The real estate market is currently experiencing a moderate level of inventory with a Months Supply of Inventory at 3.54. This indicates that at the current pace of sales, it would take approximately 3.54 months to sell all available homes on the market.
Looking at the 12-Month Change in Months of Inventory, we see a significant increase of +71.84%. This suggests that inventory levels have risen over the past year, leading to a more competitive market for buyers.
Despite the increase in inventory, homes are selling relatively quickly with a Median Days on Market of 22. This indicates that there is still strong demand for homes in the area, resulting in quick sales for sellers.
Furthermore, sellers are seeing a high level of success in terms of pricing, with a List to Sold Price Percentage of 100.5%. This means that, on average, homes are selling for slightly above their list price, indicating a strong seller’s market.
The Median Sold Price of $405,000 reflects the current market value of homes in the area, showing stability and potential for growth. Overall, the data suggests a balanced market with opportunities for both buyers and sellers to make successful transactions.
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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