Increase the opportunities for safe, decent, energy efficient, affordable, accessible and fair housing for all types of households in all neighborhoods. and 1 more...
Months of inventory for condos
Current Value
2.4 months
Definition
Story Behind the Curve
This indicator shows the number of months it would take for all current listings on the market to sell if no new units were added. A healthy housing market has 6 months of
inventory. Months of inventory is not a measure of how long properties are on the market before they are sold.
Why Is This Important?
A healthy housing market is one in which housing units for ownership are on the market for about 6 months.
Note on Methodology
Months of supply is the number of houses currently for sale divided by the average number of homes sold per month.For example, in the past 12 months 139 single family homes sold in an area. If we divide 139 by 12 we get an average of 11.58 homes per month. To get the months of supply divide the current supply, which is 89 homes, by 11.58. The example area has 7.69 months of supply.
Partners
Clear Impact Suite is an easy-to-use, web-based software platform that helps your staff collaborate with external stakeholders and community partners by utilizing the combination of data collection, performance reporting, and program planning.