Pearland Real Estate Market Update and Trends April 07, 2024
The real estate market is currently experiencing a low inventory level, with only 1.48 months of supply available. This means that there are fewer homes on the market compared to the demand from buyers. The 12-month change in months of inventory has decreased by 2.63%, indicating a trend towards even lower inventory levels.
Despite the limited supply, homes are selling quickly, with a median of only 14 days on the market. This can be attributed to the high list to sold price percentage of 98.6%, showing that sellers are able to secure close to their asking price in a short amount of time.
In terms of pricing, the median sold price for homes is $367,450. This indicates a healthy market where homes are selling at a competitive price point. Buyers can expect to pay close to the asking price for a home in this market.
Overall, these metrics suggest a strong seller's market with low inventory levels, quick sales, and competitive pricing. Buyers should be prepared to act fast when a desirable property comes on the market, while sellers can expect to see a high return on their investment.
If you have any questions and need help with market trends and updates, reach out to Jennifer Yoingco, REALTOR®, and her team in The Houston Suburb Group, so you can get ready to EXPERIENCE LIVING IN HOUSTON, TEXAS!
Jeanette San Luis is a blog contributor, a double degree major in BS Chemical Engineering and BS Nursing, and graduated Magna Cum Laude and Summa Cum Laude respectively. She has won numerous accolades and was named one of Houston Chronicles TOP 150 Outstanding Nurses in 2016 and 2019. In her dual role as a REALTOR®, she empathizes and understands the needs of her clients; therefore, you are in very good hands.
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