Welcome, Buyers and Sellers! Let’s dive into the real estate metrics and see how they connect to give a clear picture of the current market.
Months Supply of Inventory
- The market currently has 2.3 months of inventory.
- This number tells us how long it would take for all the current homes on the market to be sold, if no new listings were added.
- A low number like 2.3 indicates a seller’s market, where demand is high and supply is limited.
2-Month Change in Months of Inventory
- Compared to a year ago, the inventory is down -22.56%.
- This shows us that the supply of homes has decreased significantly over the past year, further reinforcing the idea of a seller’s market.
Median Days Homes are On the Market,
- Currently, a home’s days on market average is 26.
- This tells us that homes are selling relatively quickly, with buyers eager to snatch up properties in this competitive market.
List to Sold Price Percentage
- 99.7% of the homes listed are selling for the listing price.
- This indicates that homes are typically selling very close to their listing price, showing that sellers are receiving strong offers and buyers are willing to pay close to the asking price.
Median Sold Price
- The median sold price in Metamora is currently $481,000.
- This gives us a snapshot of the current market value of homes in the area.
- This number can help both buyers and sellers understand what to expect in terms of pricing.
Overall, these metrics paint a clear picture of a hot real estate market with limited inventory, quick sales, and strong prices. Whether you’re looking to buy or sell, now is a great time to make your move in this dynamic market. Happy house hunting!
Call me to help!
Michelle 810-4445806