By: April Creech, GRI, C2EX
Hey there, Buyers and Sellers! Let's dive into the exciting world of real estate metrics and see how they all come together to paint a picture of the current market.
First up, we have the month's Supply of Inventory sitting at a comfortable 2 months. This means that at the current rate of sales, it would take 2 months to sell all the available homes on the market.
Now, let's look at the 12-month Change in Months of Inventory, which shows a positive trend of +3.63%. This indicates that there is a slight increase in the amount of time it would take to sell all the homes on the market compared to a year ago.
Moving on to the Median Days Homes are On the Market, we see that homes are selling quickly at just 25 days on average. This tells us that the market is moving at a brisk pace, with buyers eager to snatch up their dream home.
Next, we have the List to Sold Price Percentage at 96.3%. This shows that homes are generally selling close to their list price, indicating a strong market where sellers are getting a good return on their investment.
Lastly, the Median Sold Price is $245,000, giving us a snapshot of the average price at which homes are selling. This can be a useful benchmark for buyers and sellers to gauge the value of properties in the market.
So, when we put all these metrics together, we can see a market that is balanced with a healthy level of inventory, quick turnover, and strong pricing. Whether you're looking to buy or sell, now is a great time to get in on the action and make your real estate dreams a reality!
Comments