Months of Inventory

Months of inventory is the measure of how many months it would take for the current inventory of homes on the market to sell, given the current pace of home sales. For example, if there are 40 homes on the market and 10 homes sell each month, there is a 4 month supply of homes for sale. Months of supply is a good indicator of whether the market is favoring buyers or sellers. Typically, a market that favors sellers has less than 6 months of supply, while more than 6 months of supply favors buyers.

For Sale vs. Sold vs. Pended

  • For Sale numbers are the snapshot of the number of property for sale at the end of the month.

  • Pended numbers represent the number of properties that went into the "pending" status for that month. 

  • New Listing numbers represent the number of properties that are new listed for that month

  • Sold numbers represent the number of properties that are sold for that month

 

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