The real estate market is currently experiencing a healthy balance between supply and demand, with a Months Supply of Inventory at 3.84. This indicates that it would take approximately 3.84 months to sell all the existing homes on the market if no new listings were added.
The 12-Month Change in Months of Inventory has seen a slight increase of 0.31%, which suggests a gradual shift towards a more balanced market compared to the previous year. This could be attributed to a combination of factors such as fluctuations in demand, new construction projects, and economic conditions.
With a Median Days Homes are On the Market at 21, properties are selling relatively quickly, indicating strong buyer interest and competition in the market. This also reflects the desirability of homes in the area and the overall efficiency of the selling process.
The Sold to List Price Percentage of 0.98% signifies that homes are typically selling very close to their list price, demonstrating a strong seller’s market where buyers are willing to pay close to asking price for properties. This could be due to limited inventory and high demand driving up prices.
Lastly, the Median Sold Price of $392,250 indicates the average price at which homes are selling in the current market. This figure gives buyers and sellers a general idea of the price range they can expect in the area, helping them make informed decisions.
Overall, these real estate metrics paint a picture of a dynamic and competitive market with favorable conditions for both buyers and sellers. Buyers can expect quick sales and high demand, while sellers can capitalize on the strong market conditions to maximize their returns.
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
