The current real estate market is showing a healthy balance between supply and demand, with a Months Supply of Inventory at 4.58. This indicates that there is a moderate level of inventory available for buyers to choose from.
The 12-Month Change in Months of Inventory has seen a significant increase of +64.75%, suggesting that the market may be experiencing a slight shift towards a more buyer-friendly environment.
Homes are spending a relatively short amount of time on the market, with a Median Days on Market of 38. This indicates that properties are selling relatively quickly, likely due to strong buyer demand in the area.
The Sold to List Price Percentage of 97.5% demonstrates that homes are generally selling close to their asking price, indicating a fair and competitive market for both buyers and sellers.
The Median Sold Price of $358,000 reflects the current value of homes in the area, providing insight into the overall affordability and market trends.
Overall, these metrics suggest a balanced real estate market with good opportunities for both buyers and sellers. Buyers can expect a decent selection of homes to choose from and quick sales, while sellers can anticipate selling their homes at a fair price in a reasonable amount of time.
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.
