The real estate market is currently showing a moderate level of inventory with a Months Supply of Inventory at 3.67. This indicates that there is a balanced market between buyers and sellers.
The 12-Month Change in Months of Inventory has increased by +2.8%, suggesting a slight uptick in inventory levels compared to the previous year. This could potentially provide more options for buyers in the market.
Homes are spending a median of 70 days on the market before being sold, which is considered a reasonable amount of time in the current market conditions. This indicates that properties are moving at a steady pace.
The Sold to List Price Percentage is at 99.2%, showing that homes are generally selling close to their listing prices. This suggests that sellers are pricing their properties competitively and buyers are willing to pay close to the asking price.
The Median Sold Price of $328,215 indicates the average price at which homes are selling in the current market. This can provide valuable insights for both buyers and sellers in terms of pricing expectations.
Overall, the data suggests a stable and balanced real estate market with reasonable inventory levels, a healthy pace of sales, and strong buyer demand. Buyers and sellers can use this information to make informed decisions in the current market conditions.
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.
