and sellers should keep an eye on these metrics to make informed decisions in the current market conditions.
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.
Download our FREEBIES here!
The Ultimate Home Buyer’s Guide
The Ultimate Home Seller’s Guide
Find us on YouTube!
#jenniferyoingcorealtor #jenniferyoingco #JenniferYoingcoTexas #houstonsuburb #houstonsuburbs #houstonsuburbgroup #texasrelocationexperts #HoustonRelocationExpert #HoustonRelocationSpecialist #NurseRelocationExpert #NurseRelocationSpecialist #newhomeconstruction #thehighlands #ravennahomes #ravennahomesforsale #ravennahomesrealtor #ravennahomesrealestateagent #springtexas #tomballtexas #livinginhoustontexas #livinginhouston #thewoodlandstexas #conroetexas #montgomerytexas #cypresstexas #newcaneytexas #portertexas #katytexas #pearlandtexas #richmondtexas #fulsheartexas #sugarlandtexas #houstontexas #magnoliatexas #hockleytexas #pinehursttexas #jerseyvillagetexas #humbletexas
