Let’s break down these real estate metrics to understand the correlation between them in Jonestown TX.
First, the Months Supply of Inventory is 10.92. This means that it would take approximately 10.92 months for all the current inventory of homes on the market to be sold, based on the current rate of sales.
Next, the 12-Month Change in Months of Inventory is -6.43%. This indicates a decrease in the number of months it would take to sell all the inventory compared to the previous year. This is a positive trend for sellers as it suggests a more competitive market.
The Median Days Homes are On the Market is 41. This shows how long, on average, a home is listed before it is sold. A lower number of days on the market typically indicates a more active and fast-moving market.
The List to Sold Price Percentage is 95.1%. This means that, on average, homes are selling for 95.1% of their list price. A higher percentage suggests that sellers are able to sell their homes close to their asking price.
Lastly, the Median Sold Price is $350,000. This is the middle point of all the sold prices in the market, with half of the homes selling for more and half selling for less.
Overall, these metrics indicate a market with a moderate supply of inventory, a decreasing trend in the time it takes to sell a home, a relatively short time on the market, homes selling close to their list price, and a median sold price of $350,000. This information can be valuable for both buyers and sellers in understanding the current market conditions and making informed decisions.
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.
