Attention Kingwood buyers and sellers! As a REALTOR with The Houston Suburb Group, we are excited to share that there is currently only 1.39 months supply of inventory in our area. Additionally, over the last 12 months, the months supply of inventory has increased by +120.63%. Contact me today to learn how this can impact your buying or selling strategy.
MARKET TRENDS ANALYSIS:
As a real estate professional, it is essential to understand the correlation between various metrics in the industry. Buyers and sellers alike should be aware of these metrics to make informed decisions. Let’s look at the correlation between the following real estate metrics: Months Supply of Inventory, 12-Month Change in Months of Inventory, Median Days Homes are On the Market, List to Sold Price Percentage, and Median Sold Price.
The Months Supply of Inventory is a crucial metric that measures the number of months it would take for all the current listings on the market to sell, assuming no new listings come on the market. A lower number indicates a seller’s market, while a higher number indicates a buyer’s market. In this case, the Months Supply of Inventory is 1.39, indicating an extreme seller’s market in the area.
The 12-Month Change in Months of Inventory measures the percentage change in Months Supply of Inventory from the previous year. In this case, the 12-Month Change in Months of Inventory is +120.63%, indicating a significant increase in inventory compared to the previous year. However, it is essential to note that this increase is from a very low starting point, and the market remains a strong seller’s market.
The Median Days Homes are On the Market is a crucial metric that measures the average number of days a home is on the market before it gets sold. A lower number indicates a hot market, while a higher number indicates a slower market. In this case, the Median Days Homes are On the Market is only 7, indicating a highly active and fast-paced market.
The List to Sold Price Percentage is a metric that measures how close the final sale price is to the original list price. A percentage close to 100% indicates that homes are selling close to their list price, while a lower number indicates that homes are selling below the original list price. In this case, the List to Sold Price Percentage is 98.7%, indicating that homes are selling very close to the original list price.
Finally, the Median Sold Price is the median price of all homes sold in the area over a specific period. In this case, the Median Sold Price is $385,000, indicating a healthy and robust real estate market.
Overall, these metrics indicate a highly active and competitive real estate market, with a low Months Supply of Inventory and a high List to Sold Price Percentage. These metrics are essential for buyers and sellers to consider when making real estate decisions in the area.
We hope you have learned something today about the market updates and trends at Kingwood. If you have any questions, reach out to our Houston Suburb Group, and our expert REALTOR® is here if you need help with the market trends and updates in Kingwood, so you can get ready to EXPERIENCE LIVING IN HOUSTON, TEXAS!
Source: RPR
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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