Industry Language Explained!

Helping You Understand the Lingo!

On the first Wednesday of every month, I review the Real Estate Market so you don’t have to. We call it the “State of the Market”!

In the video, I review some items that some people may not be familiar with, or may not know how they apply to themselves as a consumer.

Starting off with:

Appreciation, Year Over Year

This percentage will compare the appreciation from its current year to last year. Why is this important? You want to buy where appreciation is positive. 

Days on the Market (DOM)

This explains how many days it takes to sell a home from the time it was placed on the market. Why is this important? A market with low average days shows the strength from buyers.

Listing Volume

If this number increases, that tells you there are more sellers looking to sell then hold. 

Why is this important? The lower the volume, the less sellers are looking to sell their home. 

Sales Volume

This will alert you to see the strength in Buyers. Why is this important? The higher the number, the higher the Buyers are eating up the inventory

Supply of Inventory in Months.

This will tell you how many months it would take to sell ALL Inventory on the market. Why is this important? 6 Months of Inventory tells you it’s a level playing field between Sellers and Buyers. With less than 6 Months, the seller has an advantage due to lack of inventory, supply and demand. If there's more inventory, it's now a buyer’s market.