Hi Friends, when analyzing the real estate market, it is important to consider various metrics that can provide valuable insights for both buyers and sellers. One key metric to look at is the Months Supply of Inventory, which currently stands at a low 1.56. This indicates a high demand for properties in the market, potentially leading to increased competition among buyers.
Furthermore, the 12-Month Change in Months of Inventory shows a significant decrease of -6.59%, suggesting a trend of decreasing inventory levels over the past year. This could potentially drive up prices as buyers compete for limited available properties.
In terms of market activity, the Median Days Homes are On the Market is a short 21 days, indicating that properties are selling quickly. This could be attributed to the high demand and low inventory levels in the market.
When it comes to pricing, the List to Sold Price Percentage is a strong 97.7%, indicating that sellers are able to achieve close to their asking price. This could be due to the competitive market conditions and high demand for properties.
Lastly, the Median Sold Price in this market is $389,000, reflecting the current pricing trend in the area. Overall, these metrics suggest a market with low inventory levels, high demand, quick sales, and strong pricing. Buyers may need to act fast and be prepared to make competitive offers, while sellers may have an advantage in achieving their desired sale 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.
Download our FREEBIES here!
The Ultimate Home Buyer’s Guide
The Ultimate Home Seller’s Guide
Find us on YouTube!
#jenniferyoingcorealtor #jenniferyoingco #JenniferYoingcoTexas #houstonsuburb #houstonsuburbs #houstonsuburbgroup #texasrelocationexperts #HoustonRelocationExpert #HoustonRelocationSpecialist #NurseRelocationExpert #NurseRelocationSpecialist #newhomeconstruction #thehighlands #ravennahomes #ravennahomesforsale #ravennahomesrealtor #ravennahomesrealestateagent #springtexas #tomballtexas #livinginhoustontexas #livinginhouston #thewoodlandstexas #conroetexas #montgomerytexas #cypresstexas #newcaneytexas #portertexas #katytexas #pearlandtexas #richmondtexas #fulsheartexas #sugarlandtexas #houstontexas #magnoliatexas #hockleytexas #pinehursttexas #jerseyvillagetexas #humbletexas
