We can use the SP:LP ratio to gauge how hot the market is.
Last year, the ratio was flat heading into the selling season, with February being right at 100.1%.
Last month was already up to 103.6%, which is incredible for this early in the year!
We just had the hottest February ever!
Maybe “hotness” could be a formula that includes offer price, sales price and days on market.
How goes the quartile graph project?