Looking to sell your home in River Oaks? According to RPR’s Market Trends data, the List to Sold Price percentage is at an impressive 94.4%! Contact me today to discuss how you can take advantage of this market trend.
MARKET TRENDS ANALYSIS:
As a real estate professional, it’s important to understand the various metrics that can affect the buying and selling process. Let’s take a closer look at the correlation between a few key metrics: Months Supply of Inventory, 12-Month Change in Months of Inventory, Median Days Homes are On the Market, List to Sold Price Percentage, and Median Sold Price.
The Months Supply of Inventory metric indicates how long it would take for all current listings to sell if no new listings were added. In this case, the Months Supply of Inventory is 3.69, which is considered a relatively low supply of homes on the market. This suggests that demand for homes is high and that buyers may need to act quickly to secure a home.
The 12-Month Change in Months of Inventory metric indicates how much the supply of homes on the market has changed over the past year. In this case, the change is -3.15%, which means that the supply of homes on the market has decreased over the past year. This further supports the idea that demand for homes is high.
The Median Days Homes are On the Market metric indicates how long homes typically stay on the market before they sell. In this case, the median is 39 days, which is considered a relatively short amount of time. This suggests that homes are selling quickly and that buyers may need to act fast to make an offer.
The List to Sold Price Percentage metric indicates how much homes are selling for in relation to their list price. In this case, the percentage is 94.4%, which means that homes are selling for roughly 94% of their list price. This suggests that sellers may need to price their homes competitively in order to attract buyers.
Finally, the Median Sold Price metric indicates the middle price point of all homes that have sold in the area. In this case, the median sold price is $1,826,500, which is relatively high. This suggests that the market may be more geared towards luxury homes or that the area is in high demand.
Overall, these metrics suggest that the real estate market in this area is currently in favor of sellers, with low inventory, high demand, and homes selling quickly at competitive prices. Buyers may need to act quickly and be prepared to make competitive offers in order to secure a home.
We hope you have learned something today about the market updates and trends at River Oaks. If you have any questions, reach out to our Houston Suburb Group, and our expert REALTOR® is here if you need help with the market trends and updates in River Oaks, so you can get ready to EXPERIENCE LIVING IN HOUSTON, TEXAS!
Source: RPR
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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