As of the latest data available, the real estate market is showing some interesting trends that both buyers and sellers should take note of.
The Months Supply of Inventory stands at 3.75, indicating a balanced market where neither buyers nor sellers have a significant advantage. However, the 12-Month Change in Months of Inventory has seen a substantial increase of +71.23%, suggesting a shift towards a more buyer-friendly market in the near future.
Median Days Homes are On the Market is a quick 24 days, indicating high demand and a competitive market for sellers. This is further supported by the List to Sold Price Percentage of 97.9%, showing that homes are selling close to their asking price.
The Median Sold Price of $305,000 is a good indicator of the current market value of homes in the area. Buyers should be prepared to make competitive offers, while sellers can expect to receive a fair price for their properties.
Overall, the data suggests a dynamic real estate market with opportunities for both buyers and sellers. It is important for both parties to stay informed and work with a knowledgeable real estate professional to navigate these market conditions effectively.
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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