How is the Supply of Homes for Sale in St. Louis West County?
Is there a shortage in the supply of homes for sale in St. Louis West County? Statistics became available today so let’s take a look at what might be developing in the spring.
The key indicator to look at is called “Months of Inventory” and the Market Action Index which is also referred to as MAI.
What Does Months of Inventory Mean?
Months of inventory provides an estimate of the amount of time it would take to sell all of the current listings in a given area if no new listings became available. For example, if in January there are 3 months of inventory and no one decided to put their home on the market at that time … all of the homes would be sold in March. The graphic shows the impact on price:
What is the Market Action Index?
Supply of Homes for Sale West County
Market Action Index-51.9 (Strong Seller’s Advantage)
Market Action Index-35.1 (Seller’s Advantage)
Market Action Index-30.6 (Seller’s Advantage)
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