The real estate market is currently showing a healthy balance between supply and demand with a Months Supply of Inventory at 3.12. This means that it would take approximately 3.12 months to sell all of the current inventory if no new listings were added.
The 12-Month Change in Months of Inventory has seen an increase of +20.93%, indicating a slight increase in inventory levels compared to the previous year. This could be a positive sign for buyers as it may lead to more options and potentially lower prices.
Homes are spending a relatively short amount of time on the market, with a Median Days On the Market of 25. This suggests that properties are selling quickly, which could be attributed to high demand in the market.
The List to Sold Price Percentage is at a healthy 96.3%, indicating that homes are generally selling close to their list price. This could be a positive indicator for sellers as it shows that buyers are willing to pay close to the asking price for properties.
The Median Sold Price in the market is $521,000, a figure that represents the midpoint of all sold prices in the market. This gives buyers and sellers an idea of the current pricing trends in the area.
Overall, the data suggests a balanced real estate market with a healthy level of demand and inventory. Buyers may benefit from a slightly increasing inventory level, while sellers can take advantage of quick sales and strong list to sold price percentages.
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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