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:
🏡 Attention Des Moines Buyers and Sellers, the Months Supply of Inventory is 1.88, which indicates that there is limited inventory available in the market. This means that there are fewer homes for sale compared to the number of buyers looking for properties.
Median Days Homes are on the Market:
The Median Days Homes are On the Market is 11, suggesting that homes are selling relatively quickly once they are listed. This is likely a result of the low inventory levels and high demand in the market.
The List to Sold Price Percentage:
List to Sold Price Percentage is 104.1%, indicating that on average, homes are selling for slightly above their list price. This could be due to multiple offers on properties or competitive bidding situations.
Median Sold Price::
Market Update 📉 The Median Sold Price is $222,500, showing the average price at which homes are selling in the market. This price point reflects the current market conditions and the value of properties in the area.
🏠 Overall, these metrics paint a picture of a competitive real estate market with limited inventory, quick sales, and homes selling for slightly above their list price. Buyers may need to act fast and offer strong bids, while sellers may find themselves in a favorable position to sell their homes at a good price.
With the continuous ups and downs of the real estate market, the one thing that needs to be consistent is your real estate agent, whom you trust to guide you through it all!
Reach out to me today to capitalize on these market trends!
(All stats come from local MLS data)
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