Inventory at Historic Lows
As we prepare for the Spring real estate market, the inventory of available homes for sale remains at historic lows. Typically a “balanced” real estate market is defined as having 5-6 months of inventory. “Months of Inventory” is an industry term – meaning if no new listings were to come to market – how long would it take to sell the current supply of homes for sale?
- Balanced Market is 5-6 months of inventory
- Buyer’s Market: More than 6 months
- Seller’s Market: Less than 5 months
To put things in perspective, the current inventory of homes for sale in the MD-DC-VA is only 2.1 months!
Remine Pro is a powerful tool that is included in Agent’s Bright MLS Dues. Using Listing Data, Public Records, and Predictive Analytics, agents can use Remine Pro to find new business opportunities. Watch this video for a basic introduction to this invaluable resource.