Are you curious about how long it takes for a home to sell in Humble, Texas? According to RPR’s market trends data, the median days on market is only 19 days! This is great news for sellers looking to move quickly and buyers who are eager to find their dream home. Let me help you navigate the market and find the perfect match. Reach out to me today.
MARKET TRENDS ANALYSIS:
When analyzing the current real estate market, it is important to consider multiple metrics to get a comprehensive understanding of the trends and dynamics. Let’s take a closer look at the correlation between some of the key metrics that are critical for buyers and sellers to understand.
The Months Supply of Inventory is a crucial metric that represents the number of months it would take for all the current homes on the market to sell, given the current rate of sales. A lower number indicates that the market is favorable for sellers, while a higher number indicates that the market is favorable for buyers. In this case, the Months Supply of Inventory is 1.86, which suggests that the market is currently leaning towards sellers.
On the other hand, the 12-Month Change in Months of Inventory is a metric that represents the percentage increase or decrease in the supply of homes on the market, compared to the same period last year. A positive percentage indicates that the supply of homes has increased, while a negative percentage indicates that the supply has decreased. In this case, the 12-Month Change in Months of Inventory is +89.8%, which represents a significant increase in the supply of homes.
Despite the increase in supply, the Median Days Homes are On the Market is only 19, which indicates that homes are selling quickly. This could be due to the high List to Sold Price Percentage of 98.6%, which represents the average percentage of the list price that homes are actually sold for. This suggests that buyers are willing to pay close to the asking price for homes, which is good news for sellers.
Finally, the Median Sold Price is $316,500, which is a crucial metric for buyers and sellers alike. This represents the midpoint of all the homes that have sold in the market, and it helps to give an idea of the overall price range for homes in the area.
Overall, these metrics suggest that while the supply of homes has increased, the market is still favorable for sellers, as homes are selling quickly and close to the asking price. For buyers, it is important to act quickly and be prepared to pay close to the asking price to secure a home in this competitive market.
We hope you have learned something today about the market updates and trends at Humble. 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 Humble, 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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