Are you curious about the current market trends in Spring, Texas? Look no further! With a 1.51 Months Supply of Inventory, a +69.66% increase in the past 12 months, and a List to Sold Price percentage of 98.9%, it’s clear that our market is on the rise.
MARKET TRENDS ANALYSIS:
As we analyze the real estate metrics, we can see a correlation between them that can help us understand the current market conditions. Let’s dive into it.
The Months Supply of Inventory, which is the amount of time it would take for all the homes on the market to sell, is currently at 1.51. This indicates a strong seller’s market, where the demand for homes exceeds the supply.
However, the 12-Month Change in Months of Inventory has increased by 69.66%, showing a trend towards a more balanced market. This increase in inventory could be due to various factors such as new construction, an increase in homeowners deciding to sell, or a decrease in demand.
The Median Days Homes are On the Market is 14, indicating that homes are selling quickly. This is likely due to the high demand and low inventory, causing buyers to act fast when they find a home they like.
The List to Sold Price Percentage is 98.9%, indicating that homes are selling very close to their asking price. This is a positive sign for sellers and shows that buyers are willing to pay the asking price due to the high demand.
Finally, the Median Sold Price is $318,000, indicating a strong market with increasing home values. This is good news for sellers, as they can expect to receive a higher price for their home.
In summary, the real estate metrics show a strong seller’s market with high demand and low inventory, causing homes to sell quickly and at or close to their asking price. However, the increase in inventory over the past 12 months shows a trend toward a more balanced market, which could benefit buyers in the future. As always, it’s important to work with a professional real estate agent to navigate the market and make informed decisions.
We hope you have learned something today about the market updates and trends at Spring. 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, 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.
Download our FREEBIES here!
The Ultimate Home Buyer’s Guide
The Ultimate Home Seller’s Guide
Find us on YouTube!
#jenniferyoingcorealtor #jenniferyoingco #JenniferYoingcoTexas #houstonsuburb #houstonsuburbs #houstonsuburbgroup #texasrelocationexperts #HoustonRelocationExpert #HoustonRelocationSpecialist #NurseRelocationExpert #NurseRelocationSpecialist #newhomeconstruction #thehighlands #ravennahomes #ravennahomesforsale #ravennahomesrealtor #ravennahomesrealestateagent #springtexas #tomballtexas #livinginhoustontexas #livinginhouston #thewoodlandstexas #conroetexas #montgomerytexas #cypresstexas #newcaneytexas #portertexas #katytexas #pearlandtexas #richmondtexas #fulsheartexas #sugarlandtexas #houstontexas #magnoliatexas #hockleytexas #pinehursttexas #jerseyvillagetexas #humbletexas
