Hello friends, thank you for joining me today as we delve into the fascinating world of real estate metrics. Whether you are a buyer or a seller, understanding these metrics can provide valuable insights into the current market conditions and help you make informed decisions. So, let’s jump right into it!
First, let’s take a look at the “Months Supply of Inventory,” which currently stands at 2.76. This metric measures the number of months it would take to sell all the available homes on the market, assuming no new listings come in. A lower value indicates a seller’s market, where demand outpaces supply, potentially leading to higher prices.
Now, let’s examine the “12-Month Change in Months of Inventory,” which shows a positive change of 7.39%. This means that the supply of homes has increased over the past year. While this may be good news for buyers as more options become available, sellers may need to adjust their pricing strategies to remain competitive.
Moving on, we have the “Median Days Homes are On the Market,” which currently sits at 17 days. This metric indicates the average number of days it takes for a home to go from listing to being sold. A lower value reflects a faster-paced market, where properties are in high demand and tend to sell swiftly.
Next, we have the “List to Sold Price Percentage,” which stands at an impressive 98.2%. This metric reveals the percentage of the listing price that sellers are ultimately able to achieve in the sale of their homes. A higher percentage suggests that sellers are receiving offers close to their asking prices, indicating a strong market and potentially signaling an advantageous position for sellers.
Lastly, let’s turn our attention to the “Median Sold Price,” which currently stands at $407,500. This metric represents the middle point of all the home sale prices in the market. It provides a valuable benchmark for both buyers and sellers, helping them gauge the average price range of properties in the area.
Now that we’ve explored these real estate metrics, it’s clear that we are currently in a dynamic market with a moderately low supply of homes but a positive trend in inventory growth. Sellers can take advantage of the high list to sold price percentage, while buyers may face a slightly longer wait time due to the low median days on the market.
As always, it’s crucial to consult with a real estate professional who can provide personalized advice based on your specific goals and circumstances. Thank you for your attention, and I hope this analysis has been informative and engaging for you.
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
