As a professional in the real estate industry, it is important to understand the correlation between key metrics to make informed decisions when buying or selling a home.
The Months Supply of Inventory is currently at 4, indicating a balanced market where supply and demand are relatively equal. However, the 12-Month Change in Months of Inventory has seen a significant increase of 107.25%, suggesting a shift towards a more buyer-friendly market with an increase in available inventory.
Despite the increase in inventory, the Median Days Homes are On the Market is at a low of 13 days, indicating a strong demand for homes in the area. This quick turnaround time can be attributed to the List to Sold Price Percentage of 98.4%, showing that homes are selling close to their asking price.
Furthermore, the Median Sold Price of $616,000 reflects the current market value of homes in the area. With a balanced supply of inventory, high demand, and homes selling at a high percentage of their asking price, sellers can expect to receive a fair price for their property.
Buyers, on the other hand, may benefit from the increased inventory and competitive pricing, making it a favorable time to explore the market for potential opportunities.
In conclusion, the correlation between these real estate metrics suggests a dynamic market with opportunities for both buyers and sellers. It is essential to stay informed and work with a professional real estate agent to navigate these trends effectively.
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
