Middlesex County November 2024
Let's dive into the exciting world of real estate metrics!
First up, we have the Months Supply of Inventory, which is a key indicator of the balance between supply and demand in the housing market. At 1.47 months, this number tells us that there is a shortage of available homes for sale, which could lead to increased competition among buyers.
Next, let's look at the 12-Month Change in Months of Inventory, which is a whopping -20.11%. This significant decrease indicates a rapidly shrinking inventory of homes on the market, making it a great time for sellers to capitalize on high demand.
.png?width=705&height=370&name=Market%20Trends%20(5).png)
November 2024
Now, onto the Median Days Homes are On the Market, which is a mere 20 days. This quick turnaround time suggests that homes are selling at a rapid pace, further emphasizing the current seller's market conditions.
Moving on to the List to Sold Price Percentage, which is an impressive 102%. This means that homes are, on average, selling for 2% above their list price, showing strong buyer interest and competition in the market.
Lastly, let's talk about the Median Sold Price of $799,000. This healthy median price point indicates a strong market with potential for sellers to achieve a good return on their investment.
Overall, these metrics paint a picture of a dynamic and competitive real estate market, with low inventory, quick sales, and strong prices. Whether you're a buyer looking to secure a home in a tight market or a seller looking to capitalize on high demand, now is certainly an exciting time to be in the real estate game.
.png?width=667&height=350&name=Sold%20Listings%20(5).png)
.png?width=667&height=350&name=Months%20Supply%20of%20Inventory%20(8).png)
Overall, these metrics paint a picture of a fast-paced real estate market with low inventory levels, high demand, and competitive pricing. Buyers may need to act quickly and be prepared to potentially pay above the listing price, while sellers may benefit from the current market conditions with faster sales and potentially higher selling prices.
We hope this analysis helps you navigate the real estate market with confidence and make informed decisions.