The real estate market currently has a Months Supply of Inventory of 4.97, indicating a balanced market where supply and demand are relatively equal. However, there has been a significant increase in the 12-Month Change in Months of Inventory at +25.19%, suggesting a potential shift towards a buyer’s market in the near future.
The Median Days Homes are On the Market is 37, which is relatively low and indicates that properties are selling quickly. This could be due to the List to Sold Price Percentage of 97%, showing that sellers are pricing their homes competitively and buyers are willing to pay close to asking price.
Despite the quick turnaround time, the Median Sold Price is $374,000, reflecting a healthy market with stable prices. Buyers can expect to find a variety of options within this price range, while sellers can feel confident in the value of their properties.
Overall, these metrics paint a picture of a dynamic real estate market with opportunities for both buyers and sellers. Buyers should act quickly to secure a property in this competitive market, while sellers can take advantage of strong demand and favorable pricing conditions.
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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