As a buyer or seller in the real estate market, it's essential to understand the metrics that impact the value of properties. These metrics can help you make informed decisions about buying or selling a property, and they can also give you an idea of what to expect in terms of pricing and timing.
Months Supply of Inventory:
This metric measures how many months it would take for all the current homes on the market to sell, given the current rate of sales. In this case, the DSM Months Supply of Inventory is 1.4, which is a relatively low number.
This indicates that there is still a high demand for homes in this market and that properties are selling quickly.
Median Days Homes are on the Market:
This metric measures how long it takes for a home to sell once it's listed on the market. Currently, the Median Days Homes are on the market is just 5 days, which is a very short amount of time.
This indicates that homes are selling quickly, and buyers need to act fast if they want to secure a property.
The List to Sold Price Percentage:
This metric measures the percentage of the list price that a home sells for. In this case, the List to Sold Price Percentage is 102.9%, which means that homes are selling over their list price.
This indicates that sellers are pricing their homes appropriately for the market, and buyers are willing to pay the asking price or more.
Median Sold Price:
This metric measures the middle point of all the home sales in the market. In this case, the Median Sold Price is $210,550, which gives buyers and sellers an idea of what to expect in terms of pricing.
