Are you thinking of buying or selling a home in Fulshear, Texas? As a REALTOR® with The Houston Suburb Group, we are excited to share that the market is looking great! According to RPR’s Market Trends data, there are currently only 2.24 months of inventory available, and over the last 12 months, we’ve seen a -21.13% decrease in Months Supply of Inventory. This means that homes are selling fast!
MARKET TRENDS ANALYSIS:
As we analyze the real estate metrics, we can see a strong correlation between them. The Months Supply of Inventory (MSI) measures the number of months it would take to sell all the current homes for sale at the current sales pace. With an MSI of 2.24, we can conclude that the real estate market in this area is in high demand, which is great news for sellers.
The 12-Month Change in Months of Inventory measures the percentage change in MSI over the past year. The -21.13% decrease in MSI indicates that the demand for homes has increased substantially over the past year, leading to a more competitive market for buyers.
The Median Days Homes are On the Market is another important metric that measures the average number of days a home remains on the market before being sold. With a median of 28 days, we can conclude that homes are selling quickly in this area, which is another positive for sellers.
The List to Sold Price Percentage measures the percentage difference between the original listing price and the final sold price of a home. With a percentage of 98%, we can conclude that homes in this area are priced competitively and are selling close to their asking price.
Finally, the Median Sold Price measures the midpoint of all home sales in the area. With a median sold price of $501,139, we can conclude that the real estate market in this area is strong and that homes are selling for a good value.
Overall, these metrics provide valuable insight into the real estate market in this area. Buyers and sellers can use this information to make informed decisions about their real estate transactions. It’s important to note that these metrics can vary by location and time, so it’s essential to consult with a local real estate professional for the most accurate and up-to-date information.
We hope you have learned something today about the market updates and trends at Fulshear. 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 Fulshear, 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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