The real estate market is currently showing a moderate level of inventory, with a Months Supply of Inventory at 5.52. This means that it would take approximately 5.52 months to sell all the current inventory of homes on the market.
The 12-Month Change in Months of Inventory has increased by +28.97%, indicating a slight shift towards a buyer's market. This increase in inventory could potentially lead to more options for buyers and potentially lower prices.
Homes are spending a relatively short amount of time on the market, with a Median Days Homes are On the Market at 45. This suggests that homes are selling quickly, which could be attributed to high demand in the market.
Sellers are seeing a strong List to Sold Price Percentage of 97.5%, indicating that homes are generally selling close to their list price. This could be a positive sign for sellers in terms of receiving close to their asking price.
The Median Sold Price in this market is $309,392, showing a healthy median price point for homes. This data suggests that there is stability in the market in terms of pricing.
Overall, this data indicates a balanced real estate market with moderate inventory levels, quick sales, and strong list to sold price percentages. Both buyers and sellers may find opportunities in this market, with potential for good returns on investment.
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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The Ultimate Home Seller's Guide
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