As a real estate professional, it is important to understand the correlation between various metrics in order to provide valuable insights to both buyers and sellers. In analyzing the data provided, we can see that there is a significant increase in the months supply of inventory, with a 12-month change of +82%. This indicates that there are more homes available on the market compared to the previous year.
Despite this increase in inventory, the median days homes are on the market is only 7, suggesting that properties are selling quickly. This can be attributed to the high list to sold price percentage of 98.5%, indicating that sellers are pricing their homes competitively and buyers are willing to pay close to the asking price.
Furthermore, the median sold price of $696,750 shows a healthy market where properties are selling at a good value. Buyers can take advantage of the increased inventory to find their dream home, while sellers can capitalize on the quick sales and high list to sold price percentage.
In conclusion, the correlation between these real estate metrics paints a picture of a dynamic market with opportunities for both buyers and sellers. By understanding these trends, individuals can make informed decisions when it comes to buying or selling a property.
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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