Henri Gourd 914-954-3897 henrigourd@bhhsne.com HOUSING INVENTORY A real estate market is in "balance" between buyers and sellers when there are 6 months inventory on the market. This means that using the average number of homes sold per month, it would take 6 months to sell off the number of homes currently listed for sale. If there is less than 6 month's inventory, it is considered to be a seller's market and buyers are in a weaker negotiating position often having to compete in multiple offer scenarios. Greater than 6 month's inventory, the buyer has the upper hand. For New London County, the market has not seen a 6 month's inventory since January 2019 and it has hovered around a 2 month supply since April 2022. With hopes fading for future rate cuts any time soon, buyers will continue to face headwinds. This is why it is so important for buyers to work closely with their lender to get pre-approved and with their agent to consider non-financial incentives so the seller selects their offer among competing bids. BERKSHIRE HATHAWAY HomeServices New England Properties Selling it all, from cottages to castles! Henri Gourd 914-954-3897 henrigourd@bhhsne.com HOUSING INVENTORY A real estate market is in " balance " between buyers and sellers when there are 6 months inventory on the market . This means that using the average number of homes sold per month , it would take 6 months to sell off the number of homes currently listed for sale . If there is less than 6 month's inventory , it is considered to be a seller's market and buyers are in a weaker negotiating position often having to compete in multiple offer scenarios . Greater than 6 month's inventory , the buyer has the upper hand . For New London County , the market has not seen a 6 month's inventory since January 2019 and it has hovered around a 2 month supply since April 2022 . With hopes fading for future rate cuts any time soon , buyers will continue to face headwinds . This is why it is so important for buyers to work closely with their lender to get pre - approved and with their agent to consider non - financial incentives so the seller selects their offer among competing bids . BERKSHIRE HATHAWAY HomeServices New England Properties Selling it all , from cottages to castles !