First up, we have the Months Supply of Inventory, which currently stands at 2.47. This number tells us how long it would take for all the current homes on the market to be sold if no new listings were added. A low number like 2.47 indicates a seller’s market, where demand exceeds supply.
Next, we look at the 12-Month Change in Months of Inventory, which has increased by +20.49%. This means that inventory levels have been rising over the past year, giving buyers more options to choose from.
The Median Days Homes are On the Market is 29, showing that homes are selling relatively quickly in this market. This could be due to high demand or attractive pricing.
The List to Sold Price Percentage is 98.3%, indicating that homes are typically selling very close to their asking price. This is good news for sellers, as it shows that properties are being priced accurately.
Lastly, the Median Sold Price is $479,900, giving us an idea of the average price at which homes are selling in this market. This number can help both buyers and sellers understand the current pricing trends.
Overall, these metrics paint a picture of a market that is active and competitive, with homes selling quickly and at prices close to asking. Whether you’re looking to buy or sell, it’s important to keep an eye on these key indicators to make informed decisions in today’s real estate market. Happy house hunting!