August-2024 Home Sales Trends in Sebastian, Florida
The correlation between these real estate metrics provides valuable insights for both buyers and sellers in the current market.
The Months Supply of Inventory is at 4.08, indicating a balanced market where there is a relatively equal number of homes available for sale compared to the number of buyers in the market. However, the 12-Month Change in Months of Inventory has increased by +52.81%, suggesting a trend towards more inventory becoming available. This could potentially lead to more choices for buyers and increased competition among sellers.
The Median Days Homes are On the Market is 39, which is a relatively short amount of time compared to national averages. This indicates that homes are selling quickly in this market, likely due to high demand and competitive pricing. The List to Sold Price Percentage is at 97.7%, showing that homes are generally selling close to their list price. This could be a sign of strong negotiation skills among both buyers and sellers.
The Median Sold Price is $362,450, providing a benchmark for both buyers and sellers to gauge the value of properties in this market. This figure, combined with the other metrics, suggests that the market is currently stable and offers opportunities for both buyers and sellers to make informed decisions.
Overall, these metrics paint a picture of a dynamic real estate market with opportunities for both buyers and sellers. Buyers may find a good selection of homes to choose from, while sellers may benefit from quick sales and strong pricing. It's important for both parties to stay informed and work with a knowledgeable real estate professional to make the most of 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