Current Local Market Trends: 43452

When it comes to real estate, there are several key metrics that can give us valuable insights into the Port Clinton / Catawba Market. Let's take a closer look at how these metrics correlate and what they mean for both buyers and sellers. First, let's talk about the months supply of inventory, which currently stands at 2.9 4. This metric represents the number of months it would take to sell all the available homes on the market at the current pace of sales. A lower number indicates a seller's market, where demand exceeds supply, resulting in potentially higher prices. Now, let's consider the 12-month change in months of inventory, which has seen a significant increase of 71.93% . This means that compared to the same period last year, the supply of homes has increased, potentially creating a more balanced market. This increase could be due to various factors such as an influx of new listings or a slight decrease in demand. Moving on, the median days homes are on the market is 19 . This metric provides an indication of how quickly homes are selling. A lower number suggests a faster-paced market with high demand and potentially multiple offers on properties. Buyers should be prepared to act swiftly in such a market, while sellers may have an advantage in terms of faster sales. Next, let's look at the list to sold price percentage, which is currently at 96.9% . This metric shows the percentage at which homes are selling compared to their listing price. A higher percentage indicates that sellers are achieving a high percentage of their asking price, which can be a positive sign for sellers. However, buyers should still negotiate and conduct thorough market research to ensure they are getting fair value for their investment. Lastly, the median sold price stands at $270,000 . This represents the middle point of all the sold prices in a given area or market. It gives us a sense of the general price range of homes being sold. Buyers can use this information to gauge their budget and expectations, while sellers can use it as a reference point when setting their listing price. In summary, these real estate metrics provide us with a comprehensive view of the market. The months supply of inventory, the change in months of inventory, the median days homes are on the market, the list to sold price percentage, and the median sold price all work together to give buyers and sellers a better understanding of the current conditions. Whether you're looking to buy or sell, it's essential to keep an eye on these metrics to make informed decisions in the real estate market.