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The real estate market is currently experiencing a moderate level of inventory, with the Months Supply of Inventory at 7.07. This means that it would take approximately 7.07 months to sell all the current inventory at the current sales pace.
The 12-Month Change in Months of Inventory has seen a significant increase of +121.63%, indicating a shift towards a more buyer-friendly market. This increase suggests that there is more inventory available for buyers to choose from compared to previous months.
Despite the increase in inventory, homes are still selling relatively quickly, with the Median Days Homes are On the Market at 49. This suggests that there is still strong demand for homes in the market.
Additionally, sellers are receiving offers close to their asking price, with the Sold to List Price Percentage at 97.5%. This shows that sellers are pricing their homes competitively and buyers are willing to pay close to the asking price.
The Median Sold Price for homes in this market is $388,000, indicating that homes are selling at a moderate price point. This information can be valuable for both buyers and sellers in understanding the current market conditions and making informed decisions.
