Attention Spring Branch buyers and sellers! Did you know that currently, there are only 4 months of inventory available? That’s a decrease from the previous year, where we saw an increase of 81% in Months Supply of Inventory. As a REALTOR®, The Houston Suburb Group has access to RPR’s Market Trends data to keep you informed on the current market trends. Let’s work together to make informed decisions for your real estate needs.
MARKET TRENDS ANALYSIS:
As a professional in the real estate industry, it is important to understand the correlations between various metrics in order to make informed decisions when buying or selling a property. Let’s take a closer look at the data provided.
Firstly, the Months Supply of Inventory is currently at 4. This metric measures how long it would take for all current listings to sell if no new listings were added. A low number indicates a seller’s market, where there are more buyers than available homes. In this case, a 4-month supply suggests a strong demand for homes in the area.
However, the 12-Month Change in Months of Inventory has increased by 81%. This means that the supply of homes has increased significantly over the past year, indicating a shift towards a buyer’s market. This could be due to a variety of factors such as an increase in new home construction or a decrease in demand.
Despite this increase in supply, the Median Days Homes are On the Market is a relatively low 41 days. This suggests that homes are selling quickly and that there is still a high demand in the market. It is important to note that this metric can vary widely based on location, price range, and other factors.
The List to Sold Price Percentage is at 98.4%, indicating that homes are selling very close to their asking price. This suggests that sellers are pricing their homes appropriately and that buyers are willing to pay the asking price. However, it is important to note that this metric can vary based on the negotiation skills of the buyer and seller.
Finally, the Median Sold Price is $440,000. This indicates the midpoint of all home prices sold in the area. It is important to note that this metric can vary widely based on location, size, and other factors.
Overall, these metrics suggest a market with a high demand for homes, but with a recent increase in supply. Homes are selling quickly and for close to their asking price, indicating a well-balanced market. However, it is important for buyers and sellers to be aware of the recent increase in supply and to adjust their expectations accordingly.
We hope you have learned something today about the market updates and trends at Spring Branch. 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 Spring Branch, 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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