Let’s break down these real estate metrics to understand how they are correlated and what they mean for buyers and sellers in the current market in Leander, TX.
First, let’s look at the Months Supply of Inventory, which is at 4.44. This number represents how long it would take for all the current homes on the market to be sold, given the current sales pace. A lower number indicates a seller’s market, while a higher number suggests a buyer’s market.
Next, we have the 12-Month Change in Months of Inventory, which is at +17.46%. This percentage shows the increase in inventory over the past year. A higher percentage could mean more options for buyers but also potentially more competition for sellers.
The Median Days Homes are On the Market is 41, indicating the average number of days it takes for a home to sell. A lower number suggests a faster-moving market, while a higher number may mean homes are sitting on the market longer.
The List to Sold Price Percentage is at 96.6%, showing that homes are typically selling for about 96.6% of their listing price. A higher percentage indicates that sellers are getting close to their asking price.
Lastly, the Median Sold Price is $500,000, providing a snapshot of the average price at which homes are selling. This information can be useful for both buyers and sellers in understanding market trends and setting expectations for pricing.
Overall, these metrics show a balanced market with a moderate supply of inventory and homes selling close to their listing price. Buyers may have more options to choose from, while sellers can expect competitive pricing and relatively fast sales. It’s essential for both buyers and sellers to stay informed about these metrics to make informed decisions in the real estate market.
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.
