The real estate market is currently experiencing a moderate level of inventory, with a months supply of inventory at 3.25. This indicates that it would take approximately 3.25 months to sell all the homes currently on the market if no new listings were added.
The 12-month change in months of inventory has increased significantly by 121.09%, suggesting that there has been a notable increase in the number of homes available for sale compared to the previous year. This increase in inventory could potentially benefit buyers as they have more options to choose from.
Despite the increase in inventory, homes are selling quickly with a median of only 11 days on the market. This indicates a high level of demand in the market, leading to a quick turnover of available homes.
Sellers can take advantage of this high demand by pricing their homes competitively, as the sold to list price percentage is at a strong 97.7%. This means that on average, homes are selling for 97.7% of their listing price, showing that buyers are willing to pay close to the asking price for desirable properties.
The median sold price in the current market stands at $335,000, indicating a healthy and stable market with reasonable prices for both buyers and sellers. Overall, the data suggests a balanced real estate market with opportunities for both buyers and sellers to make informed decisions.
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.
Download our FREEBIES here!
The Ultimate Home Buyer’s Guide
The Ultimate Home Seller’s Guide
Find us on YouTube!
#jenniferyoingcorealtor #jenniferyoingco #JenniferYoingcoTexas #houstonsuburb #houstonsuburbs #houstonsuburbgroup #texasrelocationexperts #HoustonRelocationExpert #HoustonRelocationSpecialist #NurseRelocationExpert #NurseRelocationSpecialist #newhomeconstruction #thehighlands #ravennahomes #ravennahomesforsale #ravennahomesrealtor #ravennahomesrealestateagent #springtexas #tomballtexas #livinginhoustontexas #livinginhouston #thewoodlandstexas #conroetexas #montgomerytexas #cypresstexas #newcaneytexas #portertexas #katytexas #pearlandtexas #richmondtexas #fulsheartexas #sugarlandtexas #houstontexas #magnoliatexas #hockleytexas #pinehursttexas #jerseyvillagetexas #humbletexas
