Hello friends, welcome to today’s analysis of the real estate market. Whether you are a buyer or a seller, it is crucial to stay informed about the current state of the market. Today, we will be discussing several key real estate metrics that will provide you with valuable insights.
Firstly, let’s examine the “Months Supply of Inventory,” which currently stands at 3.8. This metric measures the number of months it would take for the current inventory of homes on the market to be sold, given the current sales pace. A lower number indicates a stronger seller’s market, as there is less inventory available for buyers to choose from.
Now, let’s focus on the “12-Month Change in Months of Inventory,” which is at -11.01%. This figure demonstrates the percentage change in the number of months it would take to sell the existing inventory compared to the same period last year. A negative value signifies that inventory is decreasing over time. This is important for sellers as it suggests that their properties may be in higher demand than in the previous year.
Moving on, we come to the “Median Days Homes are On the Market,” which currently stands at an impressive 15 days. This metric indicates the average number of days it takes for a home to sell after being listed. A lower number suggests a faster-moving market, indicating high buyer demand and potentially multiple offers on properties. For sellers, this means a quicker turnaround time and less time spent waiting for a buyer.
Next, we have the “List to Sold Price Percentage,” which currently sits at 96.3%. This metric represents the percentage of the listing price that sellers are actually receiving when their homes are sold. A higher percentage indicates that sellers are achieving a greater portion of their asking price, which bodes well for sellers looking to maximize their profits.
Lastly, let’s discuss the “Median Sold Price,” which currently stands at $2,179,000. This figure represents the midpoint of all sold prices in a given period. As a buyer, this metric provides a benchmark for pricing expectations. For sellers, it demonstrates the current market value of properties, giving them an idea of what they might be able to sell their homes for.
In summary, these real estate metrics paint an intriguing picture of the current market conditions. With a relatively low months supply of inventory and a decrease in the number of months it takes to sell homes compared to the previous year, it appears that demand is strong. The median days homes are on the market is impressively low, indicating a fast-paced environment. Additionally, the list to sold price percentage suggests that sellers are achieving a significant portion of their asking prices. Finally, the median sold price provides buyers and sellers alike with valuable information regarding property values.
Thank you for joining us today, and we hope this analysis has provided you with valuable insights into the real estate market. Whether you are a buyer or seller, staying informed about these metrics will undoubtedly help you navigate the market with confidence and make informed decisions.
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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