I would answer that by looking at supply and speed together.
If you are trying to judge how tight Mechanicville, NY feels right now, I would not look at one number in isolation. Last month, supply was 1.93 months and a typical sale took 5 days. That is the kind of combination that tells me timing matters.
I read 1.93 months of supply as a sign that buyers have to stay alert. When homes are also selling in about 5 days, it usually means there is not much room to delay a decision after a good fit appears.
For sellers, that same speed can be useful, but only when the price is aligned with the market. The closings tell me buyers were still close to asking, so the market is rewarding homes that are priced with care.
Stay focused on the pace. If you are buying, be ready early. If you are selling, pay close attention to how quickly similar homes are being absorbed.
