Hi Friends, as a professional in the real estate industry, it is important to understand the correlation between various metrics to provide valuable insights for both buyers and sellers.
The Months Supply of Inventory, which currently stands at 2.33, indicates the number of months it would take to sell all the homes on the market at the current pace of sales. A lower number typically indicates a seller’s market, while a higher number suggests a buyer’s market.
The 12-Month Change in Months of Inventory, which has increased by +6.39%, shows a shift in market conditions over the past year. This increase could suggest a cooling off in the market or an increase in inventory, potentially giving buyers more options.
The Median Days Homes are On the Market, at 38 days, indicates the average amount of time it takes for a home to sell. A lower number suggests a faster-moving market, while a higher number may indicate a slower market.
The List to Sold Price Percentage, which is currently at 96.3%, shows the ratio of the final sale price to the listing price. A higher percentage typically indicates strong negotiation skills and a competitive market.
Lastly, the Median Sold Price, which is $341,900, gives an indication of the average price at which homes are selling in the market. This can be useful for both buyers and sellers in understanding current market values.
Overall, these metrics paint a picture of a market with relatively low inventory, a moderate increase in supply, a fast pace of sales, strong negotiation skills, and a median price point of $341,900. Buyers may find limited options but should be prepared to act quickly, while sellers may benefit from competitive pricing strategies.
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
