Rising prices have brought more sellers to the market but buyer activity remains strong. Inventory is stable with the exception of the westhills and downtown which saw inventory drop substantially. Watch for inventory to rise as we head into winter.
This localized home inventory report helps give context to the metro statistics that often make headlines. Real estate is a local affair and this report shows which parts of town and which types of properties are selling and which ones are sitting. Inventory is figured in months with 6 months being balanced, less than 6 months favoring sellers and more than 6 months favoring buyers. I use current active listings and 6 months of sold data from the RMLS to create this report.