The real estate market is currently experiencing a moderate level of inventory, with a months supply of inventory at 10.38. This indicates that it would take approximately 10.38 months to sell all the current homes on the market if no new listings were added.
The 12-month change in months of inventory has increased significantly by 51.31%, suggesting that there has been an influx of new listings entering the market compared to the previous year. This increase in inventory could potentially provide more options for buyers and lead to a more competitive market for sellers.
Homes are spending a median of 67 days on the market before being sold, indicating a moderate pace of sales activity. This could be influenced by factors such as pricing, location, and the overall condition of the property.
The list to sold price percentage is at 95.2%, suggesting that homes are typically selling for very close to their listed price. This could indicate that sellers are pricing their homes competitively and that buyers are willing to pay close to asking price.
The median sold price for homes in this market is $630,000, highlighting the current value of properties in the area. This could be influenced by factors such as location, size, and condition of the homes.
Overall, the combination of these metrics paints a picture of a real estate market that is active and competitive, with a moderate level of inventory and homes selling close to their listed price. Buyers and sellers should be prepared to act quickly and make informed decisions in this dynamic market.