Let's delve into the current real estate market metrics to provide you with valuable insights.
Firstly, the Months Supply of Inventory stands at 3.01, indicating a balanced market where supply and demand are relatively equal. However, it is important to note that the 12-Month Change in Months of Inventory has seen a significant increase of +56.77%. This suggests a shift towards a more buyer-friendly market, with an increase in available inventory compared to the previous year.
The Median Days Homes are On the Market is 30, which indicates that homes are selling relatively quickly. This can be attributed to the List to Sold Price Percentage of 98.4%, showing that homes are typically selling close to their listing price. Sellers can be confident in pricing their homes competitively, while buyers may need to act swiftly in making offers.
Lastly, the Median Sold Price currently stands at $312,750. This figure provides a snapshot of the average selling price in the market, giving both buyers and sellers a reference point for property values.
Overall, these metrics paint a picture of a dynamic real estate market with opportunities for both buyers and sellers. Buyers may find more options and potentially negotiate favorable terms, while sellers can capitalize on the relatively quick sales and strong list to sold price percentages.
We hope this analysis has been informative and helpful in navigating the current real estate landscape. If you have any further questions or would like personalized advice, please don't hesitate to reach out.
Thank you for your attention.
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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