Hello potential home buyers and sellers! Let's dive into the exciting world of real estate metrics and see how they can help you make informed decisions.
First up, we have the Months Supply of Inventory, which currently stands at 6.68. This metric tells us how long it would take for all the current homes on the market to be sold, given the current pace of sales. A lower number indicates a seller's market, while a higher number indicates a buyer's market.
Next, we have the 12-Month Change in Months of Inventory, which has seen a significant increase of +45.53%. This suggests that there are more homes available for sale compared to the previous year, giving buyers more options to choose from.
The Median Days Homes are On the Market is 49, indicating that homes are selling relatively quickly in this market. This could be due to high demand or competitive pricing strategies by sellers.
The List to Sold Price Percentage is at 98.5%, showing that homes are generally selling close to their list price. This can be a helpful indicator for sellers when pricing their homes.
Lastly, the Median Sold Price is $341,125, giving us a snapshot of the average home price in this market. This can be useful for both buyers and sellers to understand the current market trends and make informed decisions.
Overall, these metrics paint a picture of a dynamic real estate market with ample inventory, quick sales, and homes selling close to their list price. Whether you're looking to buy or sell, these metrics can help guide your decision-making process. Happy house hunting!