The real estate market is currently experiencing a healthy balance between supply and demand, with the Months Supply of Inventory at 4.69. This means that at the current rate of sales, it would take approximately 4.69 months for all the available homes on the market to be sold.
The 12-Month Change in Months of Inventory is showing a decrease of -8.58%, indicating that the market is becoming more competitive for buyers. This could lead to increased competition and potentially higher prices for sellers.
The Median Days Homes are On the Market is 38, which is relatively low and suggests that homes are selling quickly in this market. This could be due to high demand and limited inventory.
The List to Sold Price Percentage is at a strong 95.7%, showing that homes are typically selling very close to their listing price. This is a positive sign for sellers, indicating that they are likely to receive a good return on their investment.
Finally, the Median Sold Price of $1,741,900 is a reflection of the current market conditions and the overall value of homes in this area. This is important information for both buyers and sellers to consider when making decisions in the real estate market.
Overall, these metrics paint a picture of a competitive market with limited inventory, high demand, and strong selling prices. Buyers and sellers should be prepared for quick sales and potentially higher prices in this market.
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.
The Ultimate Home Buyer's Guide
The Ultimate Home Seller's Guide
#jenniferyoingcorealtor #jenniferyoingco #JenniferYoingcoTexas #houstonsuburb #houstonsuburbs #houstonsuburbgroup #texasrelocationexperts #HoustonRelocationExpert #HoustonRelocationSpecialist #NurseRelocationExpert #NurseRelocationSpecialist #newhomeconstruction #thehighlands #ravennahomes #ravennahomesforsale #ravennahomesrealtor #ravennahomesrealestateagent #springtexas #tomballtexas #livinginhoustontexas #livinginhouston #thewoodlandstexas #conroetexas #montgomerytexas #cypresstexas #newcaneytexas #portertexas #katytexas #pearlandtexas #richmondtexas #fulsheartexas #sugarlandtexas #houstontexas #magnoliatexas #hockleytexas #pinehursttexas #jerseyvillagetexas #humbletexas
If you enjoyed this post, please consider sharing it with others. 
items