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.

The Months Supply of Inventory is a crucial metric that indicates the balance between supply and demand in the market. With a current Months Supply of Inventory of 3.21, this suggests that there is a relatively low inventory of homes available for sale compared to the level of demand from buyers.

The 12-Month Change in Months of Inventory, which has increased by +36.6%, indicates a shift towards a more balanced market where there may be slightly more inventory available compared to the previous year. This could potentially give buyers more options to choose from and alleviate some of the competition in the market.

The Median Days Homes are On the Market is 28, which is a relatively short amount of time for homes to be listed before being sold. This indicates a market where properties are selling quickly, which could be attributed to the high demand and limited inventory.

The List to Sold Price Percentage of 98.1% shows that homes are typically selling close to their listing price, indicating a strong seller’s market where buyers may need to be prepared to make competitive offers to secure a property.

Lastly, the Median Sold Price of $317,500 provides insight into the overall pricing trends in the market. This can be used by both buyers and sellers to understand the value of properties in the area and make informed decisions when negotiating prices.

Overall, these metrics paint a picture of a competitive real estate market with limited inventory, quick sales, and strong pricing trends. Buyers may need to act fast and be prepared to make competitive offers, while sellers may have the opportunity to capitalize on the current market conditions. It is important for both buyers and sellers to stay informed and work with a knowledgeable real estate professional to navigate the complexities of the market.

If you need help navigating the real estate market, don’t hesitate to give me a call, send a text, or send an email! I am happy to help sell or purchase a home! 

Melinda Tindell Phone: 678-956-0454 Email: mtindellrealestate@gmail.com