August-2024 Home Sales Trends in Indialantic, Florida
As a real estate professional, it is important to understand the correlation between various metrics in order to provide valuable insights to both buyers and sellers.
The Months Supply of Inventory is a key indicator of the balance between supply and demand in the market. With a current figure of 5.29 months, this suggests that there is a healthy level of inventory available for buyers to choose from.
The 12-Month Change in Months of Inventory has increased significantly by +135.11%, indicating a shift towards a more balanced market compared to the previous year. This could be attributed to various factors such as changes in buyer demand or new construction projects coming onto the market.
The Median Days Homes are On the Market at 65 days shows that properties are selling relatively quickly, which could be a result of competitive pricing or high demand in the area.
The List to Sold Price Percentage of 96.3% indicates that properties are generally selling close to their listing price. This could be a reflection of strong negotiating skills from both buyers and sellers, as well as a fair pricing strategy.
Lastly, the Median Sold Price of $700,000 provides valuable information on the overall market value of properties in the area. This figure can help both buyers and sellers make informed decisions when it comes to pricing their home or making an offer on a property.
Overall, these metrics paint a picture of a dynamic real estate market with a healthy level of inventory, quick sales, and properties selling close to their listing price. This information can be valuable for buyers looking to make a purchase or sellers looking to list their property in the current market conditions.
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By
Brian Rice
Brian is the owner and managing Broker at Real Estate Kingz LLC, a Florida licensed Real Estate Brokerage. You can contact Brian at 866-735-4649 (866-Re-Kingz) or visit BrianRiceRealtor.com