By: Alison North, Realtor & Team Lead

The Months Supply of Inventory is a key indicator of market conditions, and currently stands at 2.29 months. This means that it would take approximately 2.29 months to sell all the homes on the market at the current pace of sales. A lower supply of inventory typically indicates a seller's market, where demand exceeds supply.

 

The 12-Month Change in Months of Inventory has seen a significant increase of +37.95%. This suggests that the market has become more favorable for buyers, as there is a higher supply of homes available for sale compared to the previous year.

 

The Median Days Homes are On the Market is 24 days, which indicates that homes are selling relatively quickly in this market. This could be attributed to the low inventory levels and high demand for homes.

 

The List to Sold Price Percentage is at an impressive 99%, indicating that homes are selling very close to their listing prices. This is a positive sign for sellers as it shows that they are likely to receive close to their asking price in this market.

 

Finally, the Median Sold Price is $199,900, giving buyers and sellers a benchmark to understand the average price of homes in the market. This figure combined with the other metrics suggests that it is currently a balanced market where both buyers and sellers can find opportunities.

 

 

In conclusion, the data indicates a dynamic real estate market with low inventory levels, quick sales, and strong list to sold price percentages. Buyers may find more options to choose from compared to the previous year, while sellers can expect to receive competitive offers close to their asking price. It is crucial for both buyers and sellers to stay informed and work with a knowledgeable real estate professional to navigate this market effectively.

 

 

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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