As we analyze the real estate metrics provided, we can see a correlation between the Months Supply of Inventory, the 12-Month Change in Months of Inventory, the Median Days Homes are on the Market, the List to Sold Price Percentage, and the Median Sold Price.
The Months Supply of Inventory is currently at 4.13, indicating a balanced market where the supply of homes for sale is meeting the demand from buyers. However, the 12-Month Change in Months of Inventory has increased by +72.08%, suggesting a potential shift towards a more buyer-friendly market in the near future.
The Median Days Homes are on the Market is 23, which is relatively low and indicates that homes are selling quickly in this market. This is further supported by the List to Sold Price Percentage of 97.5%, showing that sellers are typically able to receive close to their asking price when selling their homes.
Lastly, the Median Sold Price in this market is $370,000, which is a key indicator of the overall health and stability of the real estate market. This figure provides valuable insight for both buyers and sellers in determining the value of properties in the area.
Overall, these metrics paint a picture of a dynamic real estate market with a balanced supply of inventory, quick sales, and strong selling prices. Buyers and sellers alike can use this information to make informed decisions and navigate the market effectively.
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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