is an alternative measure of real estate prices that provides a clearer picture of market trends over traditional tools. As the Bar Chart above indicates, on average, all properties have increased over 12% from October 2016 to 2017, whereas it has only increased 1% since October 2017 to 2018.
The Sales chart indicates the number of properties sold! The yearly bar chart shows that October 2018 sales is almost 35% lower than the same time last year.
The Total Inventory chart shows the combined # of active listings on MLS. In other words, the higher this # gets, the more options there are for buyers to choose from.
As the bar chart vividly indicates, October 2018 by far has the highest inventory in the past 3 years, mainly because the sales are down and the new listings keep adding to the inventory!
The Sales to Active Ratio is a percentage, indicating the number of sales per 100 listings. In other words, it indicates the type of the market: Buyer's Market: below 12% - Balanced Market: between 12% & 20% - Seller's Market: above 20%
As the chart above indicates, The October Sales to Active Ratio has dropped by over 51% sice 2017. Why?! Mainly because the yearly sales of all property types has decreased by nearly 35% and the Inventory has increased by nearly 35%.