As a REALTOR® in Pearland, Texas, I’m excited to share that the market is still thriving in May 2023. With only 1.41 months supply of inventory, buyers and sellers are experiencing a competitive market. In the last year, the months supply of inventory has increased by 95.83%, making it an opportune time for sellers to list their homes. Let’s connect and discuss how we can navigate this market together.
MARKET TRENDS ANALYSIS:
As a real estate professional, it is important to provide buyers and sellers with an accurate analysis of the current market conditions. Looking at the data provided, we can see that the Months Supply of Inventory is currently 1.41, which indicates a low supply of homes for sale in the market. However, this number has increased by 95.83% over the past 12 months, indicating that inventory is slowly starting to increase.
Despite the low inventory, the Median Days Homes are On the Market is only 12, which suggests that homes are selling quickly. Additionally, the List to Sold Price Percentage is 98.3%, indicating that homes are selling close to their asking price. These two metrics combined suggest that there is a high demand for homes in the market.
Finally, the Median Sold Price is $360,000, which is a strong indicator of the current market conditions. Despite the low inventory, the high demand for homes has driven up the median sold price. This suggests that it is currently a seller’s market, and sellers may be able to command higher prices for their homes.
In summary, the low Months Supply of Inventory and high Median Sold Price suggest that it is currently a seller’s market. However, buyers should not be discouraged as homes are still selling quickly and close to their asking price. As a real estate professional, it is important to provide buyers and sellers with an accurate analysis of the current market conditions to help them make informed decisions.
We hope you have learned something today about the market updates and trends at Pearland. If you have any questions, reach out to our Houston Suburb Group, and our expert REALTOR® is here if you need help with the market trends and updates in Pearland, so you can get ready to EXPERIENCE LIVING IN HOUSTON, TEXAS!
Source: RPR
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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