As a real estate professional, it is important to understand the correlation between key metrics in the market to provide valuable insights to buyers and sellers.
The Months Supply of Inventory, which currently stands at 6 months, indicates the balance between supply and demand in the market. A higher number suggests a buyer’s market, while a lower number indicates a seller’s market.
The 12-Month Change in Months of Inventory, showing an increase of +29.87%, suggests that the market is experiencing a shift towards more inventory becoming available compared to the previous year. This could potentially lead to more options for buyers and increased competition among sellers.
The Median Days Homes are On the Market, at 91 days, reflects the average amount of time it takes for a home to sell. A lower number typically indicates a faster-moving market, while a higher number may suggest properties are taking longer to sell.
The List to Sold Price Percentage, at 94.7%, indicates the average percentage that homes are selling for compared to their listing price. A higher percentage suggests that homes are selling close to their asking price, which can be a positive indicator for sellers.
Lastly, the Median Sold Price of $1,253,500 represents the midpoint of all home sales in the market. This figure can provide buyers and sellers with a benchmark for pricing their properties or making offers on homes.
Overall, these metrics paint a picture of a market with balanced inventory levels, increasing supply, a moderate time on market, strong list to sold price percentages, and a healthy median sold price. Buyers and sellers can use this information 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.
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
