August-2024 Home Sales Trends in Malabar, Florida
As we analyze the current real estate market data, we can see a correlation between several key metrics that can provide valuable insights for both buyers and sellers.
First, let's look at the Months Supply of Inventory, which currently stands at 4.4. This metric represents the number of months it would take to sell all the homes on the market based on the current sales pace. A lower number indicates a seller's market, while a higher number indicates a buyer's market.
The 12-Month Change in Months of Inventory has increased by +107.55%, indicating a significant shift in market conditions over the past year. This could suggest an increase in housing inventory, potentially giving buyers more options to choose from.
Despite the increase in inventory, the Median Days Homes are On the Market is 59, which is relatively low. This suggests that homes are selling quickly, which could be attributed to strong demand in the market.
The List to Sold Price Percentage is 99.3%, indicating that homes are generally selling very close to their list price. This could be a sign of a competitive market where sellers are receiving close to their asking price.
Finally, the Median Sold Price is $580,012, providing a benchmark for both buyers and sellers to gauge the value of homes in the market. This can help sellers determine a competitive listing price and give buyers an idea of what they can expect to pay for a home.
Overall, these metrics paint a picture of a dynamic real estate market with strong demand, limited inventory, and homes selling quickly at close to their list price. Buyers and sellers can use this information to make informed decisions in the current market conditions.
Want to dig a bit deeper into Real Estate Market trends
Subscribe to receive zip-code researched Real Estate Market Trends every month! Stay informed!
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