Condo Inventory hits new low

While the metro market has remained balanced the condo market finally caught up. A balanced market means that there is no specific advantage for buyers or sellers. You’ll see below that inventories in many of the close in areas are below 4 months which is why there are still many multiple offer situations.

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 property 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.