How to Read Your Local Real Estate Market in 60 Seconds

Imagine being able to walk into any real estate conversation with the confidence of a seasoned pro. The secret? You only need to focus on three numbers to get a quick, clear picture of your local market. Whether you’re thinking about buying, selling, or just curious, here’s how you can read the market in just 60 seconds.

1. Days on Market (DOM): The Market’s Pulse
Days on market tells you how quickly homes are selling. If properties are flying off the shelves in a matter of days, it’s a sign there are more buyers than homes available—a classic seller’s market. On the flip side, if listings are lingering, buyers may have the upper hand. Think of DOM as the heartbeat of your neighborhood’s real estate scene.

2. Price Trends: The Story Behind the Numbers
Are home prices rising, steady, or dipping? Price trends show you the direction of the market. Rapidly rising prices often mean fierce competition among buyers, while falling prices could signal more negotiating power for buyers. Watching price trends over a few months can reveal whether it’s time to make a move or wait for better opportunities.

3. Inventory Levels: Supply vs. Demand
Inventory is simply the number of homes for sale. Low inventory means fewer choices and often higher prices, favoring sellers. High inventory gives buyers more options and can lead to softer prices. Picture inventory as the balance scale in the real estate world—whoever has the advantage tips the scale in their favor.

Putting It All Together
Let’s say you notice homes in your neighborhood are selling in under two weeks, prices are climbing, and there aren’t many listings available. That’s a textbook seller’s market. If homes are taking months to sell, prices are dropping, and there’s a glut of properties, buyers have the edge.

Keeping an eye on these three numbers empowers you to price your home smartly, negotiate with confidence, or spot opportunities before others do. And the best part? You don’t need to be a real estate expert to use this trick—just a little curiosity and the right guidance.

Want a Custom Market Snapshot?
If you’re curious about what these numbers look like in your neighborhood, I’m here to help! Reach out anytime for a personalized market snapshot and let’s make sense of the numbers together.