Complete Appraisal Blog

Low inventory of all types of housing continues throughout our market. Currently there is 2.2 months of inventory on the MLS.  Normal inventory would be four to six months. The median days on the market is 18 days. In February 2021 it was 45 days. 

Locally Farmington has 1.5 months of inventory. In February 2019 there were 5.5 months of inventory. There are 6 active condominium listings and 24 single family listings from $305,000 to $3,350,000. 

The national news paints a grim picture for real estate but until sellers outnumber buyers creating an oversupply, values should hold steady.