It will still be a while before we have an accurate bead on the real estate market post-Helene, but I have a snapshot of the October numbers.  

For Buyers: 

The real estate market showed strong indicators of a seller's market with a Months Supply of Inventory at 3.44. This means that at the current rate of sales, it would take approximately 3.44 months to sell all of the homes on the market.

The 12-Month Change in Months of Inventory has decreased significantly by -48.11%, indicating a trend of decreasing inventory levels over the past year. This suggests that the market may be becoming more competitive for buyers as supply decreases.

The Median Days Homes were on the Market was 39, which indicates that homes are selling relatively quickly. This could be attributed to the low inventory levels and high demand in the market.

The List to Sold Price Percentage was at a strong 98%, meaning that homes were typically selling very close to their listing price. This could be a result of the competitive market conditions driving prices up.

Lastly, the Median Sold Price was $402,000 (down 20.4% month over month). This could be appealing to both buyers and sellers looking to make a move in the current market.

Overall, these metrics paint a picture of a dynamic real estate market with low inventory, quick sales, and strong pricing. Buyers and sellers should be prepared to act quickly and strategically in order to navigate this competitive market successfully.

For Sellers: 

As a Seller, understanding the correlation between key real estate metrics can provide valuable insight into the current market conditions and guide your decision-making process. 

The Months Supply of Inventory, which is was at 3.44, indicates the number of months it would take to sell all the existing homes on the market if no new listings were added. A lower months supply of inventory typically signifies a seller's market, where there is high demand and limited supply, leading to quicker sales and potentially higher prices.

The 12-Month Change in Months of Inventory, which decreased by -48.11%, further supports the notion of a seller's market. This sharp decline in inventory suggests that homes are selling at a faster rate compared to the previous year, indicating strong buyer interest and competition.

The Median Days Homes are On the Market, at 39 days, reflects the average amount of time it takes for a home to sell. With homes moving relatively quickly, sellers can hopefully expect a timely sales process and potentially multiple offers.

The List to Sold Price Percentage, at 98%, indicated that homes were typically selling very close to their list price. This high percentage suggests that sellers are pricing their homes accurately and that buyers are willing to pay close to the asking price.

Lastly, the Median Sold Price of $402,000 gives sellers an idea of the average selling price in the current market.

In conclusion, the combination of a low Months Supply of Inventory, decreasing inventory levels, quick sales, high list to sold price percentage, and a solid median sold price all point towards a favorable market for sellers. With strong buyer demand and limited inventory, now may be an opportune time to list your home for sale.

Note: Statistics and data are valuable tools, but they're only as reliable as the quality of information they’re based on. If you’re considering buying or selling a home, speaking with an experienced real estate professional who can interpret market trends accurately and provide context beyond the numbers is essential. Rather than relying solely on generalized data, a seasoned agent offers tailored guidance, helping you make well-informed decisions throughout the process.

Post Data Source: Realtors Property Resource (RPR)

Post Disclaimer 

The information provided is for general informational purposes only and is not intended to be financial, safety, security, legal, or investment advice. No warranties or guarantees are made regarding the accuracy, completeness, or reliability of the information. Always consult with a qualified professional for advice specific to your situation.