The real estate market is currently experiencing a tight inventory with only 2.67 months supply available. This means that there is a high demand for homes compared to the available supply, which could potentially lead to higher selling prices for sellers.
The 12-month change in months of inventory is showing a decrease of 7.61%, indicating that the market has become even more competitive over the past year. This trend suggests that buyers may need to act quickly when a desirable property becomes available.
Homes are spending a median of 55 days on the market before being sold, which is relatively fast in a competitive market. This quick turnover time reflects the demand for houses and the urgency for buyers to make decisions swiftly.
Sellers are seeing a high list to sold price percentage of 96%, meaning that they are able to sell their homes for close to their asking price. This is a positive indicator for sellers, as it shows that they have some negotiating power in the current market.
The median sold price for homes is $775,135, reflecting the overall strength of the real estate market in the area. Buyers should be prepared to make competitive offers in order to secure a property in this market.
In conclusion, the current real estate market is characterized by low inventory, quick turnover times, high list to sold price percentages, and increasing home prices. Both buyers and sellers should be aware of these trends and be prepared to act swiftly in order to achieve their real estate goals.
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.
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
