Attention buyers and sellers in Missouri City, Texas! As a REALTOR with The Houston Suburb Group, I am excited to share the latest market trends data from RPR. Currently, there is only a 2.07 months supply of inventory, which means now is a great time to list your home. Over the last 12 months, the months supply of inventory has increased by 31.01%, indicating a strong seller’s market. Let’s work together to take advantage of these favorable conditions!
MARKET TRENDS ANALYSIS:
As a professional in the real estate industry, it is important to understand the correlation between various real estate metrics. In this case, we are looking at the 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 currently 2.07, which indicates a market that favors sellers. This means that there are only enough homes available to meet the demand of buyers for a little over two months. A low Months Supply of Inventory typically results in higher prices, as there is more competition between buyers.
The 12-Month Change in Months of Inventory is +31.01%. This means that the inventory of homes available for sale has increased by over 31% over the past year. This could be due to various factors, such as an increase in new construction or a decrease in buyer demand.
The Median Days Homes are On the Market is 21, which is a relatively short amount of time. This indicates that homes are selling quickly, likely due to the low Months Supply of Inventory and high demand from buyers.
The List to Sold Price Percentage is 98.1%, which means that homes are selling for very close to their asking price. This further indicates that the market is in favor of sellers, as buyers are willing to pay close to the asking price in order to secure a home in a competitive market.
Finally, the Median Sold Price is $381,500. This is a relatively high price point, which is likely due to the low Months Supply of Inventory and high demand from buyers.
Overall, these metrics paint a picture of a market that favors sellers, with low inventory, high demand from buyers, and homes selling quickly for close to the asking price. Buyers should be prepared to act quickly and potentially pay a premium for a home in this market, while sellers can expect to receive strong offers and potentially sell their home quickly.
We hope you have learned something today about the market updates and trends at Missouri City. 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 Missouri City, 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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