When analyzing the real estate market data provided, we can see correlations between various key metrics that can provide valuable insights for both buyers and sellers.
Firstly, the Months Supply of Inventory is at 2.59, indicating a relatively low inventory level. This suggests a seller’s market, where there are more buyers than available properties. This can lead to increased competition among buyers and potentially higher sale prices.
The 12-Month Change in Months of Inventory is +34.2%, showing a significant increase in inventory over the past year. This could indicate a shift towards a more balanced market, providing buyers with more options and potentially leading to a more competitive pricing environment.
The Median Days Homes are On the Market is 30, which is a relatively short amount of time. This indicates that properties are selling quickly, likely due to high demand and low inventory levels.
The List to Sold Price Percentage is 97.6%, suggesting that homes are generally selling close to their list price. This can be beneficial for sellers looking to maximize their return on investment.
Lastly, the Median Sold Price is $340,000, providing an indication of the average sales price in the market. This information can be helpful for both buyers and sellers in understanding current market trends and setting realistic expectations.
Overall, these metrics paint a picture of a dynamic real estate market with low inventory levels, high demand, quick sales, and strong pricing. Buyers and sellers alike can use this information to make informed decisions and navigate the market effectively.
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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