Let’s break down these real estate metrics and see how they are correlated with the Pflugerville November 2024 Residential Housing Market Update.
First, let’s look at the Months Supply of Inventory, which is currently at 3.27. This means that based on the current rate of sales, it would take approximately 3.27 months to sell all the available homes on the market.
Next, we have the 12-Month Change in Months of Inventory, which is showing a positive trend of +13.15%. This indicates that the inventory of homes available for sale has been increasing over the past year.
The Median Days Homes are On the Market is 50, which tells us that on average, homes are selling relatively quickly in this market. This could be due to high demand or competitive pricing.
The List to Sold Price Percentage is 98.5%, which means that homes are typically selling very close to their list price. This is a good indicator of a strong seller’s market.
Lastly, the Median Sold Price is $399,999. This gives us an idea of the average price at which homes are selling in this market.
When we look at all of these metrics together, we can see that there is a high demand for homes in this market, leading to a low inventory and quick sales. Sellers are getting close to their asking price, which is reflected in the high list to sold price percentage.
For buyers, this means they may need to act quickly and be prepared to make competitive offers. For sellers, it’s a good time to list your home as you may be able to sell quickly and at a strong price.
Overall, these metrics paint a picture of a hot real estate market with opportunities for both buyers and sellers in the Pflugerville 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.
