April 2025 Market Report

As a professional in the real estate industry, it is important to understand the correlation between key metrics to make informed decisions whether you are buying or selling a property.

The Months Supply of Inventory is a metric that indicates the balance between supply and demand in the real estate market. With a current value of 1.91, this suggests that there is a low inventory of homes available for sale compared to the level of demand. This low supply can lead to increased competition among buyers, resulting in higher prices.

The 12-Month Change in Months of Inventory shows a significant increase of +28.19%, indicating that the market is experiencing a shift towards a higher level of inventory relative to demand. This change could potentially lead to a more balanced market, offering buyers more options and potentially putting downward pressure on prices.

The Median Days Homes are On the Market is only 10, which is a relatively short amount of time. This indicates that homes are selling quickly, likely due to high demand and limited inventory. Sellers may benefit from this quick turnover by receiving multiple offers and potentially selling their homes above asking price.

The Sold to List Price Percentage of 101% suggests that homes are selling for slightly above their list price on average. This indicates a competitive market where buyers are willing to pay more to secure a property in a tight inventory situation.

Lastly, the Median Sold Price of $510,000 provides a snapshot of the average price at which homes are selling in the market. This figure can be used as a reference point for buyers and sellers to gauge the value of properties in the area.

Overall, these metrics paint a picture of a real estate market that is experiencing high demand, low inventory, and competitive pricing. Buyers should be prepared to act quickly and potentially pay above asking price, while sellers may benefit from listing their homes in a market that favors quick sales and potentially higher prices.