Fall Housing Trends in 21042

Hey there, Buyers and Sellers! Let’s dive into some real estate metrics that can give us a good idea of what’s happening in the market right now.

First up, we have the Months Supply of Inventory, which is currently at 0.76. This number represents how many months it would take to sell all the current inventory of homes on the market if no new listings were added. A low number like 0.76 indicates a seller’s market, where there are more buyers than available homes.

Next, we have the 12-Month Change in Months of Inventory, which is at -22.45%. This shows a significant decrease in the amount of time it would take to sell all the current inventory compared to a year ago. This can indicate high demand and a competitive market.

The Median Days Homes are On the Market is just 12 days. This means that on average, homes are selling pretty quickly once they are listed. Sellers can expect a fast turnaround if their home is priced right and in good condition.

The List to Sold Price Percentage is at 102.8%, which is higher than 100%. This indicates that, on average, homes are selling for slightly above their listing price. Sellers may have some room for negotiation, but buyers should be prepared for competitive offers.

Lastly, the Median Sold Price is $750,000. This gives us a good idea of the overall price range of homes that are selling in the current market. Buyers and sellers can use this information to gauge what they can expect in terms of pricing.

Overall, these metrics paint a picture of a fast-paced and competitive real estate market with high demand and limited inventory. Buyers may need to act quickly and be prepared to make strong offers, while sellers may have the upper hand in negotiations. It’s always a good idea to stay informed and work with a knowledgeable real estate agent to navigate these market conditions. Happy house hunting!

If you’d like to start the process of Buying or Selling reach out out today! Call or Email Me