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How is Buyer Demand Affected By Quality Inventory?

by Chicago Agent

LeapRE analyzed the total number of listings on the market by quarter compared to the average time on the market, and found that, interestingly, when there was less inventory on the market, the average time on market for a listing was longer.

A theory for this is when inventory was higher, the quality of those properties on the market was also higher, and its days on market were shorter because quality properties sold more quickly. Now that there is less inventory on the market, the average days on market is longer because it is mainly made up of low-quality properties.

Click on the graph below to see how inventory and days on market are related:

Screen shot 2013-11-01 at 10.53.52 AM

Screen shot 2013-11-01 at 10.54.00 AM

 

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