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The real estate market is currently showing signs of a healthy balance between supply and demand. With a Months Supply of Inventory at 2.39, this indicates that there are enough homes available to meet buyer demand without creating an oversaturation of properties on the market.
The 12-Month Change in Months of Inventory at +35.03% may seem like a significant increase, but it is important to note that this is a reflection of the market adjusting to changing conditions. Despite the increase, the market remains stable and offers opportunities for both buyers and sellers.
The Median Days Homes are On the Market at 31 days suggests that properties are selling relatively quickly, which is a positive indicator for sellers. This also reflects the strong demand in the market and the competitive nature of the real estate industry.
With a List to Sold Price Percentage of 98.5%, sellers can expect to receive close to their asking price when their property sells. This shows that buyers are willing to pay a premium for homes in this market, further highlighting the strength of the real estate sector.
Lastly, the Median Sold Price of $420,000 showcases the overall value of properties in this market. This price point is attractive to both buyers and sellers, offering a balance between affordability and return on investment.
Overall, these real estate metrics paint a picture of a dynamic and robust market that provides opportunities for buyers and sellers alike. With a healthy balance of supply and demand, properties selling quickly, and strong list to sold price percentages, this market is poised for continued success.
