In analyzing the real estate metrics provided, we can see a correlation between the Months Supply of Inventory, the 12-Month Change in Months of Inventory, the Median Days Homes are On the Market, the List to Sold Price Percentage, and the Median Sold Price.
The Months Supply of Inventory at 3.77 indicates that there is a balanced market where supply and demand are relatively in equilibrium. However, the 12-Month Change in Months of Inventory increasing by +35.13% shows a trend towards more inventory becoming available, potentially leading to a shift towards a buyer’s market in the future.
The Median Days Homes are On the Market at 38 days suggests that homes are selling relatively quickly in this market. This is further supported by the List to Sold Price Percentage at 97.3%, indicating that homes are generally selling close to their list price.
Lastly, the Median Sold Price of $344,965 provides insight into the market’s pricing trends, showing the general value of homes in this area.
Overall, these metrics suggest a market that is balanced with relatively quick sales and homes selling close to their list price. The increase in inventory over the past year may lead to more options for buyers in the future, potentially impacting pricing and market dynamics. Buyers and sellers should keep an eye on these trends to make informed decisions in the real estate 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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