Report
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Welcome to the Edition of your personalized, hyper-local real estate report. MarketInsights™ provides a snapshot of the real estate market in your chosen neighborhood. We hope that this report will keep you updated with market activity and trends, whether you are thinking of buying, selling, investing, or you are just curious as to what the market is doing in your specified area.
In this report, you will find six months of data on the neighborhood you selected in your Property Tracker account.
Activity Highlights ()
These numbers represent the number of homes that have been listed, went pending (accepted an offer), sold, or came off the market month over month. In this case, we are presenting vs. .
Total Activity
Six-month Comparison
These numbers represent the number of homes that have been listed, went pending (accepted an offer), sold, or came off the market now versus 6-months ago. In this case, we are presenting vs. . The six month trend gives a different perspective on how the market is shifting.
Total Activity Last Quarter
Inventory
- Newly listed
- Number of homes listed during that month
- Pending
- Number of homes where an offer was accepted, but transaction did not close
- Sold
- Number of homes sold during that month
- Off Market
- Number of homes taken off the market because the listing expired or was cancelled, but the home did not sell
- Seller's Market
- With 0 to 3 months of inventory, we are experiencing a seller's market, or a lack of homes for sale. Months of inventory refers to the amount of time it would take to sell all the homes on the market at the current rate of sales with no new listings being available for sale. Typically, when there are three months of inventory or less, sellers have the advantage because homes are selling quickly and could experience multiple-offer situations. Historically, these conditions drive the prices of homes higher.
- Buyer's Market
- With 6+ months of inventory, we are experiencing a buyer's market, or an excess of homes available for sale. Months of inventory refers to the amount of time it would take to sell all the homes on the market at the current rate of sales with no new listings being available for sale. Typically, when there are six months or more of inventory, buyers have the advantage because there is less competition for homes. Historically, these conditions can lead to a softening of prices of homes.
- Neutral Market
- With 3 to 6 months of inventory, we are experiencing a neutral market, or a balance of available homes for sale. Months of inventory refers to the amount of time it would take to sell all the homes on the market at the current rate of sales with no new listings being available for sale. Typically, when there are three to six months of inventory, neither buyers nor sellers have the advantage because there is a balance of homes available for sale and buyers purchasing homes. Historically, these conditions tend to keep prices relatively flat.