Buyer's or Seller's Market

[Tom Busath]

I'm new to the Real Estate investing world. I'd like to make smart decisions when buying properties. Does anyone have a formula they use to determine whether a city is currently a buyer's or seller's market? 

What sort of factors go into that determination? (ex. Median home price, $/SQFT, # of active listings, sale-to-list price ratio, the prevalence of price cuts on home listings, time-on-market, turnover in that market in the past year)

I'd be interested to hear your thoughts.