The real estate market is currently showing a healthy balance between supply and demand, with a Months Supply of Inventory at 3.13. This means that at the current rate of sales, it would take approximately 3.13 months to sell all the available homes on the market.
The 12-Month Change in Months of Inventory has increased by +13.82%, indicating a slight increase in supply compared to the previous year. Despite this increase, the market remains relatively stable with a reasonable level of inventory.
Homes are selling relatively quickly, with a median of 35 days on the market. This suggests that there is strong demand from buyers, leading to a quicker turnover of properties.
Sellers are seeing good returns on their investments, with a List to Sold Price Percentage of 97%. This means that homes are typically selling for very close to their listing prices, showing that sellers are pricing their properties competitively and buyers are willing to pay close to asking price.
The median sold price in this market is $510,777, indicating that homes are selling at a moderate price point. This is a good sign for both buyers and sellers, as it suggests a balanced market where both parties can find value.
Overall, the data suggests a healthy and balanced real estate market, with strong demand from buyers, competitive pricing from sellers, and a reasonable level of inventory. Buyers and sellers can feel confident in the current state of the market and can expect a fair and efficient process when buying or selling a home.
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
