Hi Friends. Today, we will be discussing some key real estate metrics that can provide valuable insights into the current market trends. By analyzing these metrics, you can make more informed decisions when it comes to buying or selling a property.
Let’s start by looking at the Months Supply of Inventory, which is currently at 3.38. This metric represents the number of months it would take to sell all the current listings on the market, given the current sales pace. A lower number indicates a seller’s market, where demand exceeds supply, and vice versa. With a supply of 3.38 months, we can conclude that it is currently a seller’s market, as the supply is relatively low compared to the demand.
Now, let’s examine the 12-Month Change in Months of Inventory, which shows a positive growth of 9.39%. This means that the inventory of homes for sale has increased over the past year. It’s important to note that this increase may indicate a shift towards a more balanced market, where supply and demand are more evenly matched.
Moving on, the Median Days Homes are On the Market is 44. This metric provides an indication of how quickly homes are selling. A lower number suggests a high demand for properties, while a higher number may indicate a slower market. With a median of 44 days, we can conclude that homes are selling relatively quickly, which is good news for sellers as it indicates strong buyer interest.
Let’s now discuss the List to Sold Price Percentage, which stands at 97.6%. This metric represents the percentage of the listing price that a home ultimately sells for. A higher percentage indicates that homes are selling close to or above the listing price, which is a positive sign for sellers. With a percentage of 97.6%, we can infer that sellers are receiving offers close to their asking price, which is encouraging for those looking to sell their properties.
Lastly, we have the Median Sold Price, which is currently at $305,000. This metric reflects the middle price point of all the homes that have been sold recently. It gives us a snapshot of the overall price range in the market. With a median sold price of $305,000, we can determine that homes in this market are generally selling at a moderate price point.
In summary, these real estate metrics demonstrate a seller’s market with a relatively low supply of inventory, homes selling quickly, and sellers receiving offers close to their asking price. However, it’s also important to note the increase in inventory over the past year, indicating a potential shift towards a more balanced market. As a buyer or seller, it’s crucial to consider these metrics to navigate the current real estate landscape and make informed decisions.
Thank you for listening, and I hope you found this analysis helpful.
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
