The real estate market is currently experiencing a healthy balance between supply and demand, as indicated by the Months Supply of Inventory at 3.93. This means that at the current rate of sales, it would take approximately 3.93 months to sell all the available inventory.
The 12-Month Change in Months of Inventory shows a slight increase of 0.37%, suggesting a gradual shift towards a more balanced market. This small change indicates a stable and steady growth in the real estate market.
With a Median Days Homes are On the Market of 26, properties are selling relatively quickly, indicating strong buyer interest. This is good news for sellers who are looking to sell their homes in a timely manner.
The Sold to List Price Percentage of 0.98% indicates that homes are selling very close to their asking price, showing that sellers are pricing their homes effectively and buyers are willing to pay close to asking price.
The Median Sold Price of $294,000 reflects a stable and healthy market where prices are holding steady. This is good news for both buyers and sellers as it indicates a balanced market where both parties can benefit.
Overall, the real estate market is currently in a good place with a balanced supply and demand, quick sales, and stable prices. This data suggests that now is a good time for both buyers and sellers to participate in the 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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