Willis, Texas has seen a significant increase in market trends over the last 12 months. The Months Supply of Inventory has increased by +98.54%. This means that more homes have been listed on the market, which is great news for buyers. Contact me to learn more about the current market and how it may affect your home search.
MARKET TRENDS ANALYSIS:
As we evaluate the real estate market, we can see that there is a strong correlation between the different metrics we have available.
Firstly, let’s look at the Months Supply of Inventory, which is currently at 4.07. This metric refers to the number of months it would take to sell all the homes currently available on the market. A healthy market typically has around 6 months of inventory, so this indicates that we are currently experiencing a seller’s market.
However, it’s important to look at the 12-Month Change in Months of Inventory, which has increased by +98.54%. This means that there has been a significant increase in the number of homes available for sale over the past year, giving buyers more options to choose from.
Moving on to the Median Days Homes are On the Market, which currently stands at 32. This indicates that homes are selling quickly, with buyers eager to snap up available properties.
Next, let’s consider the List to Sold Price Percentage, which is currently at 98%. This metric refers to the percentage of the original list price that the home sells for. A high percentage like this suggests that homes are selling close to their asking price, indicating a strong market for sellers.
Finally, we have the Median Sold Price, which is currently at $333,750. This represents the midpoint of all the homes sold in the area over a certain period. This is a healthy median price point, indicating a good balance between affordability and value.
In conclusion, these metrics suggest that the current real estate market is strong, with a seller’s advantage due to low inventory levels. However, the increase in available homes over the past year is giving buyers more options to choose from. Homes are selling quickly and close to their asking price, indicating a healthy market for both buyers and sellers.
We hope you have learned something today about the market updates and trends at Willis. If you have any questions, reach out to our Houston Suburb Group, and our expert REALTOR® is here if you need help with the market trends and updates in Willis, so you can get ready to EXPERIENCE LIVING IN HOUSTON, TEXAS!
Source: RPR
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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