When analyzing the current real estate market, several key metrics provide valuable insights for both buyers and sellers.
First, the Months Supply of Inventory stands at 5.68, indicating a balanced market where supply and demand are relatively stable. However, it is important to note that there has been a significant increase in the 12-Month Change in Months of Inventory, with a 60% uptick. This suggests a potential shift towards a buyer’s market in the near future.
The Median Days Homes are On the Market is 42, indicating that properties are selling relatively quickly. This, combined with the Sold to List Price Percentage of 97.3%, demonstrates strong buyer interest and competition in the market.
Lastly, the Median Sold Price of $355,000 reflects the current value of homes in the area. Buyers can use this information to gauge affordability, while sellers can leverage this data to determine a competitive listing price.
Overall, these metrics paint a picture of a dynamic real estate market with opportunities for both buyers and sellers. With a balanced inventory, quick sales, and strong buyer interest, now may be a favorable time to make a move in the housing market.
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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