As we analyze the current real estate market data, we see a correlation between the different metrics that provide valuable insights for both buyers and sellers.
The Months Supply of Inventory is a key indicator of market conditions, and at 4.41 months, it suggests a balanced market where neither buyers nor sellers have a significant advantage. However, the 12-Month Change in Months of Inventory increasing by +56.38% indicates a shift towards a more buyer-friendly market, with more inventory available.
The Median Days Homes are On the Market at 35 days shows that properties are selling relatively quickly, which is good news for sellers. Additionally, the List to Sold Price Percentage of 98.1% highlights that homes are generally selling close to their asking price, indicating a strong market with motivated buyers. We are not in the market where homes are selling in hours, and so presentation matters upon first listing your property on the market!
Lastly, the Median Sold Price of $349,900 gives buyers and sellers a benchmark for pricing and negotiation. This price point reflects the current market value of homes in the area, providing a reference for both parties.
Overall, these metrics paint a picture of a stable market with balanced supply and demand, favorable conditions for sellers due to quick sales and high list to sold price percentage, and a slightly shifting landscape towards a more buyer-friendly market. Buyers and sellers can use this data to make informed decisions and navigate the real estate market effectively.
If you have any questions on the market here in Tarrant county, please reach out to Amy Steele to discuss. 817-470-8043, call, text or email dfwamysteele@gmail.com
My goal is to position you to have real estate advantages in any market!
Amy Steele
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