The real estate market is currently showing a healthy balance between supply and demand, with a months supply of inventory at 4.17. This means that it would take approximately 4.17 months to sell all the current inventory of homes on the market if no new listings were added.
The 12-month change in months of inventory has increased by 1.27%, indicating a slight uptick in inventory levels over the past year. This could be due to an increase in new listings or a decrease in buyer demand.
Homes are selling quickly, with a median of only 16 days on the market. This suggests that there is strong buyer interest in the market and homes are moving swiftly when priced correctly.
The sold to list price percentage is at 0.98%, indicating that homes are selling close to their asking price. This could be a sign of a competitive market where sellers are pricing their homes accurately and buyers are willing to pay close to the list price.
The median sold price in the market is $476,800, showing that homes are selling at a relatively high price point. This could be a reflection of the overall strength of the market and the value of properties in the area.
Overall, these metrics paint a picture of a balanced and active real estate market, with strong buyer demand, quick sales, and homes selling close to their asking price. Buyers and sellers should be prepared for a competitive market and work with a professional real estate agent to navigate these conditions successfully.
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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