The real estate market is currently experiencing a months supply of inventory of 3.68, indicating a relatively balanced market between buyers and sellers. However, there has been a significant increase of 40.46% in the past 12 months, suggesting a potential shift towards a buyer’s market in the near future.
The median days homes are on the market is 34, which is considered a relatively short amount of time in comparison to other markets. This indicates a high level of demand for properties in this area.
The list to sold price percentage is 97.9%, suggesting that sellers are typically able to sell their homes for close to their asking price. This is good news for sellers looking to maximize their return on investment.
The median sold price in this market is $305,214, which is a strong indicator of the overall health and stability of the real estate market in this area. Buyers can expect to find properties at a reasonable price point, while sellers can feel confident in the value of their homes.
In conclusion, the real estate market in this area is currently showing signs of a balanced market, with strong demand from buyers and sellers. The increase in inventory over the past year may indicate a shift in the market dynamics, but overall, this area remains a strong and stable market for both buyers and sellers.
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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