A Few Words on Months of Inventory

Just a few. The weather is great and we all should get out from behind our screens.

The chart here shows housing inventory on Mercer Island expressed in months of inventory (for my article on the meaning of this statistic, click here). I looked at Mercer Island single family homes only for this chart.

I haven’t done one of these in a while and I was curious to see if the traditional “summer slowdown” has translated into more home remaining on the market longer, or if the predictions of a fast-sale summer that the press releases have asserted was more the case.

Looks like we have somewhat of a slowdown, shown in the little upturn of housing inventory in the last month. But the number of Mercer Island homes for sale remains very low, under 3 months, remaining very solidly a seller’s market.