Ladies and gentlemen, whether you’re a buyer or a seller, you’re in for a treat today! We’re going to dive into the exciting world of real estate metrics and explore the fascinating correlations between them. So grab your favorite beverage, sit back, and let’s embark on this enlightening journey together!
Let’s start by looking at the month's Supply of Inventory, which currently stands at a mere 1.36 months. For buyers, this means that there is a limited supply of homes on the market. With such a low inventory, competition among buyers can be fierce, so you’ll need to act swiftly if you find a property that catches your eye.
Now, sellers, this is where things get really interesting for you. The 12-month Change in Months of Inventory is jaw-dropping -9.93%. What does this mean? Well, it indicates that the supply of available homes has been decreasing over the past year. This is excellent news for sellers as it suggests a high demand for properties, potentially leading to quick sales and potentially even multiple offers.
Speaking of quick sales, let’s talk about the Median Days Homes are On the Market, which currently stands at just 14 days. Yes, you heard that right, folks – homes are flying off the market in less than two weeks on average! For sellers, this means that if you price your property competitively and present it well, you can expect a speedy sale. And for buyers, it means you’ll need to be on your toes, ready to make an offer when the right home comes along.
Homes Sell With Multiple Offers
Now, let’s move on to the List to Sold Price Percentages, which is a remarkable 100.4%. What does this mean for both buyers and sellers? Well, it suggests that homes are, on average, selling for slightly above their list price. For buyers, this means you may need to be prepared to negotiate and potentially offer a bit more to secure your dream home. And for sellers, it’s a fantastic indication that you have the potential to fetch a great price for your property.
Finally, let’s talk numbers. The Median Sold Price currently stands at a handsome $428,454. For sellers, this is a figure that should bring a smile to your face. It represents the median price at which homes have been selling in the market recently. And for buyers, it provides a useful benchmark to gauge the value of properties you may be interested in.
So there you have it, folks! These real estate metrics paint an exciting picture for both buyers and sellers. With a low supply of inventory, decreasing months of inventory, homes selling at lightning speed, prices slightly above list price, and a healthy median sold price, the market is certainly buzzing with activity.
Whether you’re looking to buy or sell, now is the time to seize the opportunity. But remember, real estate markets can be dynamic, so it’s always a good idea to consult with a knowledgeable real estate professional who can provide you with tailored advice based on your specific needs.
If you’re interested in making Raleigh your next home, Yoana Nin Realty aka The Prosperous Agency can help you find the perfect property. Our team of expert realtors specializes in the Raleigh area and can help you navigate the housing market with ease. So what are you waiting for? Contact us today to start your journey towards your next home!
