As a real estate professional, it is important to understand the correlation between various metrics to provide valuable insights to both buyers and sellers. Let’s analyze the data provided to gain a deeper understanding of the current market conditions.

Today we will take a look at Phillips Creek Ranch Addition in Frisco, Texas.

The Months Supply of Inventory is a key metric that indicates the balance between supply and demand in the housing market. A low value of 1.92 suggests that there is a limited number of homes available for sale relative to the number of buyers in the market. This scarcity of inventory can lead to increased competition among buyers and potentially higher prices for sellers.

The 12-Month Change in Months of Inventory of -15.42% indicates a significant decrease in the supply of homes over the past year. This decline in inventory may be attributed to various factors such as increased demand, limited new construction, or a decrease in housing turnover. As a result, sellers may have more negotiating power in such a competitive market.

The Median Days Homes are On the Market is 19, which is relatively low and suggests that homes are selling quickly in this market. A shorter time on the market can be advantageous for sellers as it indicates strong buyer interest and potentially multiple offers on a property. Buyers, on the other hand, need to act quickly and make competitive offers in order to secure a home in a fast-paced market.

The List to Sold Price Percentage of 97.6% indicates that homes are typically selling very close to their listing price. This metric suggests that sellers are pricing their homes accurately and that buyers may need to be prepared to offer close to the asking price in order to successfully purchase a property in this market.

Finally, the Median Sold Price of $1,100,000 provides insight into the average selling price of homes in the market. This high median price may indicate that the market caters to luxury or high-end properties, which can be appealing to sellers looking to maximize their returns.

In conclusion, the data suggests that the current real estate market is characterized by limited inventory, high demand, quick sales, and strong pricing. Buyers should be prepared to act fast and make competitive offers, while sellers may benefit from favorable selling conditions. Overall, this analysis provides valuable information for both buyers and sellers looking to navigate the current real estate market.