The real estate market is currently experiencing a healthy balance between supply and demand, with a months supply of inventory at 3.67. This indicates that it would take approximately 3.67 months to sell all the available homes on the market if no new listings were added.
The 12-month change in months of inventory is showing a slight increase of 0.9%, suggesting a gradual shift towards a more balanced market. This could potentially lead to more negotiating power for buyers as inventory levels increase.
With a median days homes are on the market at just 13 days, this indicates a strong demand for homes in the current market. Sellers can expect their homes to sell relatively quickly, while buyers may need to act fast to secure a property.
The sold to list price percentage is at a high of 0.98%, indicating that homes are selling very close to their listing price. This demonstrates a competitive market where sellers are receiving close to their asking price.
The median sold price of $375,000 suggests that the market is stable and prices are holding steady. Buyers can expect to find homes within this price range, while sellers can feel confident in the value of their property.
Overall, the current real estate market is showing signs of balance and stability, making it a favorable environment for both buyers and sellers. Buyers may find good value in homes that are selling close to their list price, while sellers can expect a relatively quick sale at a competitive price.
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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