One of the most important metrics to monitor to assess the overall health of a market is the inventory. Inventory, combined with absorption, will give you a good sense of whether home values are increasing, flat or in decline in a particular sub-market.
By keeping an eye on the available inventory in conjunction with pending contracts, you will be able to tell how aggressive to be with offers, counter-offers and pricing.
The charts below track available inventory and pending contracts to better understand what is happening in your marketplace.
All of Hanover County
Ashland
Atlee, Mechanicsville
Mechanicsville, Old Church