Hello Friends, today, we have some fascinating real estate metrics to discuss that will surely pique the interest of both buyers and sellers. So, buckle up and get ready for an engaging journey into the world of housing data!
Let’s start with the months supply of inventory, shall we? Currently, we find ourselves in a market where the months supply of inventory stands at a low 1.79. What does this mean, you ask? Well, it indicates that if no new homes were to come onto the market, it would only take around 1.79 months to sell all the available homes. In other words, demand is high, and options are limited!
Now, let’s shift our attention to the 12-month change in months of inventory. Brace yourselves, folks, because this one is quite remarkable. Over the past year, we have witnessed a staggering decrease of 24.15% in the months of inventory. This means that the market has become even more competitive, with fewer homes available for potential buyers. Sellers, rejoice!
Moving right along, let’s talk about the median days homes are on the market. Hold onto your hats because this particular metric will blow you away. Are you ready? Brace yourself for the astonishing fact that homes, on average, are spending a mere 3 days on the market. That’s right, folks, blink, and you might just miss out on your dream home!
Now, let’s delve into the list to sold price percentage. Prepare to be impressed, everyone, as this metric reveals the strong negotiation power of sellers. The list to sold price percentage currently stands at a remarkable 99.9%. This means that homes are selling incredibly close to their list prices, indicating that buyers are willing to meet the demands of sellers. It’s a win-win situation for both sides!
And finally, let’s talk about the median sold price. Drumroll, please! The median sold price in this market is a jaw-dropping $1,100,000. Yes, you heard that right. The real estate market is seeing some impressive figures, and sellers are reaping the rewards!
So there you have it, folks, a captivating analysis of the correlation between these real estate metrics. Buyers, be prepared to face a competitive market with limited options, yet don’t be afraid to negotiate. Sellers, rejoice in your ability to sell quickly and at prices close to your expectations. The real estate market is buzzing, and it’s an exciting time for all involved. Happy buying and selling!
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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