Did you know that the list to sold price percentage in Conroe is at a strong 98.3%? That’s great news for sellers looking to maximize their profits. Additionally, the median days on market is only 24, indicating a fast-moving market.
MARKET TRENDS ANALYSIS:
As a real estate professional, it is important to understand the correlation between various metrics to provide accurate insights to our clients. In this analysis, we will be looking at five key metrics – Months Supply of Inventory, 12-Month Change in Months of Inventory, Median Days Homes are On the Market, List to Sold Price Percentage, and Median Sold Price.
Starting with Months Supply of Inventory, which is currently at 2.88, this metric represents the number of months it would take for all the current homes on the market to be sold, assuming no new homes are added. A lower number indicates a seller’s market, while a higher number indicates a buyer’s market.
Next, the 12-Month Change in Months of Inventory is +46.94%. This metric shows how much the Months Supply of Inventory has changed over the past year. In this case, we see that there has been a significant increase in inventory, indicating a shift towards a buyer’s market.
Moving on to Median Days Homes are On the Market, which is currently at 24. This metric represents the number of days it takes for a home to go from listing to being sold. A lower number indicates a faster-moving market and higher demand.
The List to Sold Price Percentage is currently at 98.3%, which represents the percentage of the list price that homes are actually selling for. A higher percentage indicates that homes are selling closer to their listing price, which is a positive sign for sellers.
Finally, we have the Median Sold Price, which is currently at $351,671. This metric represents the midpoint of all the sold prices over a given period. A higher median sold price indicates a more expensive market and higher demand.
Overall, we see that the Months Supply of Inventory and 12-Month Change in Months of Inventory are indicating a shift toward a buyer’s market, while the Median Days Homes are On the Market, List to Sold Price Percentage, and Median Sold Price are all indicating a positive market for sellers. However, it is important to note that these metrics are subject to change and can vary based on location, property type, and other factors. As always, it is important to work with a knowledgeable real estate professional who can provide customized insights based on your specific situation.
We hope you have learned something today about the market updates and trends at Conroe. 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 updates in Conroe, 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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