Hey Auburn Lakes residents! The Houston Suburb Group here, your local REALTOR® with Walzel Properties. I wanted to share some positive news about our housing market. The Median days on the market are only 35 days, and the Median Sold Price is at $580,000. Additionally, there is currently only a 1.56 Months Supply of Inventory, which is a significant increase of +218.37% from this time last year. If you’re thinking about selling your home or looking to buy, let’s talk about how these market trends can benefit you.
MARKET TRENDS ANALYSIS:
When analyzing the current real estate market, we can see that there is a correlation between several key metrics that can serve as valuable indicators for both buyers and sellers.
Firstly, the Months Supply of Inventory is a crucial metric that measures the amount of time it would take for all the current homes on the market to be sold, given the current pace of sales. Currently, the Months Supply of Inventory is at a low of 1.56 months, indicating a strong seller’s market where demand is high and supply is limited.
However, it’s important to note that the 12-Month Change in Months of Inventory is +218.37%, which indicates that the market has shifted from a more balanced market to a seller’s market in the past year. This suggests that the market has become more competitive, with more buyers than available homes.
Despite the high demand, the Median Days Homes are On the Market is only 35 days, indicating that properties are moving quickly and that buyers need to act fast when they find a home they like.
Additionally, the List to Sold Price Percentage is 97.7%, which suggests that most homes are selling for close to their asking price. This is a positive indicator for sellers, as it suggests that they can expect to receive a fair offer for their home.
Lastly, the Median Sold Price is a key metric that measures the middle price point of all homes sold in a particular area. Currently, the Median Sold Price is at $580,000, indicating that the market is strong and that prices are rising.
In conclusion, these metrics suggest that the current real estate market is a strong seller’s market, with high demand, low inventory, and rising prices. For buyers, this means that they may need to act quickly and be prepared to compete with other buyers. For sellers, this is a great time to list their property, as they can expect to receive a fair offer for their home.
We hope you have learned something today about the market updates and trends at Auburn Lakes. 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 update in Auburn Lakes, 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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