As a real estate professional, it is important to understand how various metrics in the market are interconnected and how they can provide valuable insights for both buyers and sellers.
The Months Supply of Inventory is a key indicator of market trends and shows the balance between supply and demand. With a value of 7.76, this suggests that there is a healthy inventory of homes available for sale in the market.
The 12-Month Change in Months of Inventory, which has increased by +90.66%, indicates a shift towards a higher level of inventory compared to the previous year. This could signify a potential slowdown in the market or an increase in available housing options for buyers.
The Median Days Homes are On the Market at 31 days indicates that homes are selling relatively quickly in this market. This could be attributed to a strong demand from buyers or competitive pricing strategies from sellers.
The List to Sold Price Percentage of 98.1% demonstrates that homes are typically selling very close to their listing price. This suggests that sellers are pricing their homes effectively and buyers are willing to pay close to the asking price.
Finally, the Median Sold Price of $499,990 provides insight into the average price point of homes that are selling in the market. This information can be valuable for both buyers and sellers in determining the value of properties and making informed decisions.
Overall, these metrics paint a picture of a market with a healthy inventory, quick sales, competitive pricing, and a stable median price point. Buyers and sellers can use this data to navigate the market effectively and make informed decisions when buying or selling a home.
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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