Let’s break down the correlation between these real estate metrics in the Old Lake Highlands Neighborhood of Dallas to help both buyers and sellers understand the current market conditions.

First, the Months Supply of Inventory is at 3.62, which means that at the current rate of sales, it would take approximately 3.62 months to sell all the available homes on the market. This indicates a relatively balanced market, neither favoring buyers nor sellers too heavily.

However, the 12-Month Change in Months of Inventory has increased by a significant +110.47%. This suggests that there are more homes available on the market compared to last year, which could potentially lead to more competition among sellers and possibly lower prices for buyers.

The Median Days Homes are On the Market is 28, which shows that homes are selling relatively quickly in this market. This could be due to the high demand for housing or the attractive pricing of properties.

The List to Sold Price Percentage is at 98%, indicating that homes are typically selling very close to their list price. This is good news for sellers as it shows that they are pricing their homes accurately and buyers are willing to pay close to the asking price.

Lastly, the Median Sold Price is $605,000, giving both buyers and sellers a benchmark for the average price of homes in this market. This can help sellers determine a competitive listing price and buyers gauge what they can expect to pay for a home in this area.

Overall, these metrics paint a picture of a market that is relatively balanced with homes selling quickly and close to their list price. However, the increase in inventory compared to last year could indicate a shift towards a more buyer-friendly market in the near future. Buyers may have more options to choose from, while sellers may need to adjust their pricing strategies accordingly.