Welcome to our analysis of the real estate market. Today, we will be discussing several key metrics that are of great importance to both buyers and sellers – the months supply of inventory, the 12-month change in months of inventory, the median days homes are on the market, the list to sold price percentage, and the median sold price.
Let’s begin by looking at the months supply of inventory, which currently stands at 4.33. This metric indicates the number of months it would take to sell all the available homes on the market if no new listings were added. A lower value suggests a seller’s market, with limited inventory and potentially higher prices.
Now, let’s delve into the 12-month change in months of inventory, which has seen a significant increase of 78.19%. This means that the supply of homes has grown substantially over the past year, which could suggest a shift toward a buyer’s market. Buyers may have more options to choose from and potentially negotiate better deals.
Moving on to the median days homes are on the market, we find that it currently stands at 36. This metric provides valuable insight into the pace at which homes are selling. A lower value indicates a faster-moving market, with homes selling relatively quickly. However, it’s important for sellers to note that this number can vary depending on factors such as location, price range, and market conditions.
Let’s now discuss the list of sold price percentages, which currently sits at a respectable 98.1%. This metric reveals the percentage of the listing price that sellers are able to achieve when their homes are sold. A higher percentage suggests that sellers are able to negotiate deals close to their asking prices, highlighting a market where buyers are willing to meet the sellers’ expectations.
Lastly, we come to the median sold price, which currently stands at $299,945. This figure represents the midpoint of all the sold prices in the market. It is worth noting that the median sold price can be influenced by various factors, including the mix of properties sold, location, and overall market conditions.
In conclusion, we have examined several crucial real estate metrics that provide valuable insights for both buyers and sellers. The months supply of inventory, the 12-month change in months of inventory, the median days homes are on the market, the list to-sold price percentage, and the median sold price all play a role in shaping the dynamics of the real estate market. By understanding these metrics, buyers can make informed decisions about when and what to buy, while sellers can gauge market conditions and set realistic expectations. Thank you for joining us today, and we hope this analysis has been both informative and engaging.
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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