The real estate market is currently experiencing a healthy balance between supply and demand, with a steady Months Supply of Inventory at 3.65. This indicates that there is a good amount of inventory available for potential buyers to choose from, while still maintaining a level of scarcity that can drive competition.
The 12-Month Change in Months of Inventory at +103.91% shows a significant increase in the amount of inventory available compared to the previous year. This could be due to a variety of factors, such as more homes being listed on the market or a decrease in buyer demand. Regardless, this increase provides buyers with more options to choose from and potentially negotiate better deals.
Despite the increase in inventory, the Median Days Homes are On the Market at 29 suggests that homes are still selling relatively quickly. This could be attributed to a combination of competitive pricing, desirable locations, and effective marketing strategies.
The List to Sold Price Percentage at 99.6% indicates that sellers are pricing their homes competitively and buyers are willing to pay close to the asking price. This suggests a strong market where buyers are willing to pay a premium for well-priced properties.
Finally, the Median Sold Price of $417,500 shows that the market is robust with properties selling at a relatively high price point. This could be indicative of a desirable location, quality of homes, or strong demand from buyers.
Overall, these metrics paint a picture of a real estate market that is balanced, competitive, and attractive to both buyers and sellers. Buyers have a good selection of homes to choose from, while sellers have the opportunity to sell their properties quickly and at a favorable price.
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.
Download our FREEBIES here!
The Ultimate Home Buyer’s Guide
The Ultimate Home Seller’s Guide
Find us on YouTube!
#jenniferyoingcorealtor #jenniferyoingco #JenniferYoingcoTexas #houstonsuburb #houstonsuburbs #houstonsuburbgroup #texasrelocationexperts #HoustonRelocationExpert #HoustonRelocationSpecialist #NurseRelocationExpert #NurseRelocationSpecialist #newhomeconstruction #thehighlands #ravennahomes #ravennahomesforsale #ravennahomesrealtor #ravennahomesrealestateagent #springtexas #tomballtexas #livinginhoustontexas #livinginhouston #thewoodlandstexas #conroetexas #montgomerytexas #cypresstexas #newcaneytexas #portertexas #katytexas #pearlandtexas #richmondtexas #fulsheartexas #sugarlandtexas #houstontexas #magnoliatexas #hockleytexas #pinehursttexas #jerseyvillagetexas #humbletexas
