When looking at the year-to-month (using the most recently completed month of January) actual statistics, by year, for Salem County, the results, by year, for residential homes on the market, sold, average price and days for sale before close is charted as follows:
Yr Ending
January |
Units Listed |
Units Sold |
% Sold |
Sold Avg. |
Avg.
Dom |
| 2008 |
1398 |
598 |
43 |
$195,356 |
82 |
| 2007 |
1375 |
694 |
50 |
$201,700 |
75 |
| 2006 |
1153 |
765 |
66 |
$189,116 |
66 |
| 2005 |
1018 |
741 |
73 |
$154,400 |
81 |
| 2004 |
907 |
631 |
70 |
$141,300 |
85 |
This shows some interesting trends in the number of units going on sales, despite the decreased demand, which eventually begins to push down the price and extend the average days on market.
The current inventory is 555, with an average monthly Sold of 46, yielding a backlog of 12 months to sell off the inventory at current rates of sale.
For real estate resources, help and support services in acquiring or selling properties in New Jersey, Visit my web site: LawrenceYerkes.com
and visit Besthomes-NJ.com to find the latest New Jersey Real Estate property listings (Residential, Commercial, Multi-Family, Farm, Land).
Copyright 2008 by Lawrence Yerkes. All Rights Reserved.
;)
;)
