Let’s dive into the exciting world of real estate metrics and explore how they all connect to give you a clearer picture of the market!
First up, we have the Months Supply of Inventory, which is sitting at a low 0.81. This means that there is a high demand for homes compared to the available supply. With such a low supply, buyers may need to act quickly when they find a property they love.
Next, let’s look at the 12-Month Change in Months of Inventory, which has decreased by an impressive -31.93%. This indicates that the market is becoming even more competitive for buyers, as the supply of homes continues to shrink.
Now, onto the Median Days Homes are On the Market, which is just 11 days. This shows that homes are selling quickly, so sellers can expect a fast turnaround on their listings.
When it comes to the List to Sold Price Percentage, we see a high percentage of 100.5%. This means that homes are typically selling for slightly above their listing price, indicating a strong seller’s market.
Lastly, the Median Sold Price is $359,950. This gives you an idea of the average price of homes that are selling in the current market.
Overall, these metrics paint a picture of a fast-paced and competitive real estate market. Buyers should be prepared to act swiftly, while sellers may benefit from the high demand and strong prices. Keep these metrics in mind as you navigate the real estate landscape, and you’ll be well-equipped to make informed decisions. Happy house hunting!