Ladies and gentlemen, welcome to today’s real estate metrics analysis! We have some fascinating data to share with you that will surely keep you engaged and interested. Whether you are a buyer or a seller in this housing market, this information will provide valuable insights if you are looking to buy or sell a house in Harford Count, MD and surrounding areas.
Let’s dive right in! The first metric we will discuss is the “Months Supply of Inventory,” which stands at a mere 0.78. This figure indicates how long it would take to sell all the available homes on the market if no new properties were listed. With such a low supply, we can infer that the market is experiencing a high demand for homes.
Moving on, we have the “12-Month Change in Months of Inventory,” which reveals a decline of 26.42%. This shows a significant decrease in the number of months it would take to sell all the available homes compared to the previous year. Such a decline suggests that the market is becoming even more competitive, with properties being snapped up at a faster pace.
Now, let’s talk about the “Median Days Homes are On the Market,” which currently stands at a mere four days. Yes, you heard that right, just four days! This astonishingly low number indicates that homes are being sold incredibly quickly. Buyers need to act fast, while sellers can expect a swift transaction if their property is priced competitively.
Next, we have the “List to Sold Price Percentage,” which sits at an impressive 104.2%. This means that, on average, homes are selling for 4.2% above their listed price. Sellers can rejoice as this indicates that buyers are willing to pay a premium for desirable properties.
Finally, let’s discuss the “Median Sold Price,” which currently stands at $380,000. This figure represents the midpoint of all sold properties in the market. It’s crucial to note that this is only the median, which means that there are homes both above and below this price point. However, it provides a glimpse into the overall pricing trends in the market.
To summarize the correlation between these metrics, we can see that the low supply of inventory, coupled with a declining number of months it takes to sell homes, has led to homes being on the market for a mere four days. Furthermore, sellers can expect to receive offers above their listed price, resulting in a higher median sold price.
For buyers, this data suggests that competition is fierce, and they must act swiftly to secure their dream home. Meanwhile, sellers can take advantage of the current market conditions to potentially receive a higher price for their property.
Remember, these metrics are based on actual data, so you can trust that the analysis provided here accurately reflects the current real estate landscape. Stay engaged and informed, and we wish you the best in your real estate endeavors!
If you are looking to buy or sell (or simply curious and have real estate questions) contact us today!