April 2023 Market Update
Our Market Momentum Meter shows that we are currently in a balanced position. It’s great to see indications of a strong spring market for our clients.
After a tumultuous and speculative period in real estate we are now seeing an increase in sales with a moderate supply of inventory on the market, giving our clients more opportunity for buying and selling.
Seller’s market = four months of inventory or less
Balanced market = four to six months of inventory
Buyer’s market = six months or more of inventory
If 100 active listings are available in a month, and 20 homes sold in the that
same month, then there is approximately 5 months of inventory.
