The real estate market is currently experiencing a healthy level of inventory with a months supply of inventory at 3.71. This indicates that there is a good balance between supply and demand, making it an attractive market for both buyers and sellers.
The 12-month change in months of inventory is relatively stable at 0.23%, showing that the market has been consistent over the past year. This stability is a positive sign for buyers and sellers as it indicates a predictable and reliable market.
Homes are selling fairly quickly with a median days on the market of 53. This means that properties are moving efficiently, which is advantageous for sellers looking to make a quick sale. However, buyers should be prepared to act fast in order to secure their desired property.
The sold to list price percentage is at a strong 0.98%, indicating that homes are selling close to their list price. This is a positive indicator for sellers as it suggests that they are likely to receive a fair price for their property.
The median sold price in this market is $485,000, providing buyers and sellers with a benchmark for pricing their properties. This information can help both parties make informed decisions when it comes to buying or selling a home.
Overall, the current real estate metrics paint a picture of a stable and balanced market that is beneficial for both buyers and sellers. With a healthy level of inventory, quick selling times, and strong pricing indicators, now is a great time to consider buying or selling a property in this market.
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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