Let’s break down these real estate metrics to better understand how they correlate with each other in Georgetown, TX.
First, let’s look at the Months Supply of Inventory, which is currently at 4.64. This number represents how many months it would take to sell all the current inventory of homes on the market at the current sales pace. A lower number indicates a seller’s market, while a higher number indicates a buyer’s market.
Next, we have the 12-Month Change in Months of Inventory, which is showing an increase of +5.94%. This means that the supply of homes on the market is growing compared to last year, which could potentially shift the market towards a buyer’s advantage.
The Median Days Homes are On the Market is 55, which indicates how long it takes, on average, for a home to sell. A lower number suggests a faster-moving market, while a higher number suggests a slower-moving market.
The List to Sold Price Percentage is 97.7%, which shows that homes are selling, on average, very close to their listing price. This is a good indicator of a balanced market where both buyers and sellers are able to negotiate effectively.
Finally, the Median Sold Price is $440,000, which represents the middle price point of all homes sold in the area. This is a key metric for both buyers and sellers to understand the current market value of homes in the area.
Overall, these metrics suggest that the real estate market is relatively balanced, with a moderate supply of inventory, homes selling close to their listing price, and a median sold price that is reasonable for both buyers and sellers. Buyers can expect a fair market with some negotiating power, while sellers can anticipate a decent return on their investment.
If you would like to know more about what is happening in your particular area, let’s schedule some time to speak. Each market is different and there are micro markets that may provide additional insight. I look forward to discussing what is going on with your area.
