2008 Westmont, IL 60559 Real Estate Information - Months Supply of Inventory

My favorite.  Months Supply of Inventory.  One of the keys that I watch when trying to get a sense of whether we’re in a buyer’s or seller’s market.  Westmont’s months supply of inventory is similar to every where else…high.

The average Months Supply of Inventory (MSI) for Westmont in 2008 was 16 months.  A normal market will yield an MSI of 4-6 months.  Anything higher puts us in a buyer’s market and anything lower would be a seller’s market.  The further we get from that 4-6 month range the stronger that market becomes for a buyer or seller.  At 16 months in Westmont we are looking at a STRONG buyer’s market.

Combine this with the # of active, new and sold listings and you get the idea that this is not a quick fix.  The pace we are selling compared to the pace we are listing is way off.  This helps add to market time and all of this combined hurts our median and average sales prices.  Right now in Westmont 6% of homes are under contract.  Example. if we had 100 homes for sale only 6 would be under contract.  Wow!  Not to insult your ability to do math I just think that saying it out loud is more effective.

Enjoy.  Let me know if you have any questions.  If you would like to see something specific just let me know and as always feel free to subscribe to the blog.