Finally, let’s look at the Months of Inventory in York.
This statistic tracks how long it would take for all houses on the market in York to sell if we stopped having any new listings. The higher the MOI, the more of a buyer’s market, the lower the MOI, the more of a seller’s market. Somewhere between three to four months is considered a balanced market.
How is York doing in terms of months of inventory? Remember that the lower the levels of inventory, the more likely it is that prices will rise.
Finally, we can look at the months of inventory for York to predict what should happen to prices next month. The MOI as of the end of April was 2.2 months, which means we would classify the York market as being a very strong seller’s market right now. On its own, our current months of inventory predicts that the average price in York should rise in May.