If you’re curious about the current state of the Cypress real estate market, look no further! As a REALTOR® with The Houston Suburb Group, I am happy to share some recent market trends data. The current Months Supply of Inventory is only 1.89, which means it’s a strong seller’s market. The List to Sold Price percentage is 98.5%, indicating that homes are selling for almost their entire asking price. The median days on market is only 15, making it a great time for sellers to list their home. Let’s chat about your real estate goals!
MARKET TRENDS ANALYSIS:
As a real estate professional, it is important to understand the correlation between different metrics in order to make informed decisions when buying or selling a property. In this analysis, we will examine the relationship between 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.
The Months Supply of Inventory is a metric that measures how long it would take to sell all of the homes on the market at the current rate of sales. In this case, the Months Supply of Inventory is 1.89, which indicates a seller’s market. This means that there are more buyers than there are homes available for sale, which can lead to multiple offers and bidding wars.
The 12-Month Change in Months of Inventory is a metric that compares the current Months Supply of Inventory to the same time period from the previous year. In this case, the 12-Month Change in Months of Inventory is +53.66%, which indicates that there are more homes available for sale than there were last year. This is a good sign for buyers, as it means that there may be more negotiating power when it comes to price.
The Median Days Homes are On the Market is a metric that measures how long it takes for a home to sell once it has been listed. In this case, the median days homes are on the market is 15, which is a relatively short amount of time. This is another indication of a seller’s market, as homes are selling quickly.
The List to Sold Price Percentage is a metric that measures the percentage of the listing price that a home actually sells for. In this case, the List to Sold Price Percentage is 98.5%, which indicates that homes are selling for almost the full listing price. This is another indication of a seller’s market, as buyers are willing to pay close to the asking price in order to secure a home.
Finally, the Median Sold Price is a metric that measures the middle price point for all homes sold in a given area. In this case, the Median Sold Price is $420,000. This is a relatively high price point, which is another indication of a seller’s market where demand is high.
In summary, these metrics all point towards a strong seller’s market where demand is high and homes are selling quickly. However, the 12-Month Change in Months of Inventory indicates that there may be more negotiating power for buyers compared to the previous year. Buyers and sellers should keep these metrics in mind when making decisions about buying or selling a property.
We hope you have learned something today about the market updates and trends at Cypress. 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 Cypress, 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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