Hey there, buyers and sellers! Let’s dive into some real estate metrics to give you a better understanding of the current market trends.
First up, we have the Months Supply of Inventory sitting at 3.49. This number tells us how long it would take for all the current homes on the market to be sold if no new listings were added. A lower number typically indicates a seller’s market, while a higher number suggests a buyer’s market.
Next, we have the 12-Month Change in Months of Inventory at +4.8%. This means that there has been a slight increase in the amount of time it would take to sell all the homes on the market compared to the previous year.
The Median Days Homes are On the Market is 65. This tells us the average amount of time it takes for a home to sell once it’s listed. A lower number can indicate a fast-moving market, while a higher number may suggest homes are sitting on the market longer.
The Sold to List Price Percentage is at 97.3%. This ratio shows how close homes are selling to their listing price. A higher percentage typically indicates a strong seller’s market, where buyers are willing to pay close to the asking price.
Lastly, the Median Sold Price is $958,000. This is the middle point of all the sold prices in the market, meaning half of the homes sold for more and half sold for less. Knowing the median price can give you a good idea of the overall market value.
In summary, with a relatively low Months Supply of Inventory, a slight increase in inventory compared to last year, homes selling in about 65 days on average, a high Sold to List Price Percentage, and a median sold price of $958,000, we can see that the market is active and prices are holding steady.
Keep these metrics in mind as you navigate the real estate market, whether you’re looking to buy or sell. Happy house hunting!
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Marie Sells Dallas 