When analyzing the real estate market, it is important to consider multiple metrics to get a comprehensive understanding of current trends. In this case, we have a Months Supply of Inventory of 3.15, indicating a balanced market where supply and demand are relatively equal. The 12-Month Change in Months of Inventory has increased by 1.76%, suggesting a slight increase in inventory levels over the past year.
The Median Days Homes are On the Market is 20, which is relatively low and indicates that homes are selling quickly in this market. This could be attributed to high demand or competitive pricing strategies by sellers. The Sold to List Price Percentage is 0.99%, indicating that homes are selling very close to their listing prices on average.
Finally, the Median Sold Price in this market is $295,000. This provides valuable information for both buyers and sellers in terms of pricing expectations. Buyers can use this information to gauge the affordability of homes in the market, while sellers can use it to determine a competitive listing price for their property.
Overall, these metrics paint a picture of a market with balanced supply and demand, quick sales, and homes selling close to their listing prices. Buyers and sellers can use this information to make informed decisions 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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