The real estate market is currently showing a healthy balance between supply and demand, with a months supply of inventory at 2.53. This means that at the current rate of sales, it would take approximately 2.53 months to sell all the available homes on the market.
However, there has been a significant increase in the 12-month change in months of inventory, with a +45.4% change. This could indicate a shift towards a more buyer-friendly market, as more inventory becomes available.
Homes are selling relatively quickly, with a median of 18 days on the market. This suggests that there is strong buyer interest and competition for available properties.
Sellers are also seeing success in achieving their asking prices, with a list to sold price percentage of 97.5%. This means that on average, sellers are receiving 97.5% of their list price when their home sells.
The median sold price in this market is $408,250, indicating that there is demand for homes at this price point. Overall, these metrics suggest a dynamic and competitive real estate market that is favorable for both buyers and sellers.
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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