Recent supply and contract activity can help you decide when patience works.
If you are deciding whether to wait or write, I would let the listing's position guide the answer. Elmhurst, NY recently had 8.6 months of supply, which supports patience when a home's pricing or timing is off.
Recent market conditions in Elmhurst, NY support selective buying. Supply stood at 8.6 months recently, with 43 active homes at month end and 8 new pending contracts over the previous 30 days. Homes still active had a typical time on market of 89 days.
That means patience is available, but it should be strategic. I would not wait on a clearly strong listing just because the overall supply picture looks favorable. At the same time, I would not reward a weak listing with a rushed decision when the market is showing enough inventory and measurable time on market.
Write sooner on homes that are aligned with current pending activity and clearly priced for the market. Wait longer where a listing has already drifted toward the 89-day active pace without strong justification. Use supply as leverage, not as an excuse to delay every decision.
