June 12, 2015
One glance at our neighborhood stats page shows something we haven't seen much of in the last few years ... a seller's market!
Several popular neighborhoods have fewer than 3 months of inventory:
A seller's market occurs when there just aren't enough homes on the market to meet he demand. For example, in Belmont, roughly 3 homes per month have sold there in the past year. But only 4 homes are currently on the market, which means there's just about 1 month of inventory in that neighborhood.
A "normal" amount of inventory is about 6 months, which indicates a balanced market (neither a buyer's market nor a seller's market). In a nutshell, if you're a homeowner in one of the above neighborhoods and have been on the fence about selling, now is as good a time as you'll see.
Remember, we keep our neighborhood stats page updated every month, so feel free to bookmark it & keep tabs on your 'hood.
