Hi Friends, thank you for joining me today as we delve into the fascinating world of real estate metrics. Whether you are a buyer or seller, understanding these metrics can provide valuable insights into the current state of the market and help inform your decision-making process.
Let’s begin by examining the months supply of inventory, which currently stands at 2.93. This metric represents the number of months it would take to sell all the available homes on the market if no new listings were added. A lower months supply indicates a seller’s market, where demand exceeds supply, potentially leading to higher prices and quicker sales. On the other hand, a higher months supply suggests a buyer’s market, where supply exceeds demand, which may lead to lower prices and longer listing times.
Now, let’s shift our attention to the 12-month change in months of inventory, which shows a positive trend of 0.69%. This indicates a slight increase in the supply of homes over the past year. While this may suggest a shift towards a more balanced market, it is important to consider other factors such as local economic conditions and buyer demand to fully understand the implications of this change.
Moving on, we have the median days homes are on the market, which currently stands at 45. This metric represents the average number of days it takes for a home to sell once it is listed. A lower median days on market indicates a more active and competitive market, where homes are selling quickly. Conversely, a higher median days on market suggests a slower market, where it may take longer for homes to find buyers.
Next, we have the list to sold price percentage, which stands at 97.2%. This metric measures the percentage of the original listing price that a home ultimately sells for. A higher percentage indicates strong negotiation skills on the seller’s side, while a lower percentage suggests that buyers have more leverage in the market. It is important to note that this metric can vary based on individual property characteristics and market conditions.
Finally, let’s explore the median sold price, which currently stands at an impressive $445,000. This metric represents the midpoint of all the sold prices in a given area. A higher median sold price indicates a robust market with strong demand and higher property values. However, it is essential to consider local factors such as location, property condition, and amenities when assessing the significance of this metric.
In conclusion, these real estate metrics provide a snapshot of the current market conditions. While a months supply of inventory of 2.93 suggests a seller’s market, the 12-month change in months of inventory shows a slight increase in supply. The median days homes are on the market is 45, indicating a relatively active market. The list to sold price percentage of 97.2% suggests a balanced negotiation environment. Finally, the median sold price of $445,000 indicates a robust market with higher property values. Buyers and sellers alike can use these metrics to gain a better understanding of the market and make informed decisions. Thank you for your attention, and I wish you all the best in your real estate endeavors.
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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