The Pond

In the past 6 months, 2 new properties/month came on the market.  They are being sold at a rate of 1.5 each month.

With a total inventory of 4 units for sale, this gives us a monthly supply of 2.7 months.  Inventory of 6 months, is considered a "balanced market".  If there is less than 6 months of supply, it is considered a "seller's market." 

Therefore, each month a seller has an 37.5% chance of selling.  Seller's Market!