The number of options of homes you might buy will vary based on the price range in which you are shopping.

As shown above, you'll have the most options between $300K and $500K.

But, let's take the data one step further... given the current inventory levels shown above, how long would it take for all of these homes to sell if nothing else came on the market?

Thus, we can estimate how long it would take to "sell out" of current inventory based on the number of home sales per month...

Current Inventory / Average Sales Per Month = Months of Available Inventory 

Here's how it works out...

The market under $300K... and even under $500K... is still pretty tight, with less than two months of supply available.

The market over $500K... and particularly over $700K... has much more supply compared to the number of buyers who buy each month.

Thus...

Buyers buying below $500K will have fewer choices and more competition, while buyers buying above $500K will have more choices and less competition.

Sellers selling below $500K will have more interest and will likely sell their homes faster, while sellers selling above $500K will have somewhat lower levels of interest and it will likely take a bit longer for their homes to sell.