Hi Friends, the real estate market is currently experiencing a low inventory level, with only 1.74 months supply of homes available for sale. This indicates a high demand for housing in the area.
Over the past 12 months, there has been an increase of 17.57% in the months of inventory, suggesting a slight shift towards a more balanced market. This could be due to more homes coming onto the market or a decrease in buyer demand.
Homes are selling quickly in this market, with a median of only 13 days on the market before being sold. This rapid turnover may be attributed to the competitive nature of the market and the high demand for housing.
Sellers are seeing strong offers on their homes, with the list to sold price percentage at 97.8%. This indicates that sellers are able to negotiate close to their asking price, showcasing the strength of the market for sellers.
The median sold price in this market is $415,000, reflecting the overall value of homes in the area. Buyers can expect to pay a competitive price for homes in this market, while sellers can expect to see a strong return on their investment. Overall, this data suggests a dynamic and competitive real estate market that is favorable for both buyers and sellers.
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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