In the current real estate market, there is a low supply of housing inventory with only 2.9 months worth available. This indicates a high demand for homes in the area. However, it is important to note that there has been a significant increase of 101.39% in the past 12 months in the number of months of inventory available, suggesting a potential shift in the market towards a more balanced supply and demand.
Despite the increase in inventory, homes are still selling relatively quickly with a median of 23 days on the market. This indicates that buyers are actively seeking out properties and are making decisions efficiently. Additionally, the list to sold price percentage is high at 99.4%, showing that homes are generally selling close to their asking price.
The median sold price in this market is $334,000, which is a key indicator for both buyers and sellers. For buyers, this median price point provides insight into the affordability of homes in the area. For sellers, it demonstrates the potential value of their property in the current market.
Overall, these real estate metrics suggest a dynamic and active market with a balance between supply and demand. Buyers should be prepared to act quickly when finding a property of interest, while sellers may find that their homes are priced competitively and are selling at a high percentage of their asking price.
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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