As a real estate professional, it is important to understand how various metrics can provide insight into the current market conditions. Let’s delve into the correlation between the following real estate metrics to paint a clearer picture for both buyers and sellers.
Firstly, the Months Supply of Inventory is 5.28, indicating the number of months it would take to sell all the current listings at the current sales pace. A lower number typically suggests a seller’s market, where demand exceeds supply.
The 12-Month Change in Months of Inventory is +48.73%, showing a significant increase in inventory over the past year. This could indicate a shift towards a more balanced market, providing buyers with more options to choose from.
The Median Days Homes are On the Market is 53, suggesting that properties are selling relatively quickly. This could be attributed to the high demand and limited inventory in the market.
The Sold to List Price Percentage is 96.3%, indicating that homes are typically selling close to their asking price. This could be a result of competitive bidding and strong buyer interest in the market.
Lastly, the Median Sold Price is $355,000, providing insight into the average price at which homes are selling. This figure can help both buyers and sellers understand the current market value of properties in the area.
In summary, the correlation between these real estate metrics paints a picture of a market with limited inventory, strong demand, and competitive pricing. Buyers may need to act quickly to secure a property, while sellers may find themselves in a favorable position to maximize their returns. It is important for both parties to stay informed and work with a knowledgeable real estate professional to navigate these market conditions 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.
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
