In the current real estate market, we see a healthy balance between supply and demand. The Months Supply of Inventory is 2.97, indicating that there is a slight shortage of available homes for sale compared to the level of demand.
The 12-Month Change in Months of Inventory has increased by +28.02%, suggesting that inventory levels have been rising over the past year. This could potentially lead to a more balanced market in the near future as more homes become available for buyers.
The Median Days Homes are On the Market is 37, indicating that homes are selling relatively quickly in this market. This could be attributed to the low inventory levels and high demand for homes.
The List to Sold Price Percentage is 97.7%, showing that homes are generally selling very close to their asking price. This could be a result of competitive bidding among buyers in a tight market.
Lastly, the Median Sold Price is $414,000, which gives us an insight into the overall price range of homes in this market. This information is valuable for both buyers and sellers to understand the current pricing trends in the area.
Overall, these metrics suggest a dynamic real estate market with limited inventory, quick sales, and homes selling close to their asking price. Buyers and sellers should be mindful of these factors when making 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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