Let’s dive into the fascinating world of real estate metrics and how they connect to give us a comprehensive picture of the market. Whether you’re a buyer, seller, or just a real estate enthusiast, these numbers provide key insights that help us understand market trends. Ready? Let’s go! 🚀
📉 Months Supply of Inventory: 1.82
We’re in a seller’s market, folks! With just 1.82 months of supply, this means demand is higher than supply, leading to faster sales and even potentially higher prices 💸. Homes are flying off the shelves, and sellers are in the driver’s seat!
📈 12-Month Change in Inventory: +47.97%
Whoa! A 47.97% increase in the months of inventory signals a shift. While the market is still hot for sellers, this jump suggests it’s becoming more balanced ⚖️. Buyers may have more options now, and with more choices comes a bit more negotiation power. 🏘️
⏱️ Median Days on the Market: 15 Days
The average home is selling in just 15 days! That’s right—if you’re a seller, expect your property to get snatched up quickly! And buyers, be ready to act fast. The competition is fierce, and homes are going like hotcakes 🔥.
💰 List to Sold Price Percentage: 100.8%
Homes are selling above listing price at 100.8%! Bidding wars and multiple offers are common, driving prices slightly higher than what sellers initially ask for. Sellers are definitely winning in this market, while buyers need to bring their A-game 🏆.
🏠 Median Sold Price: $275,000
The median sold price sits at $275,000, giving us a benchmark for the current market. Whether you’re buying or selling, knowing this number helps you gauge the general pricing environment. This is your starting point for negotiations!
🧐 What Does This All Mean?
Together, these real estate metrics paint a picture of a competitive, evolving market. Sellers, you’re in a great position, but buyers may find opportunities as the inventory grows. Knowing these numbers helps you navigate the complex real estate landscape with confidence! 💡
Whether you’re buying or selling, understanding these trends is the key to making smart moves in the real estate game. Good luck out there! 🏘️🔑