summit county - Real Market Reports
REAL ESTATE MARKET REPORT
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Sunday, December 3
2017
TABLE OF CONTENTS Charts and Commentary ……………………………………………….. Market Summary Table ……………………………………………….. Glossary ………………………………………………………………...
The Smits Team Amy Smits 507 Main Street Frisco, Colorado 80443 www.resorthomevalue.com www.vailsummithomesearch.com [email protected] [email protected] 970-368-7533 970-418-0183
www.facebook.com/365Summit Century 21, The Smits Team
Real Market Reports www.RealMarketReports.com
Pages 1-2 Page 3 Page 4
REAL ESTATE MARKET REPORT
SUMMIT COUNTY Sunday, December 3, 2017
The Smits Team Amy Smits [email protected] 970-368-7533
Let's take a look
The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply.
at the real estate market. Currently there are 257 sales pending in the market overall, leaving 328 listings still for sale. The resulting pending ratio is 43.9% (257 divided by 585). So you might be asking yourself, that's great... but what exactly does it mean? I'm glad you asked!
"Current inventory is described as active."
Taking a closer look, we notice that the $600K - $900K price range has a relatively large number of contracts pending sale. We also notice that the $600K - $900K price range has a relatively large inventory of properties for sale at 72 listings. The median list price (or asking price) for all properties in this market is $1,058,500.
Number of Listings For Sale vs. Pending Contract
Properties For Sale Contracts Pending
Summit County
90
Updated 12/3/2017, RealMarketReports.com Copyright © The Smits Team
80 70 60 50 40 30 20 10
Num Sold vs. Off-Market (Last 6 mos.)
Sold Off-Market
Summit County
600
Updated 12/3/2017, RealMarketReports.com Copyright © The Smits Team
500 400 300 200 100
Real Market Reports www.RealMarketReports.com
1
$4.2M
$3.9M
$3.6M
$3.3M
$3.0M
$2.7M
$2.4M
$2.1M
$1.8M
$1.5M
$1.2M
$900K
$600K
$300K
$0K
0
$4.2M
$3.9M
$3.6M
$3.3M
$3.0M
$2.7M
$2.4M
$2.1M
$1.8M
$1.5M
$1.2M
$900K
$600K
$0K
$300K
0
A total of 1191 contracts have closed in the last 6 months with a median sold price of $550,000. Breaking it down, we notice that the $300K - $600K price range contains the highest number of sold listings. Alternatively, a total of 194 listings have failed to sell in that same period of time. Listings may fail to sell for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. The $600K - $900K price range has the highest number of off-market listings at 52 properties.
Market Dashboard
REAL ESTATE MARKET REPORT
SUMMIT COUNTY Sunday, December 3, 2017
The Smits Team Amy Smits [email protected] 970-368-7533
Looking at the chart to the right, you might be wondering why average days on market (DOM) is important. This is a useful measurement because it can help us to determine whether we are in a buyer's market (indicated by high DOM), or a seller's market (indicated by low DOM). Active listings (properties for sale) have been on the market for a median time of 118 days.
Median Days on Market (DOM)
Sold For Sale
Summit County
300
Updated 12/3/2017, RealMarketReports.com Copyright © The Smits Team
250 200 150 100
Analysis of sold properties for the last six months reveals a median sold price of $550,000 and 20 days on market. Notice that properties in the $0K - $300K price range have sold quickest over the last six months.
50
The recent history of sales can be seen in the two charts below. The median sold price for the last 30 days was $582,500 with a DOM of 32 days.
"The median list-to-sales ratio for this area is 97.3%."
Since the recent DOM is greater than the median DOM for the last 6 months, it is a negative indicator for demand. It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy, or seasonal changes.
Ratios are simple ways to express the difference between two values such as list price and sold price. In our case, we typically use the list-to-sale ratio to determine the percentage of the final list price that the buyer ultimately paid. It is a very common method to help buyers decide how much to offer on a property.
Median Sold Prices
$4.2M
$3.9M
$3.6M
$3.3M
$3.0M
$2.7M
$2.4M
$2.1M
$1.8M
$1.5M
$1.2M
$900K
$600K
$300K
$0K
0
Analysis of the absorption rate indicates an inventory of 1.7 months based on the last 6 months of sales. This estimate is often used to determine how long it would take to sell off the current inventory of properties if all conditions remained the same. It is significant to mention that this estimate does not take into consideration any additional properties that will come onto the market in the future.
Median Days on Market (Sold)
Summit County
Summit County
$700K
35
$600K
30
$500K
25
$400K
20
$300K
15
$200K
10 Copyright © The Smits Team Updated 12/3/2017, RealMarketReports.com
$100K $0K Jul
Aug
Sep
Real Market Reports www.RealMarketReports.com
Oct
Nov
Copyright © The Smits Team Updated 12/3/2017, RealMarketReports.com
5 0
Dec
2
Jul
Aug
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Dec
Market Dashboard
REAL ESTATE MARKET REPORT
SUMMIT COUNTY Sunday, December 3, 2017
The Smits Team Amy Smits [email protected] 970-368-7533
257
MARKET SUMMARY TABLE A = Average Value M = Median Value N/A = Not Available
Price Range
328
Low
High
Num #
$0
$299,999
7
$300,000
$599,999
60
$600,000
$899,999
72
$900,000
$1,199,999
48
$1,200,000
$1,499,999
31
$1,500,000
$1,799,999
29
$1,800,000
$2,099,999
18
$2,100,000
$2,399,999
13
$2,400,000
$2,699,999
10
$2,700,000
$2,999,999
11
$3,000,000
$3,299,999
6
$3,300,000
$3,599,999
4
$3,600,000
$3,899,999
4
$3,900,000
$4,199,999
2
$4,200,000
+
13
Market Totals
328
194
PENDING [2]
1191
ACTIVE [1]
Days on Market
Current List Price
A
68
$ 224,900
M
36
$ 235,000
A
75
$ 476,077
M
53
$ 484,450
A
137
$ 756,605
M
110
$ 749,000
A
187
$ 1,051,702
M
155
$ 1,043,380
A
306
$ 1,369,569
M
150
$ 1,375,000
A
143
$ 1,678,190
M
85
$ 1,695,000
A
200
$ 1,960,738
M
171
$ 1,984,444
A
147
$ 2,308,500
M
108
$ 2,300,000
A
155
$ 2,552,500
M
133
$ 2,582,500
A
213
$ 2,866,273
M
205
$ 2,849,000
A
242
$ 3,169,167
M
187
$ 3,160,000
A
188
$ 3,409,500
M
174
$ 3,419,500
A
284
$ 3,701,750
M
228
$ 3,663,500
A
140
$ 3,999,000
M
140
$ 3,999,000
A
283
$ 6,048,154
M
199
$ 5,799,000
OFF-MARKET (last 6 mos) [3]
Num #
Pend Ratio
Num #
Num #
18
72%
8
163
65
52%
48
484
83
54%
52
308
35
42%
26
110
18
37%
16
55
15
34%
14
25
4
18%
11
11
3
19%
6
11
11
52%
5
10
3
21%
0
6
0
0
4
0
3
1
0
1
0
0
1
1
3
2
194
1191
2
13%
257
44%
ABSORPTION RATE (months of inventory)
SOLD/CLOSED (last 6 months) [4]
Days on Market
Original List Price
Final List Price
Sold/ Closed Price
ListSale Ratio
A
27
$ 249,201
$ 233,410
$ 229,452
98%
M
10
$ 245,000
$ 245,000
$ 242,000
99%
A
38
$ 444,746
$ 439,581
$ 431,576
98%
M
13
$ 439,000
$ 435,000
$ 427,000
98%
A
52
$ 790,361
$ 745,227
$ 732,491
98%
M
26
$ 749,250
$ 739,450
$ 725,000
98%
A
67
$ 1,069,522
$ 1,055,019
$ 1,015,106
96%
M
36
$ 1,049,500
$ 1,009,786
$ 992,500
98%
A
77
$ 1,409,404
$ 1,376,960
$ 1,324,986
96%
M
31
$ 1,399,000
$ 1,395,000
$ 1,325,000
95%
A
185
$ 1,794,422
$ 1,720,102
$ 1,625,540
95%
M
92
$ 1,740,000
$ 1,695,000
$ 1,620,000
96%
A
193
$ 1,987,318
$ 1,960,909
$ 1,892,073
96%
M
102
$ 1,949,000
$ 1,925,000
$ 1,850,000
96%
A
188
$ 2,391,045
$ 2,377,227
$ 2,249,727
95%
M
115
$ 2,399,000
$ 2,399,000
$ 2,212,000
92%
A
102
$ 2,659,300
$ 2,609,400
$ 2,514,750
96%
M
18
$ 2,590,000
$ 2,590,000
$ 2,500,000
97%
A
288
$ 2,574,833
$ 2,963,000
$ 2,854,385
96%
M
245
$ 2,994,500
$ 2,944,000
$ 2,815,000
96%
A
234
$ 3,437,000
$ 3,349,750
$ 3,034,375
91%
M
218
$ 3,449,500
$ 3,275,000
$ 3,025,000
92%
A
86
$ 3,475,000
$ 3,475,000
$ 3,350,000
96%
M
86
$ 3,475,000
$ 3,475,000
$ 3,350,000
96%
A
128
$ 4,150,000
$ 4,150,000
$ 4,120,000
99%
M
128
$ 4,150,000
$ 4,150,000
$ 4,120,000
99%
A
257
$ 4,746,000
$ 4,846,000
$ 4,640,000
96%
M
257
$ 4,746,000
$ 4,846,000
$ 4,640,000
96%
0.3 0.7 1.4 2.6 3.4 7 9.8 7.1 6 11 9 24
12 39 1.7
Market Averages
165 $1,471,531
53
$ 722,420
$ 703,130
$ 683,280 97%
Market Medians
118 $1,058,500
20
$ 569,900
$ 565,000
$ 550,000 97%
Date Range (Off-Market & Sold) = 06/04/2017 to 12/03/2017 Data believed to be accurate but not guaranteed.
Est. Mos.
Favors Sellers
Favors Buyers
Status = [1] Active; [2] Pending; [3] Withdrawn, Expired; [4] Sold Area = Breckenridge, Copper Mountain, Dillon/Summit Cove, Frisco, Keystone, Wildernest/Silverthorne PropertySubType = Single Family, Condo, Townhouse, Duplex
Real Market Reports www.RealMarketReports.com
3
Market Summary Table
REAL ESTATE MARKET REPORT
SUMMIT COUNTY Sunday, December 3, 2017
The Smits Team Amy Smits [email protected] 970-368-7533
1. PROPERTIES FOR SALE (ACTIVE) a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase agreement. b. Days on Market (DOM): The marketing period of currently active listings. This does not account for some listings which have had a previous listing period, but were re-entered as a new listing. c. Current List Price: The price that a property seller is currently asking. 2. CONTRACTS PENDING a. Number Pending: The number of current listings for which a contract has been signed but has not yet closed. b. Pending Ratio: Sometimes called a “list-to-pending ratio”. This is a measure of how fast properties are going under contract vs. how fast they are being listed. Pending Ratio =
P (Number of Pending Listings) A+P (Number of Active + Pending)
(P) represents properties that buyers have chosen (A+P) represents the entire pool from which they have chosen 3. OFF-MARKET a. Number Off-Market: The number of listing agreements that have failed to close in the last 6 months. Some owners may choose to re-offer their property for sale. 4. PROPERTIES SOLD (CLOSED CONTRACT) a. Number Sold: The number of properties that have gone to a closing in the last 6 months. b. Days on Market (DOM): The marketing time it has taken properties to sell in the last 6 months. c. Original List Price: The price at which a sold property was originally marketed. d. Final List Price: The price at which a sold property was marketed just prior to selling. e. Sold/Closed Price: The price for which a property sold. f.
List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property. List to Sales Ratio =
Sold Price Final List Price
5. ABSORPTION RATE / MONTHS OF INVENTORY a. Absorption Rate / Months of Inventory: An estimate of how fast listings are currently selling measured in months. For example, if 100 properties sell per month and there are 800 properties for sale - there is an 8 month supply of inventory before counting the additional properties that will come on the market.
Real Market Reports www.RealMarketReports.com
4
Glossary
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Sunday, December 3
2017
TABLE OF CONTENTS Charts and Commentary ……………………………………………….. Market Summary Table ……………………………………………….. Glossary ………………………………………………………………...
The Smits Team Amy Smits 507 Main Street Frisco, Colorado 80443 www.resorthomevalue.com www.vailsummithomesearch.com [email protected] [email protected] 970-368-7533 970-418-0183
www.facebook.com/365Summit Century 21, The Smits Team
Real Market Reports www.RealMarketReports.com
Pages 1-2 Page 3 Page 4
REAL ESTATE MARKET REPORT
SUMMIT COUNTY Sunday, December 3, 2017
The Smits Team Amy Smits [email protected] 970-368-7533
Let's take a look
The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply.
at the real estate market. Currently there are 257 sales pending in the market overall, leaving 328 listings still for sale. The resulting pending ratio is 43.9% (257 divided by 585). So you might be asking yourself, that's great... but what exactly does it mean? I'm glad you asked!
"Current inventory is described as active."
Taking a closer look, we notice that the $600K - $900K price range has a relatively large number of contracts pending sale. We also notice that the $600K - $900K price range has a relatively large inventory of properties for sale at 72 listings. The median list price (or asking price) for all properties in this market is $1,058,500.
Number of Listings For Sale vs. Pending Contract
Properties For Sale Contracts Pending
Summit County
90
Updated 12/3/2017, RealMarketReports.com Copyright © The Smits Team
80 70 60 50 40 30 20 10
Num Sold vs. Off-Market (Last 6 mos.)
Sold Off-Market
Summit County
600
Updated 12/3/2017, RealMarketReports.com Copyright © The Smits Team
500 400 300 200 100
Real Market Reports www.RealMarketReports.com
1
$4.2M
$3.9M
$3.6M
$3.3M
$3.0M
$2.7M
$2.4M
$2.1M
$1.8M
$1.5M
$1.2M
$900K
$600K
$300K
$0K
0
$4.2M
$3.9M
$3.6M
$3.3M
$3.0M
$2.7M
$2.4M
$2.1M
$1.8M
$1.5M
$1.2M
$900K
$600K
$0K
$300K
0
A total of 1191 contracts have closed in the last 6 months with a median sold price of $550,000. Breaking it down, we notice that the $300K - $600K price range contains the highest number of sold listings. Alternatively, a total of 194 listings have failed to sell in that same period of time. Listings may fail to sell for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. The $600K - $900K price range has the highest number of off-market listings at 52 properties.
Market Dashboard
REAL ESTATE MARKET REPORT
SUMMIT COUNTY Sunday, December 3, 2017
The Smits Team Amy Smits [email protected] 970-368-7533
Looking at the chart to the right, you might be wondering why average days on market (DOM) is important. This is a useful measurement because it can help us to determine whether we are in a buyer's market (indicated by high DOM), or a seller's market (indicated by low DOM). Active listings (properties for sale) have been on the market for a median time of 118 days.
Median Days on Market (DOM)
Sold For Sale
Summit County
300
Updated 12/3/2017, RealMarketReports.com Copyright © The Smits Team
250 200 150 100
Analysis of sold properties for the last six months reveals a median sold price of $550,000 and 20 days on market. Notice that properties in the $0K - $300K price range have sold quickest over the last six months.
50
The recent history of sales can be seen in the two charts below. The median sold price for the last 30 days was $582,500 with a DOM of 32 days.
"The median list-to-sales ratio for this area is 97.3%."
Since the recent DOM is greater than the median DOM for the last 6 months, it is a negative indicator for demand. It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy, or seasonal changes.
Ratios are simple ways to express the difference between two values such as list price and sold price. In our case, we typically use the list-to-sale ratio to determine the percentage of the final list price that the buyer ultimately paid. It is a very common method to help buyers decide how much to offer on a property.
Median Sold Prices
$4.2M
$3.9M
$3.6M
$3.3M
$3.0M
$2.7M
$2.4M
$2.1M
$1.8M
$1.5M
$1.2M
$900K
$600K
$300K
$0K
0
Analysis of the absorption rate indicates an inventory of 1.7 months based on the last 6 months of sales. This estimate is often used to determine how long it would take to sell off the current inventory of properties if all conditions remained the same. It is significant to mention that this estimate does not take into consideration any additional properties that will come onto the market in the future.
Median Days on Market (Sold)
Summit County
Summit County
$700K
35
$600K
30
$500K
25
$400K
20
$300K
15
$200K
10 Copyright © The Smits Team Updated 12/3/2017, RealMarketReports.com
$100K $0K Jul
Aug
Sep
Real Market Reports www.RealMarketReports.com
Oct
Nov
Copyright © The Smits Team Updated 12/3/2017, RealMarketReports.com
5 0
Dec
2
Jul
Aug
Sep
Oct
Nov
Dec
Market Dashboard
REAL ESTATE MARKET REPORT
SUMMIT COUNTY Sunday, December 3, 2017
The Smits Team Amy Smits [email protected] 970-368-7533
257
MARKET SUMMARY TABLE A = Average Value M = Median Value N/A = Not Available
Price Range
328
Low
High
Num #
$0
$299,999
7
$300,000
$599,999
60
$600,000
$899,999
72
$900,000
$1,199,999
48
$1,200,000
$1,499,999
31
$1,500,000
$1,799,999
29
$1,800,000
$2,099,999
18
$2,100,000
$2,399,999
13
$2,400,000
$2,699,999
10
$2,700,000
$2,999,999
11
$3,000,000
$3,299,999
6
$3,300,000
$3,599,999
4
$3,600,000
$3,899,999
4
$3,900,000
$4,199,999
2
$4,200,000
+
13
Market Totals
328
194
PENDING [2]
1191
ACTIVE [1]
Days on Market
Current List Price
A
68
$ 224,900
M
36
$ 235,000
A
75
$ 476,077
M
53
$ 484,450
A
137
$ 756,605
M
110
$ 749,000
A
187
$ 1,051,702
M
155
$ 1,043,380
A
306
$ 1,369,569
M
150
$ 1,375,000
A
143
$ 1,678,190
M
85
$ 1,695,000
A
200
$ 1,960,738
M
171
$ 1,984,444
A
147
$ 2,308,500
M
108
$ 2,300,000
A
155
$ 2,552,500
M
133
$ 2,582,500
A
213
$ 2,866,273
M
205
$ 2,849,000
A
242
$ 3,169,167
M
187
$ 3,160,000
A
188
$ 3,409,500
M
174
$ 3,419,500
A
284
$ 3,701,750
M
228
$ 3,663,500
A
140
$ 3,999,000
M
140
$ 3,999,000
A
283
$ 6,048,154
M
199
$ 5,799,000
OFF-MARKET (last 6 mos) [3]
Num #
Pend Ratio
Num #
Num #
18
72%
8
163
65
52%
48
484
83
54%
52
308
35
42%
26
110
18
37%
16
55
15
34%
14
25
4
18%
11
11
3
19%
6
11
11
52%
5
10
3
21%
0
6
0
0
4
0
3
1
0
1
0
0
1
1
3
2
194
1191
2
13%
257
44%
ABSORPTION RATE (months of inventory)
SOLD/CLOSED (last 6 months) [4]
Days on Market
Original List Price
Final List Price
Sold/ Closed Price
ListSale Ratio
A
27
$ 249,201
$ 233,410
$ 229,452
98%
M
10
$ 245,000
$ 245,000
$ 242,000
99%
A
38
$ 444,746
$ 439,581
$ 431,576
98%
M
13
$ 439,000
$ 435,000
$ 427,000
98%
A
52
$ 790,361
$ 745,227
$ 732,491
98%
M
26
$ 749,250
$ 739,450
$ 725,000
98%
A
67
$ 1,069,522
$ 1,055,019
$ 1,015,106
96%
M
36
$ 1,049,500
$ 1,009,786
$ 992,500
98%
A
77
$ 1,409,404
$ 1,376,960
$ 1,324,986
96%
M
31
$ 1,399,000
$ 1,395,000
$ 1,325,000
95%
A
185
$ 1,794,422
$ 1,720,102
$ 1,625,540
95%
M
92
$ 1,740,000
$ 1,695,000
$ 1,620,000
96%
A
193
$ 1,987,318
$ 1,960,909
$ 1,892,073
96%
M
102
$ 1,949,000
$ 1,925,000
$ 1,850,000
96%
A
188
$ 2,391,045
$ 2,377,227
$ 2,249,727
95%
M
115
$ 2,399,000
$ 2,399,000
$ 2,212,000
92%
A
102
$ 2,659,300
$ 2,609,400
$ 2,514,750
96%
M
18
$ 2,590,000
$ 2,590,000
$ 2,500,000
97%
A
288
$ 2,574,833
$ 2,963,000
$ 2,854,385
96%
M
245
$ 2,994,500
$ 2,944,000
$ 2,815,000
96%
A
234
$ 3,437,000
$ 3,349,750
$ 3,034,375
91%
M
218
$ 3,449,500
$ 3,275,000
$ 3,025,000
92%
A
86
$ 3,475,000
$ 3,475,000
$ 3,350,000
96%
M
86
$ 3,475,000
$ 3,475,000
$ 3,350,000
96%
A
128
$ 4,150,000
$ 4,150,000
$ 4,120,000
99%
M
128
$ 4,150,000
$ 4,150,000
$ 4,120,000
99%
A
257
$ 4,746,000
$ 4,846,000
$ 4,640,000
96%
M
257
$ 4,746,000
$ 4,846,000
$ 4,640,000
96%
0.3 0.7 1.4 2.6 3.4 7 9.8 7.1 6 11 9 24
12 39 1.7
Market Averages
165 $1,471,531
53
$ 722,420
$ 703,130
$ 683,280 97%
Market Medians
118 $1,058,500
20
$ 569,900
$ 565,000
$ 550,000 97%
Date Range (Off-Market & Sold) = 06/04/2017 to 12/03/2017 Data believed to be accurate but not guaranteed.
Est. Mos.
Favors Sellers
Favors Buyers
Status = [1] Active; [2] Pending; [3] Withdrawn, Expired; [4] Sold Area = Breckenridge, Copper Mountain, Dillon/Summit Cove, Frisco, Keystone, Wildernest/Silverthorne PropertySubType = Single Family, Condo, Townhouse, Duplex
Real Market Reports www.RealMarketReports.com
3
Market Summary Table
REAL ESTATE MARKET REPORT
SUMMIT COUNTY Sunday, December 3, 2017
The Smits Team Amy Smits [email protected] 970-368-7533
1. PROPERTIES FOR SALE (ACTIVE) a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase agreement. b. Days on Market (DOM): The marketing period of currently active listings. This does not account for some listings which have had a previous listing period, but were re-entered as a new listing. c. Current List Price: The price that a property seller is currently asking. 2. CONTRACTS PENDING a. Number Pending: The number of current listings for which a contract has been signed but has not yet closed. b. Pending Ratio: Sometimes called a “list-to-pending ratio”. This is a measure of how fast properties are going under contract vs. how fast they are being listed. Pending Ratio =
P (Number of Pending Listings) A+P (Number of Active + Pending)
(P) represents properties that buyers have chosen (A+P) represents the entire pool from which they have chosen 3. OFF-MARKET a. Number Off-Market: The number of listing agreements that have failed to close in the last 6 months. Some owners may choose to re-offer their property for sale. 4. PROPERTIES SOLD (CLOSED CONTRACT) a. Number Sold: The number of properties that have gone to a closing in the last 6 months. b. Days on Market (DOM): The marketing time it has taken properties to sell in the last 6 months. c. Original List Price: The price at which a sold property was originally marketed. d. Final List Price: The price at which a sold property was marketed just prior to selling. e. Sold/Closed Price: The price for which a property sold. f.
List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property. List to Sales Ratio =
Sold Price Final List Price
5. ABSORPTION RATE / MONTHS OF INVENTORY a. Absorption Rate / Months of Inventory: An estimate of how fast listings are currently selling measured in months. For example, if 100 properties sell per month and there are 800 properties for sale - there is an 8 month supply of inventory before counting the additional properties that will come on the market.
Real Market Reports www.RealMarketReports.com
4
Glossary
