$300,000 – $2,000,000 price range

12 Month Evaluation – 58 sold properties in last 12 months.  58 divided by 12 months equals 4.83 properties sold per month.  There are currently 74 active comparable properties on the market.  74 divided by 4.83 equals 15 months of worth of inventory.  This means a strong buyers market.

An absorption Rate of 5-7 is considered a normal market. Less than 5 is a sellers market and more than 7 is a buyers market.

Normal Market – In a normal market there is a 5-7 month supply of homes. A normal market has a balanced level of inventory where the market is not leaning in either the seller’s or buyer’s favor.

Seller’s Market – In a seller’s market there is less than 5 months supply of homes. Since there are fewer homes to choose from, sellers are in control and buyers have to be willing to pay top dollar to get the home that they want. Multiple offers are often the norm in a seller’s market.

Buyer’s Market – In a buyer’s market there is more than 6 months supply of homes. Buyers are in control since there are so many homes from which to choose from. Sellers often have to give an incentive (pay for closing costs or pay for repairs) to buyer’s to buy their home.