Looking at these two graphs as well as the months on average can really guide you on the markets in your price range. As you can see the markets are a lot more competitive under $2M than over.
Year to Date Available
In an effort to define the different markets as a good time to buy or sale I believe one needs to look at the months on average it would take to sell through the inventory we have. The first chart is the 2014 inventory vs. sold numbers. The second chart is inventory today vs. sold properties.
| Price Range |
1/31/14 |
2/28/14 |
3/28/14 |
4/25/14 |
5/16/14 |
7/31/14 |
12/31/14 |
| 0-$500K |
10.2 |
6.0 |
7.0 |
6.1 |
5.5 |
5.6 |
3 |
| $500K-$1M |
9.7 |
8.6 |
9.0 |
8.7 |
8.6 |
5.2 |
3.7 |
| $1M-$1.5M |
5.5 |
9.5 |
8.9 |
10.3 |
7.8 |
6.4 |
4.4 |
| $1.5M-$2M |
8 |
14.5 |
13.6 |
18.4 |
17.8 |
11 |
6.7 |
| $2M-$3M |
4.7 |
9.2 |
11.6 |
14.3 |
14.2 |
11.1 |
7 |
| $3M-$4M |
11 |
13.1 |
11.8 |
14.2 |
14.5 |
10.4 |
9 |
| $4M-$5M |
11.9 |
8.9 |
13.1 |
14.4 |
22.1 |
17.7 |
18.4 |
| $5M-$7.5M |
20.7 |
32.0 |
39.5 |
59 |
56.6 |
32 |
25.1 |
| $7.5M-$10M |
n/a |
n/a |
71.5 |
51 |
31.5 |
59.5 |
21.6 |
| $10M+ |
22.4 |
27.2 |
42.0 |
22.7 |
33.8 |
29.9 |
35.2 |
| Price Range |
2/28/15 |
3/30/15 |
4/30/15 |
5/31/15 |
6/30/15 |
7/31/15 |
9/21/15 |
| 0-$500K |
4.5 |
4 |
9.6 |
9.6 |
5.4 |
5.3 |
4.1 |
| $500K-$1M |
6.3 |
4.2 |
7.5 |
8.6 |
7.4 |
6.8 |
5.3 |
| $1M-$1.5M |
4.8 |
4.5 |
6 |
5.5 |
4 |
3.3 |
4.5 |
| $1.5M-$2M |
6.9 |
7 |
8.8 |
8.1 |
6.5 |
5.8 |
8 |
| $2M-$3M |
10.1 |
8 |
14 |
15 |
11.6 |
11.6 |
11.1 |
| $3M-$4M |
31 |
20.5 |
25.5 |
25.3 |
16.2 |
13.1 |
24.3 |
| $4M-$5M |
54.3 |
26.6 |
30.3 |
27.3 |
17.2 |
15.5 |
23.6 |
| $5M-$7.5M |
49.1 |
30.2 |
34.6 |
31.7 |
23.8 |
20.9 |
30.2 |
| $7.5M-$10M |
20.4 |
36 |
31.3 |
36.4 |
49.6 |
47 |
37.7 |
| $10M+ |
41.7 |
76.5 |
80.5 |
86 |
103.1 |
120.8 |
78 |
