Hi Friends, today we will be diving into the fascinating world of real estate metrics. For all you buyers and sellers out there, this analysis will shed light on the correlation between key measures that play a significant role in the housing market. So, let’s get started!
First up, we have the Months Supply of Inventory, which currently stands at 2.18. This metric indicates the number of months it would take to sell all the available homes on the market if no new listings were added. A lower value suggests a seller’s market, where demand exceeds supply, leading to potentially higher prices and faster sales.
Now, let’s take a closer look at the 12-Month Change in Months of Inventory, which is -12.8%. This figure reflects the percentage change in the supply of homes over the past year. In this case, the negative value signifies a decrease in inventory, implying that the market has become more competitive for buyers. Sellers may benefit from this situation as it often leads to quicker sales and potentially higher prices.
Moving on, we have the Median Days Homes are On the Market, which currently stands at 24. This metric represents the average number of days it takes for a home to sell. A lower value, such as 24 days, suggests a fast-paced market, indicating high demand and potentially competitive bidding situations. Buyers need to act swiftly and be prepared to make timely decisions.
Another important metric is the List to Sold Price Percentage, which currently stands at 93.2%. This figure represents the percentage of the original list price that a home ultimately sells for. A higher percentage suggests that homes are generally selling very close to the asking price, indicating a strong market where sellers have more negotiating power.
Lastly, we have the Median Sold Price, which currently stands at $393,500. This metric represents the midpoint of all home sale prices, with half of the homes selling above this price and half below. The Median Sold Price provides insight into the overall pricing trends in the market. In this case, the figure of $393,500 suggests a relatively healthy housing market, where prices are stable or showing modest growth.
Now, let’s tie all of these metrics together. The low Months Supply of Inventory, combined with the decreasing trend in the 12-Month Change in Months of Inventory, indicates a market that heavily favors sellers. This is reinforced by the high List to Sold Price Percentage, suggesting that homes are selling very close to their initial listing price.
Additionally, the Median Days Homes are On the Market, which is relatively low at 24 days, further supports the notion of a fast-paced market with high demand. Finally, the Median Sold Price of $393,500 indicates that prices are stable or experiencing modest growth.
In conclusion, buyers and sellers should take note of these real estate metrics as they provide valuable insights into the current market conditions. Sellers may find themselves in a favorable position with low inventory and high list to sold price percentages, while buyers should be prepared for a competitive market with quick sales and potentially higher prices.
Thank you for joining us today, and we hope this analysis has provided valuable information for both buyers and sellers in the real estate 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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