By: Alison North, Realtor & Team Lead

 

As a professional in the real estate industry, it is important to understand the correlation between various metrics to make informed decisions as a buyer or seller. 

 

First, let's look at the month's supply of Inventory, which currently stands at 2.28. This metric indicates how long it would take for all current homes on the market to be sold at the current sales pace. A lower number suggests a seller's market, while a higher number indicates a buyer's market.

 

The 12-Month Change in Months of Inventory has increased by 37.35%, signaling a shift towards a more balanced market. This could mean that there are more homes available for buyers to choose from, leading to less competition and potentially more negotiating power for buyers.

 

The Median Days Homes are On the Market is a mere 15 days, indicating a fast-paced market where homes are selling quickly. This could be attributed to the low inventory levels and high demand from buyers.

 

The List to Sold Price Percentage is 98.6%, showing that homes are typically selling close to their list price. This suggests that sellers are pricing their homes accurately and buyers are willing to pay close to the asking price.

 

Lastly, the Median Sold Price is $187,500, giving buyers and sellers a benchmark for the current market value of homes in the area. This price point, combined with the low inventory levels and fast sales pace, could indicate a competitive market with the potential for appreciation in home values.

 

In conclusion, these real estate metrics all point towards a market that is favorable for both buyers and sellers. Buyers may have more options to choose from and potentially more negotiating power, while sellers can expect their homes to sell quickly and close to the asking price. It is important for both buyers and sellers to stay informed on these metrics to make the best decisions in today's dynamic real estate market.

 

 

With over 20 years of combined experience, The Avenue Group offers exceptional service and knowledge of our local real estate market. Combined with the incredible network and resources of Glasshouse Realty Group, we offer our clientele an energetic work ethic with a detail-oriented approach. Call or text The Avenue Group real estate agents: Alison North 937-206-2273, Dara Errett 937-244-4136, Maegan Benne 706-840-2466, or Amy Fralick 937-408-5368 to get started. Or visit our website AvenueOhio.com.


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