Real Estate Market Update: What Buyers and Sellers Need to Know

Hey there, Buyers and Sellers! Let’s break down some key real estate stats that’ll give you a better idea of what’s happening in the market right now.

First up, we’ve got the Months Supply of Inventory sitting at a low 1.01. Basically, this means there’s a lot more demand for homes than there are homes available. With so few properties on the market, sellers are likely in a stronger position when it comes to negotiating.

Next, we’re seeing a 12-Month Change in Months of Inventory down by -10.62%. This shows the market is getting even more competitive, with homes selling faster than before.

On to Median Days Homes Are On the Market—which is only 20 days. Homes are flying off the market quickly, so if you find a place you like, be ready to move fast!

The Sold to List Price Percentage is sitting at 103.5%. This means sellers are often getting offers that are at or even above the asking price, which shows how high demand is right now.

Finally, the Median Sold Price is $700,000. This gives you a solid snapshot of current price trends in the market, helping both buyers and sellers figure out where they stand in terms of budget or listing prices.

All in all, these numbers paint a picture of a fast-moving, competitive market. Sellers have the advantage, but buyers should be prepared to act quickly—and possibly make offers above asking price—if they want to land their dream home. It’s always smart to stay informed and work with a real estate agent who knows the ropes to navigate these conditions successfully.