As a professional in the real estate industry, it is crucial to understand the correlation between various key metrics to make informed decisions when buying or selling a property.
The Months Supply of Inventory is currently at 3.65, indicating a balanced market where supply and demand are relatively stable. However, the 12-Month Change in Months of Inventory has increased by +55.32%, suggesting a slight shift towards a buyer’s market over the past year.
Despite this increase in inventory, the Median Days Homes are On the Market remains low at 32 days, indicating that properties are still selling relatively quickly. Additionally, the List to Sold Price Percentage is high at 97.6%, showing that sellers are receiving close to their asking price.
The Median Sold Price for homes in this market is $377,500, reflecting a healthy and stable market where prices are holding steady. Overall, these metrics suggest that it is a good time to buy or sell a property in this market, with a balanced inventory, quick sales, and strong prices.
Buyers can expect to find a variety of options to choose from, while sellers can take advantage of the current market conditions to secure a good price for their property. It is important for both parties to work with a knowledgeable real estate professional to navigate these metrics and make the most of the current market conditions.
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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