Think of it as how long the homes currently for sale would last if no new homes were listed and buyers kept buying at the recent pace.
100 homes available ÷ 20 homes going under contract each month = 5 months of supply.A made-up example to show the math. “Under contract” means a buyer and seller have agreed on a sale, but it hasn’t closed yet.
For this report, the pace is the average number of homes going under contract each month over the past year. A reading of 4.9 months in Tompkins County describes the whole market—it does not mean your home will take 4.9 months to sell.
Fewer homes to choose from
Below 4 months: buyers may face more competition, giving sellers more room to negotiate.
A more even playing field
4–6 months: supply and demand are more evenly matched. Neither side clearly holds the advantage from this measure alone.
More homes to choose from
Above 6 months: buyers may have more choice and more room to negotiate.
These are the guideposts used for our scale. Price, condition, and location still matter for every home.