The real estate market is currently showing a healthy balance between supply and demand, with a moderate Months Supply of Inventory at 4.92. This indicates that there is a slightly higher number of homes available for sale compared to the number of buyers in the market.
The stable 12-Month Change in Months of Inventory at 0% suggests that the market has remained relatively consistent over the past year. This can provide a sense of stability for both buyers and sellers, as there are no significant fluctuations in inventory levels.
Homes are selling relatively quickly, with a Median Days on the Market of 38. This means that properties are in demand and buyers are actively searching for homes that meet their criteria. Sellers can expect their homes to move quickly if priced competitively and marketed effectively.
The List to Sold Price Percentage of 94.3% indicates that homes are typically selling close to their listing price. This suggests that sellers are pricing their homes accurately and buyers are willing to pay close to asking price for desirable properties.
With a Median Sold Price of $258,000, buyers and sellers can use this as a benchmark when evaluating the value of homes in the market. This median price point can help both parties make informed decisions when buying or selling a property.
Overall, the current real estate metrics paint a picture of a stable and active market, with properties selling quickly and at prices close to their listing price. Buyers and sellers can use this information to make informed decisions and navigate the market effectively.
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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