How do you gauge a markets supply & demand?

[Turok Tarango]

Hey BP community!

New to real estate investing. What are some tools that are available when it comes to gauging the market of a city or an area? When ppl say there is a “high demand but a low supply there... ” I’m curious as to where to find the frameworks for that information.

Do you just keep an eye on prices in that area? Ask an agent to share their MLS? Download a certain app? Look at the size of value of the areas school systems? Thank you in advance :)