In the real estate market, there are several key metrics that buyers and sellers should pay attention to. These metrics provide valuable insights into the dynamics of the market and can help inform decisions related to buying or selling a property. Let's dive into the correlation between some of these metrics to better understand the current state of the market.

Firstly, let's look at the "Months Supply of Inventory" metric, which currently stands at 3.15. This metric represents the number of months it would take to sell all the homes currently on the market, assuming no new listings are added. A lower number indicates a seller's market, where demand exceeds supply, while a higher number suggests a buyer's market, where supply outpaces demand.

Now, let's consider the "12-Month Change in Months of Inventory," which shows a significant increase of +20.69%. This change indicates that the supply of homes on the market has increased over the past year. This could suggest a shift towards a buyer's market or a slowdown in demand, potentially giving buyers more options and negotiating power.

Another important metric to consider is the "Median Days Homes are On the Market," which currently stands at 53. This figure represents the average number of days it takes for a home to sell once it is listed. A lower number suggests a faster-paced market with high demand, while a higher number indicates a slower market with fewer buyers. In this case, 53 days is relatively moderate, indicating a balanced market where buyers and sellers have relatively equal bargaining power.

Moving on, the "List to Sold Price Percentage" is an essential metric for sellers. At 97.8%, this percentage signifies that, on average, homes are selling for approximately 97.8% of their list price. A higher percentage suggests that sellers are receiving offers closer to their asking price, which can indicate strong buyer competition and a seller's market.

Lastly, we have the "Median Sold Price" of $455,000. This metric represents the middle point of all the sold prices within a given time period. It is important for both buyers and sellers to be aware of the median sold price in their area, as it provides a general idea of the market's price range. In this case, the median sold price is $455,000, suggesting that this is the midpoint for home prices in the current market.

When we examine these metrics together, we can see some interesting correlations. The increase in the months supply of inventory suggests a potential shift towards a buyer's market or a slowdown in demand. This is further supported by the relatively moderate median days homes are on the market, indicating a balanced market. However, the list to sold price percentage remains high, indicating that sellers are still getting offers close to their asking price.

For buyers, these metrics suggest that there are more options available with a potentially reduced level of competition. This could provide an opportunity to negotiate better deals and potentially find a home closer to their desired price range.

On the other hand, sellers should be mindful of the increase in supply and adjust their pricing and marketing strategies accordingly. While homes are still selling at a high percentage of their list price, it may be necessary for sellers to be realistic with their pricing expectations to attract potential buyers in a slightly more competitive market.

In conclusion, understanding these real estate metrics provides valuable insights for both buyers and sellers. By considering the months supply of inventory, the change in inventory over time, the median days homes are on the market, the list to sold price percentage, and the median sold price, individuals can make more informed decisions in the real estate market.
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