The real estate market currently has a months supply of inventory at 3.31, indicating a balanced market where neither buyers nor sellers have a significant advantage. However, there has been a notable increase in the 12-month change in months of inventory, with a surge of +42.67%. This increase could potentially signal a shift towards a buyer’s market in the near future.
Despite this increase in inventory, homes are still selling relatively quickly, with a median of only 20 days on the market. This quick turnover may be attributed to the high sold to list price percentage of 93.2%, indicating that sellers are receiving close to their asking price.
The median sold price of $252,500 reflects the current market conditions, with prices remaining relatively stable. Buyers can take advantage of the balanced market and increased inventory to find a home that meets their needs, while sellers can benefit from the quick turnaround and high list price percentage.
Overall, these metrics suggest a dynamic and evolving real estate market that offers opportunities for both buyers and sellers. It’s important for all parties to stay informed and work with a knowledgeable real estate professional to navigate these changing conditions successfully.
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
