As we analyze the real estate metrics for the current market, we can see a correlation between the Months Supply of Inventory, the 12-Month Change in Months of Inventory, the Median Days Homes are On the Market, the List to Sold Price Percentage, and the Median Sold Price.
The Months Supply of Inventory is currently at 3.46, indicating a balanced market where neither buyers nor sellers have a significant advantage. However, the 12-Month Change in Months of Inventory has increased by +58.72%, suggesting a shift towards a more buyer-friendly market with more inventory available.
Despite this increase in inventory, the Median Days Homes are On the Market is relatively low at 33 days. This suggests that homes are selling quickly, likely due to the List to Sold Price Percentage being high at 98.1%. Sellers are achieving a high percentage of their asking price, indicating strong demand and competition among buyers.
Additionally, the Median Sold Price is $313,000, showing a healthy and stable market with prices holding steady. Buyers can expect to find reasonable prices while sellers can still achieve a good return on their investment.
Overall, these metrics paint a picture of a market that is balanced yet competitive, with homes selling quickly and at high prices. Buyers can expect to find a good selection of inventory, while sellers can capitalize on strong demand and favorable selling 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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