A year ago, there were 140 homes on the market for sale (not under contract) and today there are 249 homes for sale!  That's a big increase.

Given that inventory levels have risen quite a bit, I wanted to take a look whether current inventory levels are evenly distributed by price based on past buyer activity.

So as to say... would it take an equal amount of time for all lower priced homes to sell (based on the number currently for sale and the number of buyers who are buying) as compared to the amount of time it would take for higher priced homes to sell?

As shown above, current inventory levels get higher (in comparison to actual buyer activity) as prices get higher.

At the two extremes...

There are 90 homes for sale under $350K... but 55 buyers a month are purchasing homes in that price range... so it would only take about 1.6 months to sell through existing inventory... if nothing else was listed for sale.

While...

There are 10 homes for sale over $1M... and only 1 buyer a month is purchasing a home in that price range... so it would take about 10 months to sell through existing inventory... if nothing else was listed for sale.

Why does this matter?  

Sellers (now and in the near future) should keep this overall market metric in mind when listing their home for sale.  Making your pricing decisions carefully based on how much competition you have (other sellers) compared to how much buyer activity exists.