The percentage of new listings that sold in a given period, calculated by dividing the number of sales by the number of new listings. An SNLR above 60% typically indicates a seller's market (more demand than supply), below 40% suggests a buyer's market, and between 40% and 60% is considered balanced.
Why It Matters
SNLR tells you how quickly the market is absorbing new supply. A high ratio means homes are selling almost as fast as they're listed -- a sign of intense competition. A low ratio means listings are piling up without finding buyers. Combine this with MOI for the clearest picture of market conditions.
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