Letâs dive into the fascinating world of real estate metrics and how they connect to give us a comprehensive picture of the market. Whether youâre a buyer, seller, or just a real estate enthusiast, these numbers provide key insights that help us understand market trends. Ready? Letâs go! đ
đ Months Supply of Inventory: 1.82
Weâre in a sellerâs 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 đž. Homes are flying off the shelves, and sellers are in the driverâs seat!
đ 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 itâs becoming more balanced âïž. Buyers may have more options now, and with more choices comes a bit more negotiation power. đïž
â±ïž Median Days on the Market: 15 Days
The average home is selling in just 15 days! Thatâs rightâif youâre 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 đ„.
đ° 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 đ.
đ Median Sold Price: $275,000
The median sold price sits at $275,000, giving us a benchmark for the current market. Whether youâre buying or selling, knowing this number helps you gauge the general pricing environment. This is your starting point for negotiations!
đ§ What Does This All Mean?
Together, these real estate metrics paint a picture of a competitive, evolving market. Sellers, youâre 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! đĄ
Whether youâre buying or selling, understanding these trends is the key to making smart moves in the real estate game. Good luck out there! đïžđ