How many homes for sale of that property type and area that are active. This shows supply.
Last year actives are approximate based on last year weekly numbers on the site.
How many homes of that property type and area that have been reported sold in the previous month. This shows demand.
The average time from appearing on the Multiple Listing Service until the home is sold. This shows how quickly homes are selling.
The total value of homes sold divided by the number of homes sold in the previous month. This shows what homes are selling for.
MONTHS SUPPLY: The number of Active divided by the number of Sold homes in the month. This is an expression of supply and demand.
Less than 4.5 months supply indicates a Seller's Market. 4.5 to 9 months supply indicates a Balanced Market. More than 9 months supply indicates a Buyer's Market.