Huntersville, NC Real Estate Trends For January 2024
Let’s break down these real estate metrics to give you a better understanding of how they correlate and what they mean for both buyers and sellers in the current market.
Months Supply
First, let’s look at the Months Supply of Inventory, which is currently 0.84. This number indicates how many months it would take to sell all the current inventory of homes on the market at the current pace of sales. A lower number, like 0.84, typically indicates a seller’s market where there is high demand and limited supply.
Next, the 12-Month Change in Months of Inventory is -68.89%. This significant decrease suggests that the market has become even more competitive for buyers over the past year, with inventory levels dropping by nearly 70%.
Days On Market
The Median Days Homes are On the Market is 16, which is a relatively short amount of time. This indicates that homes are selling quickly, likely due to high demand and limited inventory.
Sale Price Versus List Price
The List to Sold Price Percentage is 99%, showing that homes are selling very close to their list price. This is good news for sellers, as it suggests that they are able to get close to their asking price in the current market.
Median Sold Price
Finally, the Median Sold Price is $515,000. This number gives you an idea of the average price at which homes are selling in the current market. It’s important for both buyers and sellers to be aware of this figure when making decisions about buying or selling a home.
What The Numbers Mean
Overall, these metrics paint a picture of a competitive real estate market with high demand, low inventory, and homes selling quickly and close to their list price. Buyers may need to act fast and be prepared to make strong offers, while sellers may find themselves in a good position to sell their homes at or near their asking price. It’s essential for both parties to stay informed and work with a knowledgeable real estate agent to navigate the current market conditions effectively.
Conclusion
For buyers, it’s important to be prepared for a fast moving competitive market and act swiftly when a desirable property becomes available. Sellers can take advantage of the high demand and limited supply by pricing their homes strategically to maximize their sale price.
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