As a professional in the real estate industry, it is important to understand the correlation between key metrics in order to make informed decisions as a buyer or seller.
First, let’s look at the Months Supply of Inventory, which currently stands at 3.07. This metric represents the number of months it would take to sell all current inventory at the current sales pace. A lower number indicates a seller’s market, while a higher number indicates a buyer’s market.
Next, we see that the 12-Month Change in Months of Inventory is +15.85%. This shows an increase in the number of months it would take to sell all current inventory compared to the previous year. This could be a sign of a shifting market or increased inventory levels.
The Median Days Homes are On the Market is 29, indicating that homes are selling relatively quickly in this market. This could be attributed to high demand or competitive pricing.
The List to Sold Price Percentage is 97.9%, meaning that homes are typically selling very close to their list price. This could indicate strong negotiating skills from both buyers and sellers in this market.
Lastly, the Median Sold Price is $329,950, giving us an idea of the average price at which homes are selling in this market.
Overall, these metrics show a market with moderate inventory levels, quick sales, and homes selling close to their list price. Buyers and sellers should be aware of these trends when making decisions in this 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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