Local Real Estate Market Insight

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Months of Inventory is a metric that indicates the supply and demand equilibrium in the housing market. It represents the number of months that it would take to completely sell the homes that are currently listed for sale, based on the area’s current rate of sales activity. Typically, a balanced market has about 5 to 6 months of inventory on the market. This indicates that the supply and demand for properties is fairly equal. In a seller's market, there are less than 5-6 months of inventory on the market. The fewer months of inventory, the more competitive the market.
A stable Months of Inventory (as shown by the green line in each graph below), shows a stable market.

 Data obtained from the Quinte & District Association of Realtors MLS® Database