Hello, potential buyers and sellers! Let's dive into some key real estate metrics to help you better understand the current market trends.
First off, the Months Supply of Inventory is at 3.36. This means that at the current rate of sales, it would take approximately 3.36 months to sell all the available homes on the market. A lower number typically indicates a seller's market, where demand outweighs supply.
Now, let's talk about the 12-Month Change in Months of Inventory, which has increased by +33.33%. This suggests that the market is experiencing a slight shift towards a more balanced or even buyer-friendly market, as inventory levels have increased over the past year.
Next, the Median Days Homes are On the Market is 48. This is a relatively quick turnaround time, indicating that homes are selling faster than the national average. If you're a seller, this means you may not have to wait long to find a buyer for your property.
Moving onto the List to Sold Price Percentage of 98.3%, this shows that homes are typically selling very close to their list price. This can be reassuring for both buyers and sellers, as it suggests that properties are being priced accurately and fairly in the current market.
Lastly, the Median Sold Price is $475,000. This gives you an idea of the average price of homes that are selling in the area. It's always good to keep an eye on this number to get a sense of the overall market value.
Overall, these metrics paint a picture of a dynamic and active real estate market. Whether you're looking to buy or sell, it's important to stay informed and work with a knowledgeable real estate professional to navigate these trends effectively. Happy house hunting!
