Hello friends, today, we will be discussing some key real estate metrics that can provide valuable insights into the current state of the market. By analyzing these metrics, you will be able to make informed decisions when buying or selling a property.
Let’s start by examining the “Months Supply of Inventory.” Currently, the months supply of inventory stands at 2.4. This metric represents the number of months it would take to sell all the available properties on the market, given the current pace of sales. A lower number indicates a seller’s market, where demand outweighs supply. In this case, with a months supply of inventory at 2.4, we can infer that the market is relatively competitive, favoring sellers.
Now, let’s dive into the “12-Month Change in Months of Inventory,” which is at a positive 17.65%. This metric provides insights into the trend of supply and demand over the past year. The positive figure suggests that the number of available properties has increased compared to the previous year. This increase in supply may indicate a more balanced market, where buyers have more options to choose from.
Moving on, we have the “Median Days Homes are On the Market,” which currently stands at 43. This metric showcases the average number of days it takes to sell a property. A lower number indicates a faster-paced market, where properties are selling quickly. In this case, with a median of 43 days, we can infer that the market is relatively active, and properties are moving relatively fast.
Next up is the “List to Sold Price Percentage,” which is at 97.4%. This metric represents the percentage of the original list price that sellers receive when their property is sold. A higher percentage indicates that sellers are able to negotiate closer to their asking price. In this case, with a list to sold price percentage of 97.4%, sellers can expect to receive a significant portion of their original asking price.
Lastly, we have the “Median Sold Price,” which currently stands at $376,900. This metric provides an idea of the average price at which properties are being sold. By knowing the median sold price, buyers and sellers can gauge the overall pricing trends in the market. In this case, with a median sold price of $376,900, we can conclude that properties in this market tend to sell at a relatively higher price point.
In summary, these real estate metrics provide valuable insights into the current market conditions. With a months supply of inventory at 2.4 and a positive 12-month change in months of inventory, we can infer that the market is relatively competitive, with an increasing supply of properties. Additionally, the median days homes are on the market is 43, indicating a relatively active market where properties are selling quickly. Sellers can also expect to negotiate close to their asking price, as indicated by the list to sold price percentage of 97.4%. Lastly, the median sold price of $376,900 suggests that properties in this market tend to sell at a higher price point.
We hope that this analysis has provided you with valuable insights into the current real estate market. Whether you are a buyer or a seller, understanding these metrics will empower you to make informed decisions. Thank you for your attention, and we wish you the best of luck in your real estate endeavors.
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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