I find that number crunching really helps me get a good handle on the real estate market. Today I decided to focus in on the single family homes market to show you what’s going on in my main market areas:
Medford & Surrounding Cities Real Estate Market Stats May 2009
Sometimes seeing all of the numbers at once can be a bit overwhelming, so this chart breaks out the number of month of inventory of single family homes for sale in each city:
Not surprising the cities with the highest price tags, Cambridge and Winchester, have the most number of months of inventory already on the market. Looking at months of inventory help you really narrow in on what’s happening in a real estate market because it factors in demand, not just numbers of homes for sale or average days on the market.