Hi Friends, thank you for joining me today as we delve into the fascinating world of real estate metrics. Whether you are a buyer or a seller, understanding these metrics is crucial in navigating the ever-changing market. So, let’s dive right in and explore the correlations between some key real estate indicators.
Firstly, let’s take a look at the Months Supply of Inventory, which currently stands at 3.25. This metric represents the number of months it would take to sell all the available homes on the market if no new properties were listed. A lower number indicates a seller’s market, where demand is high compared to supply.
Now, let’s examine the 12-Month Change in Months of Inventory, which shows a decrease of 7.67%. This decline signifies a positive trend, as it indicates a decrease in the number of months it would take to sell all the available inventory. This could be attributed to factors such as increased buyer demand or a decrease in the number of new listings.
Moving on, we come to the Median Days Homes are On the Market, which currently stands at 58. This metric reveals the average number of days it takes for a home to sell once it is listed. A lower number suggests a more active market, where homes are selling relatively quickly.
Next, we have the List to Sold Price Percentage, which is currently at an impressive 97.4%. This metric indicates the percentage at which the final sale price aligns with the initial listing price. A higher percentage suggests that sellers are receiving offers close to their asking price, which is a positive sign for sellers.
Lastly, we come to the Median Sold Price, which stands at $311,295. This metric represents the midpoint of all the sold prices in a given area. It provides valuable insight into the overall market value of homes in the region.
Now, let’s tie these metrics together. The low Months Supply of Inventory, coupled with the decreasing trend in the 12-Month Change in Months of Inventory, implies that the market is favoring sellers. This is further supported by the high List to Sold Price Percentage, indicating that sellers are receiving offers close to their asking prices.
On the other hand, the relatively low Median Days Homes are On the Market suggests that buyers need to act swiftly in this competitive market. However, the Median Sold Price of $311,295 provides some reassurance to buyers that there is still a range of affordable options available.
In conclusion, the correlation between these real estate metrics paints a picture of a market that is leaning towards sellers. Buyers should be prepared to act quickly and make strong offers, while sellers can expect a higher chance of receiving offers close to their asking prices. As always, it is essential to consult with a real estate professional to fully understand how these metrics impact your specific situation.
Thank you for your attention, and I hope you found this analysis informative and engaging.
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
