The real estate market is currently showing a healthy balance between supply and demand, with a Months Supply of Inventory at 4.55. This means that at the current rate of sales, it would take approximately 4.55 months to sell all the homes on the market.
The 12-Month Change in Months of Inventory is at a negative 4.41%, indicating a decrease in available inventory over the past year. This could potentially lead to increased competition among buyers and higher prices for sellers.
The Median Days Homes are On the Market is 64, which suggests that homes are selling relatively quickly in this market. This could be attributed to the low inventory levels and high demand.
The Sold to List Price Percentage is at a strong 97.7%, indicating that homes are generally selling close to their list price. This could be a positive sign for sellers in terms of receiving offers close to their asking price.
Lastly, the Median Sold Price is $304,677, which gives buyers and sellers an idea of the current market value for homes in this area. Overall, these metrics suggest a market that is favorable for both buyers and sellers, with a good balance between supply and demand leading to relatively quick sales and strong prices.
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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