These real estate metrics provide valuable insights into the current market conditions for both buyers and sellers.
The Months Supply of Inventory is a key indicator of market activity, with a level of 4.2 indicating a balanced market where supply and demand are relatively equal. However, the 12-Month Change in Months of Inventory shows an increase of +54.41%, suggesting a potential shift towards a buyer’s market with an increase in available inventory.
The Median Days Homes are On the Market at 45 days indicates that properties are selling relatively quickly in this market. This, combined with the Sold to List Price Percentage of 96.9%, demonstrates strong buyer demand and competition among buyers for available properties.
The Median Sold Price of $350,000 reflects the average price at which homes are selling in this market. This information can be valuable for both buyers and sellers in determining pricing strategies and negotiating offers.
Overall, these metrics suggest a competitive market with a balanced supply of inventory, quick turnover of properties, and strong buyer demand. Buyers should be prepared to act quickly and make strong offers, while sellers can take advantage of the current market conditions to potentially achieve a higher selling price.
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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