The real estate market is currently showing a healthy balance between supply and demand, with a months supply of inventory at 3.92. This indicates that at the current rate of sales, it would take approximately 3.92 months to sell all the homes on the market.
The 12-month change in months of inventory is up by 16.32%, suggesting that the market may be becoming slightly more saturated with listings compared to the previous year. This could be due to an increase in new construction or a decrease in buyer demand.
Homes are typically staying on the market for a relatively short period of time, with a median of 35 days. This indicates that there is strong interest from buyers and properties are selling quickly.
The list to sold price percentage is at 96.9%, showing that homes are generally selling close to their list price. This suggests that sellers are pricing their homes competitively and buyers are willing to pay close to asking price.
The median sold price for homes is $307,900, indicating a healthy market where homes are selling at a reasonable price point. Overall, these metrics paint a picture of a balanced real estate market with opportunities for both buyers and sellers.
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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