Have you been watching the market in Copperfield, Houston? Over the last 12 months, the monthly supply of inventory has increased by 81.63%. But don’t be deterred! With a list-to-sold price percentage of 99.8%, now is still a great time to buy or sell. Contact The Houston Suburb Group to learn more about the current real estate market trends in Copperfield.
MARKET TRENDS ANALYSIS:
As we analyze the real estate metrics for the current market, we can see some interesting correlations that can help buyers and sellers make informed decisions. The Months Supply of Inventory is a key indicator of the current state of the market. At 0.89, it indicates that there is currently less than one month’s worth of inventory available for sale, which is indicative of a highly competitive market.
However, when we look at the 12-Month Change in Months of Inventory, we see that there has been an increase of 81.63% over the past year. This increase in inventory can be a positive sign for buyers, as it can lead to more options and potentially lower prices.
Another important metric to consider is the Median Days Homes are On the Market, which is currently at 7. This low number further reinforces the competitive nature of the market, as homes are selling quickly and often receiving multiple offers.
The List to Sold Price Percentage is another useful metric. At 99.8%, it shows that homes are typically selling very close to their asking price. This can be a positive sign for sellers, as it indicates that their homes are being priced appropriately and that buyers are willing to pay the asking price.
Finally, the Median Sold Price is currently at $320,000. This is a useful metric to consider for both buyers and sellers, as it gives an indication of the current market value of homes in the area.
Overall, these real estate metrics show that the current market is highly competitive, with low inventory and homes selling quickly. However, the increase in inventory over the past year can be a positive sign for buyers, and the high List to Sold Price Percentage indicates that homes are being priced appropriately. The Median Sold Price gives an indication of the current market value of homes in the area, which can be useful for both buyers and sellers.
We hope you have learned something today about the market updates and trends at Copperfield. 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 Copperfield, 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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