Ladies and gentlemen, today we are going to dive into the world of real estate and explore the fascinating correlation between some key metrics that are of utmost importance to both buyers and sellers. By analyzing the data at hand, we can gain valuable insights into the current state of the Raleigh, NC market and make informed decisions.

 

Months Supply of Inventory

 

Let’s begin by examining the first metric, the Months Supply of Inventory, which stands at a healthy 1.81. This metric represents the number of months it would take to sell all the current inventory on the market, given the current sales pace. A lower number indicates a seller’s market, where demand outweighs supply, leading to potentially higher prices.

To further understand the market dynamics, let’s evaluate the 12-Month Change in Months of Inventory, which shows a decrease of -1.63%. This decrease indicates that inventory levels have been declining over the past year, which is a positive sign for sellers as it means the market is becoming more competitive, potentially leading to quicker sales and higher prices.

Days on Market

Now, let’s shift our attention to the Median Days Homes are On the Market, which is a mere 14 days. This metric highlights the average amount of time it takes for a home to go from listing to being sold. With such a short timeframe, it is evident that properties are being snatched up quickly, indicating a strong demand from buyers and a sense of urgency in the market.

List to Sold Price

 

Moving on, we have the List to Sold Price Percentage, which stands impressively at 99.6%. This metric measures the ratio between the listing price and the actual sold price of a property. A higher percentage signifies that homes are selling very close to their original asking prices, indicating a strong market with minimal price negotiations.

Median Sold Price

Lastly, let’s discuss the Median Sold Price, which currently stands at $417,500. This figure represents the middle point of all the homes sold in the given period. With a median price in this range, we can conclude that the market is robust and that buyers are willing to pay a premium for the available properties.

In summary, the correlation between these real estate metrics paints a promising picture for both buyers and sellers. The low Months Supply of Inventory and decreasing inventory levels suggest a competitive market, quick sales, and potentially higher prices. The short Median Days Homes are On the Market further strengthens this notion, emphasizing the urgency in the market. Additionally, the high List to Sold Price Percentage and the healthy Median Sold Price indicate that sellers are receiving offers very close to their asking prices, while buyers are willing to pay a premium for desirable properties.

As buyers and sellers, it is crucial to be aware of these correlations and understand the current market conditions. By staying informed, we can make strategic decisions that align with our goals and maximize our success in the real estate market.