August-2024 Home Sales Trends in Titusville, 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.
The Months Supply of Inventory is currently at 4.29, indicating a balanced market where supply and demand are relatively equal. However, the 12-Month Change in Months of Inventory has increased by +67.58%, suggesting a shift towards a more buyer-friendly market with an increase in available inventory.
Despite this increase in inventory, the Median Days Homes are On the Market is only 46 days, indicating that homes are still selling relatively quickly. Additionally, the List to Sold Price Percentage is at a high 96.8%, showing that sellers are receiving close to their asking price.
Furthermore, the Median Sold Price in the current market stands at $320,000, providing a benchmark for both buyers and sellers to understand the current pricing trends in the area.
Overall, these metrics suggest that while there is an increase in inventory, homes are still selling quickly and at prices close to the asking price. This information can be valuable for buyers looking to make a purchase in a market with more options and for sellers looking to price their homes competitively.
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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