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 Henrico County
Near West End
Far West End
West End, Short Pump
Glen Allen, Far Nuckols Road
Glen Allen, Innsbrook, Staples Mill
West End, Gaskins Road