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• #DEFINITION NEW HOME INVENTORY PROFESSIONAL#

* MarketStats is currently sold only to MLSs or associations. For-Sale Inventory: The count of unique listings that were active at any time in a given month.

#DEFINITION NEW HOME INVENTORY PROFESSIONAL#

If you’re a real estate professional and belong to an MLS that subscribes* to MarketStats by ShowingTime, you already have access to useful reports and charts for every situation.įor MLS and association staff who need to quickly generate reports and charts that summarize local market activity, MarketStats by ShowingTime can help. New construction activity also helps to increase inventory levels.ĭo you have the market statistics you need at your fingertips? When more sellers list their homes it, of course, helps buyers looking to make a move.

In low-inventory markets, buyers can become frustrated with a lack of options that meet their needs in their desired areas. The Beauty: A lot of eyes watch inventory levels. Both measure the supply side of the market, but they capture different things. Some people also confuse new listings with inventory. Best feature: Ability to keep track of more than just your stuff, including home services, warranties and even medical records. The Oops: There is sometimes confusion about how inventory is calculated and when it is captured. Perhaps the flow of water entering the tub (new listings entering the market) is increasing while the flow of water draining out of the tub (closed sales leaving the market) is decreasing, thus the water level (inventory) is rising because more water is entering the tub than leaving it. Capturing a count at month’s end allows for meaningful, apples-to-apples comparisons. That’s why inventory is simply a balance statement instead of any sort of cumulative measure, since there are a high number of status changes and flux through any given day, week and month. That level, however, is nearly infinitely variable. At any given point of time, the water level of the tub represents inventory. New listings enter through the spigot, and closed sales are flowing out of the tub through the drain. Think of inventory as the water level in a bathtub. For example, Q2-2017 inventory will be the number of properties in active status on May 30, 2017. Using a notebook or spreadsheet, you can create a comprehensive list of the items you own, along with details such as purchase date and value. Here are some options to consider: A written inventory. The How: The inventory number is calculated by simply taking a count of the properties marked as active on the last day of the month. The first step in conducting a home inventory is deciding how you want to keep a record of your belongings. Any time a seller lists a property, it is considered to be part of inventory. Inventory represents the active supply of properties on the market. It’s simply a raw count of the number of properties being actively marketed and categorized as “active listings.”Ī buyer can attend a showing or open house or write an offer on any property in active status – barring some contingencies, temporarily not available for showing and similar statuses. The What: Whether you call it “Inventory,” “Active Listings” or “Homes for Sale,” they all refer to the same thing.