Months of supply is how many months it would take to sell every home currently on the market at the pace homes have actually been closing. A low number means listings are getting absorbed fast. A high number means inventory is piling up faster than buyers are closing on it.
It compares what is for sale right now with what has been closing. That is supply against demand, not asking prices or how a market feels.
Formula
Months of supply = active listings divided by average monthly closings over the last 6 months (homes closed in the last 6 months divided by 6).
Thresholds
Under 4 months is a seller's market, 4 to 6 is balanced, over 6 is a buyer's market.
This is the same formula and the same thresholds behind every market-pace figure on ryan-realty.com. It never changes by page.
Pulled live from the same feed every market report on this site reads from. Refreshed every 10 to 15 minutes from Oregon Data Share.
Central Oregon
Balanced market1,813 active single-family listings
Refreshed Aug 11, 2026, 2:48 AM PT · market_pulse_live, Oregon Data Share
See the full Central Oregon market reportBend
Seller's market486 active single-family listings
Refreshed Aug 11, 2026, 2:48 AM PT · market_pulse_live, Oregon Data Share
See the full Bend market reportRearranging the formula on the two live figures above shows the pace it implies. Central Oregon has 1,813 active single-family listings and 5.8 months of supply right now. Dividing the first by the second implies homes have been closing at roughly 313.7 a month on average over the trailing six months, or about 1,882 closings across the full six-month window.
1,813 active ÷ (1,882 closed in the trailing six months ÷ 6) = 5.8 months of supply.
The same formula and thresholds used on every market page here.
Six months smooths out normal week-to-week and month-to-month swings in closing pace without going stale. A shorter window reacts to noise. A window over a year reacts too slowly to an actual shift in the market.
Under 4 months is a seller's market, 4 to 6 is balanced, over 6 is a buyer's market. At the low end, listings are getting absorbed faster than new inventory can replace them, and sellers hold more leverage on price and terms. At the high end, buyers have more homes to choose from and more room to negotiate.
Not automatically. Months of supply measures pace, not price. It is a leading indicator. A market that stays above six months for a sustained stretch tends to see price growth slow or reverse, but the two numbers can diverge for months before price catches up.
The live figures above are pulled directly from Ryan Realty’s Central Oregon MLS data feed (Oregon Data Share) at render time, refreshed every 10 to 15 minutes. Nothing on this page is estimated or held over from an earlier report.
Months of supply is one figure inside a fuller picture: active inventory, median list price, days to pending, and price trend by city.