The real estate market is currently experiencing a healthy level of inventory with a Months Supply of Inventory at 3.75. This indicates that it would take approximately 3.75 months to sell all the homes currently on the market if no new listings were added.
The 12-Month Change in Months of Inventory has increased by +57.56%, suggesting a slight increase in inventory levels over the past year. This could be attributed to more homes coming onto the market or a decrease in demand.
The Median Days Homes are On the Market is 30, indicating that homes are selling relatively quickly. This is a positive sign for sellers as it shows there is strong demand in the market.
The List to Sold Price Percentage is 97.6%, meaning that homes are typically selling for close to their list price. This suggests that sellers are pricing their homes competitively and buyers are willing to pay close to asking price.
The Median Sold Price is $302,500, indicating the midpoint of home prices in the market. This can be used as a benchmark for both buyers and sellers to determine the value of a property.
Overall, these metrics show a balanced real estate market with strong demand, quick sales, and competitive pricing. Buyers and sellers can use this information to 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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