Facebook
X
Pinterest
Copy Link
The real estate market is currently showing a strong demand for homes with a relatively low supply of inventory, as indicated by the Months Supply of Inventory at 4.78. This means that at the current rate of sales, it would take approximately 4.78 months to sell all the available homes on the market.
The 12-Month Change in Months of Inventory has increased by a significant 126.54%, suggesting that the market may be shifting towards a more balanced or even a buyer’s market. This could potentially lead to more negotiating power for buyers and potentially lower prices.
Homes are selling relatively quickly, with a median of 35 days on the market. This indicates that there is strong demand for homes in this market and homes are selling at a relatively fast pace.
The Sold to List Price Percentage is at 97.6%, indicating that homes are generally selling close to their asking price. This could suggest that sellers are pricing their homes competitively and buyers are willing to pay close to the list price.
The Median Sold Price for homes in this market is $440,000, indicating that this is the mid-point price of all homes sold in this market. This can give buyers and sellers a general idea of the price range for homes in this market.
Overall, these metrics suggest that the real estate market is competitive with strong demand for homes and relatively low inventory. Buyers may need to act quickly and be prepared to make competitive offers, while sellers may benefit from pricing their homes competitively to attract buyers.
