*Please keep in mind this is for the entire Killeen-Temple Metropolitan Statistical Area (MSA). If you want zip code specific stats, I am happy to get them to you!*

First up, we have the Months Supply of Inventory, which currently stands at 3.8. This number tells us how long it would take for all the current homes on the market to be sold if no new listings were added. A lower number like this typically indicates a seller’s market, where demand is high and supply is limited.

Next, we have the 12-Month Change in Months of Inventory, which has seen a significant increase from 2.0 months in February 2023. This means that there has been a notable uptick in the number of homes available for sale over the past year. Specifically, we have seen a 57.5% increase in active listings since this time last year!  While this can provide more options for buyers, it may also indicate a potential shift in the market dynamic. Despite the increase in active listings, you can also see closed sales has actually decreased by 3.9% from February 2023.

Moving on to the Median Days Homes are On the Market, which is 79. This metric shows us how long it typically takes for a home to go under contract once it is listed. A lower number suggests a faster-moving market, where homes are in high demand and selling quickly. Right now we can see that homes are going under contract in less than 3 months, with an average total time frame from list to sale of home in 108 days.

Lastly, we have the Median Sold Price, which currently sits at $264,900, an increase of a whopping 3.5% from last year. This number gives us an idea of the average price at which homes are selling in the market. It’s important for both buyers and sellers to be aware of this figure to ensure they are making informed decisions.

In conclusion, these real estate metrics are all interconnected and provide valuable insights into the current market conditions. Whether you are a buyer or a seller, understanding these metrics can help you navigate the real estate market with confidence. So, keep an eye on these numbers and make informed decisions to achieve your real estate goals! If you want to know about your specific zip code or city, please don’t hesitate to reach out!

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