As we analyze the current real estate market data, we can see a correlation between several key metrics that are important for both buyers and sellers to understand.
Firstly, the Months Supply of Inventory is currently at 7.16, indicating the number of months it would take to sell all the existing homes on the market if no new listings were added. This number is crucial for buyers as it shows the level of competition they may face in finding a home.
The 12-Month Change in Months of Inventory is at +13.83%, indicating an increase in inventory over the past year. This is beneficial for buyers as it suggests more options to choose from and potentially less competition.
The Median Days Homes are On the Market is 77, showing the average amount of time it takes for a home to sell. This is important for sellers as it gives them an idea of how long their property may be on the market before finding a buyer.
The Sold to List Price Percentage is at 97.3%, indicating that homes are typically selling very close to their list price. This is valuable information for both buyers and sellers as it gives insight into the negotiating power in the current market.
Lastly, the Median Sold Price is $627,400, providing an idea of the average price at which homes are selling. This figure is crucial for both buyers and sellers to understand the current market value of properties.
In summary, the data suggests a balanced real estate market with a reasonable level of inventory, a moderate amount of time homes are on the market, and homes selling close to their list price. This information can help both buyers and sellers make informed decisions in the current market conditions.
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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