Let’s break down these real estate metrics to better understand how they are correlated for the Leander November 2024 Residential Housing Market Update.
First, let’s look at the Months Supply of Inventory, which is currently at 3.1. This metric tells us 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 indicates a buyer’s market for Leander November 2024 Residential Housing Market Update.
Next, we have the 12-Month Change in Months of Inventory, which is showing a positive change of +0.32%. This means that the supply of homes on the market is increasing slightly compared to the previous year. This could indicate a shift towards a more balanced market or potentially a buyer’s market in the future.
The Median Days Homes are On the Market is 71, which tells us how long it takes for a home to sell on average. A lower number typically indicates a fast-moving market with high demand.
The List to Sold Price Percentage is at 97.2%, which means that homes are selling very close to their listing price. This could indicate strong buyer interest and competitive pricing in the market.
Finally, the Median Sold Price is $474,000, giving us an idea of the average selling price for homes in the area. This is important for both buyers and sellers to understand the market value of properties.
Overall, these metrics suggest that the market is relatively balanced with a slight increase in inventory, but homes are still selling quickly and close to their listing price. Buyers and sellers should pay attention to these trends to make informed decisions with my Leander November 2024 Residential Housing Market Update.
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.
