MANOA - SINGLE FAMILY HOME END OF APRIL MARKET UPDATE
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ANALYSIS
The Month’s Supply of Inventory is a key metric that indicates the balance between supply and demand in the market. With a low Months Supply of Inventory of 2.12, it suggests that there is a limited supply of homes available for sale relative to the current demand. This typically leads to a competitive market with higher selling prices.
The Median Days Homes are On the Market is an important metric for sellers to consider as it reflects how long it takes for a home to sell on average. With a relatively low median of 54 days, it suggests that homes are selling quickly in this market.
The Sold to List Price Percentage is another metric that sellers should pay attention to. A high percentage, such as 103.8%, indicates that homes are selling for above their list price on average. This can be advantageous for sellers looking to maximize their profits.
Lastly, the Median Sold Price of $1,546,500 gives sellers an idea of the average price at which homes are selling in the market. This can help sellers set realistic expectations for the selling price of their own property.
In conclusion, the combination of a low Months Supply of Inventory, decreasing 12-Month Change in Months of Inventory, low Median Days Homes are On the Market, high Sold to List Price Percentage, and a relatively high Median Sold Price all point towards a strong seller's market. Sellers can take advantage of these favorable conditions to potentially sell their homes quickly and for a higher price.
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