2008 Lisle, IL 60532 Real Estate Information - Months Supply of Inventory

This is one of my favorite statistics to look at and get a true sense of what is going on out there.  Months Supply of Inventory is a great way to look at whether we are in a buyer’s or seller’s market.  Here is the overview for 2008 in Lisle:

When looking at Months Supply of Inventory for Lisle just keep in mind that a “normal/healthy” market is 4-6 months of inventory.  If we’re below that number, say 3 months of inventory, then we are in a strong seller’s market.  If we are above that numbers, say 12 months, then we are in a strong buyer’s market.  These numbers are way up all over the country not just here around Chicago.  Thus, we are in a very strong buyer’s market.

The average MSI (months supply of inventory) for Lisle is 18.5 months.  That’s high.  Even with Average Days on Market being lower than I expected this is actually higher than I thought.  A closer look at the graphic containing # of active, new and sold for Lisle will give you a good sense of why these numbers are so high.  We hit a high for Lisle with 44 months in July because of all the new listings coming on the market for the summer.  Notice the spring market with numbers like 6.8 in April and 6.9 in June.  This is when most of the buyers come out and start buying up the properties that just came on the market or were left over from the winter.  Make sense?

“Great time to buy” is what we’re all hearing and saying and this is why.  If you have any questions feel free to contact me.  If you don’t see your area and would like to know your Months Supply of Inventory I’d love to put something together.  Just ask.  If you like the statistics and would like to subscribe to this blog fell free….or if you’d just like to let me kow what you’re thinking that’s cool too.  Enjoy!