As we analyze the current real estate market data, we can see a correlation between several key metrics that provide valuable insights for both buyers and sellers.

Firstly, the Months Supply of Inventory stands at 2.5, indicating a relatively low inventory level. This means there is high demand for homes compared to the available supply, which can potentially lead to a competitive market for buyers.

The 12-Month Change in Months of Inventory shows a significant increase of +87.97%, suggesting a shift towards a more balanced market. This change could potentially result in more options for buyers and less competition among sellers.

Median Days Homes are On the Market is 18, indicating that homes are selling relatively quickly. This could be attributed to the low inventory levels and high demand in the market.

List to Sold Price Percentage is at 101.1%, indicating that homes are typically selling for slightly above the listing price. This could be a result of the competitive market conditions and strong demand from buyers.

Lastly, the Median Sold Price is $683,300, showcasing the current market value of homes in the area. This information can be valuable for both buyers and sellers in determining pricing strategies.

Overall, the data suggests a dynamic real estate market with low inventory levels, competitive pricing, and quick turnaround times for home sales. Buyers may need to act quickly and be prepared to make competitive offers, while sellers could potentially benefit from the current market conditions with homes selling above listing prices. It is important for both buyers and sellers to stay informed and work with a professional real estate agent to navigate the market effectively.

Market Trends

As a professional in the real estate industry, it is important to understand the correlation between key metrics to make informed decisions when buying or selling a property.

Firstly, let’s look at the Months Supply of Inventory, which currently stands at 2.5. This metric indicates the number of months it would take to sell all the homes on the market given the current level of demand. A low supply of inventory typically results in higher prices and a competitive market for buyers.

The 12-Month Change in Months of Inventory has seen a significant increase of +87.97%. This suggests that there has been a substantial increase in the number of homes available for sale compared to the previous year. This could be due to various factors such as increased construction activity or a decrease in buyer demand.

Despite the increase in inventory, the Median Days Homes are On the Market is relatively low at 18 days. This indicates that homes are selling quickly, likely due to high demand and competitive pricing.

The List to Sold Price Percentage is 101.1%, which means that homes are typically selling for slightly above their listing price. This could be a result of multiple offers on properties or sellers pricing their homes strategically to attract buyers.

Lastly, the Median Sold Price is $683,300, indicating the middle price point of homes sold in the area. This metric gives buyers and sellers a good idea of the current market value of properties in the area.

In conclusion, the correlation between these metrics suggests a dynamic and competitive real estate market with low inventory levels, quick sales, and homes selling above their listing price. Buyers and sellers should be prepared for a fast-paced market with potential bidding wars and strategic pricing strategies.

Number of New Listings

Number of Active Listings

Pending Listings

If you’d like a custom market trend report, reach out to Chloe Powell at the following contact information.

Chloë Powell

Hunt Country Sotheby’s International Realty

571-379-0199

chloe.powell@huntcountrysir.com

thechloepowell.com

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