There’s been a lot of talk about low inventory, but how low is it really?  Taking Ballard as an example, the average inventory level this year has been less than 1 month.  That means that if no other listings come on the market, it will take less than 1 month to sell out the existing supply of homes.  

2015-16 ballard inventory 

One month is very low, considering that 4-6ish months is considered a “normal” or neutral market.  By comparison, Ballard had slightly less than 2 months of inventory during the height of our last housing market’s peak!  

2006-2007 inventory