Essentially it is a calculation between supply and demand determining how many months it would take to absorb the active inventory currently on the market. Aka how long would it take for everything currently listed to sell (based on historical data).
Just like it sounds, it indicates who has the negotiation power.
– Buyer’s Market: 6+ months of inventory
– Balanced Market: 4-6 months of inventory
– Seller’s Market: Less than 4 months of inventory
What market are we currently in?! Well, as of July 2024 + across all home types👇🏻
- Milton: Seller’s Market
- Burlington: Seller’s Market
- Oakville: Balanced Market
