Hello East Windsor Homeowners! Let’s dive into the exciting world of real estate metrics and how they can impact your selling experience.
First up, we have the Months of Supply of Inventory, which currently stands at 0.95. This means that there is less than a month’s worth of inventory available on the market, indicating high demand and potentially competitive conditions for sellers. For a point of reference, 6.0 Months would represent what we’d call a balanced market; less than that a seller’s market, more than that a buyer’s market.
Next, we have the 12-Month Change in Months of Inventory, which has decreased by an impressive 43.79%. This significant drop further emphasizes the strong seller’s market we are currently experiencing, with properties moving off the market at a rapid pace.
In terms of how quickly homes are selling, the Median Days Homes are On the Market is only 20 days. This quick turnaround time highlights the high level of buyer interest and the efficiency of the selling process in the current market.
When it comes to pricing, the List to Sold Price Percentage is at a healthy 104.7%. This means that homes are typically selling for over their listed price, indicating strong buyer demand and potential for sellers to receive competitive offers.
Lastly, the Median Sold Price in this market is $422,500. This solid median price point reflects the overall strength of the market and the potential for sellers to achieve a favorable sale price for their property.
If you’re looking for a quick value on your own property, I have an automated tool available that will give you a decent ballpark estimate. If you want a more accurate valuation, just reach out to me and we can set up a convenient time for me to take a brief tour and provide a free valuation.
Wondering what’s on the market right now in town? I have that list right here!
Overall, these metrics paint a picture of a dynamic and competitive real estate market, with strong demand and favorable conditions for sellers. If you’re considering selling your home, now may be an opportune time to take advantage of these positive trends. Happy selling!