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December 2024 Century Village Market Update


As a potential buyer or seller in the real estate market, it is important to understand the correlation between various metrics to make informed decisions. Let's break down the data provided to gain insights into the current market conditions.


First, the Months Supply of Inventory is at 11.25, indicating that it would take approximately 11.25 months to sell all the current inventory of homes on the market at the current sales pace. This metric is a key indicator of market supply and demand dynamics.

The 12-Month Change in Months of Inventory is +65.44%, showing a significant increase in the supply of homes compared to the previous year. This suggests a shift towards a more balanced market, where buyers may have more options to choose from.


The Median Days Homes are On the Market is 71, indicating the average number of days it takes for a home to sell. A lower number suggests a more competitive market, while a higher number may indicate a slower pace of sales.


The List to Sold Price Percentage is 90.5%, showing that homes are typically selling for about 90.5% of their list price. This metric can give insight into the negotiation power of buyers and sellers in the market.


Lastly, the Median Sold Price is $111,000, providing a benchmark for the average sales price of homes in the area. This can be useful for setting realistic expectations for both buyers and sellers.

Overall, the data suggests a market with a moderate level of inventory, increasing supply compared to the previous year, and homes taking an average of 71 days to sell. With a list to sold price percentage of 90.5% and a median sold price of $111,000, buyers and sellers can use this information to navigate the current real estate landscape effectively.

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