04/14/2025
The real estate market is currently showing a balance between supply and demand, with a relatively healthy 5.24 months supply of inventory. This means that it would take approximately 5.24 months to sell all the homes on the market at the current pace of sales.
The 12-month change in months of inventory has increased by +37.17%, indicating a slight increase in the amount of available homes on the market compared to the previous year. This could be attributed to a combination of factors such as new construction, increased listings, or a decrease in buyer demand.
Despite the slight increase in inventory, homes are still selling relatively quickly, with a median of 46 days on the market. This suggests that there is still strong buyer interest and competition for homes in this market.
Furthermore, sellers are seeing strong returns on their investments, with the sold to list price percentage at an impressive 96.7%. This means that on average, homes are selling for 96.7% of their list price, indicating a strong seller's market.
In terms of pricing, the median sold price for homes in this market is $475,000. This is a good indication of the overall value of homes in the area, and sellers can expect to see a solid return on their investment.
Overall, the current real estate market is showing signs of stability and strength, with a healthy balance between supply and demand, quick sales, high list price percentages, and solid median sold prices. Buyers and sellers alike can expect to find opportunities in this market.