How much inventory are you dealing with in your market? Overall picture, My MLS AREA includes most of Northern NJ with over 37,000 listings. These are the numbers in my area.

In Newark NJ specifically there are currently 2524 active listings all inclusive.

For JUNE 2008 there were 47 closings (about average) since begining of year.

2524 divided by 47 we have 38.24 Months to sell what we have WOW.

This is not an exhaustive analysis of the market just raw numbers that we are facing. I was wondering how everyone else is doing out there using the same snapshot.

 
Posted by Carlos DeJesus on 06/30/2008 05:25 PM   Comments (3)   , ,  
Post is included in group: EXIT Realty is GROWING...not multi-level...not profit sharing
Post is included in group: EXiT Realty Agents

3 Comments on 3 Years and 2 months of Inventory!!!

I don't think my area is quite that bad but it isn't good.

06/30/2008 05:35 PM by John Walters (Specialized Real Estate)

Yea - can you guys get your market back together up there?  I have an ever growing pipeline of Relo's down here that can't buy because they can't sell...... :-)  Chop chop - lets move that inventory :-)

Does that sound familiar?

 

 

 

06/30/2008 09:03 PM by Ken Land (Magellan Mortgage)

38.24 months worth of inventory? Are you kidding me? I thought 11 months of inventory was a lot. That's crazy. Great post.

07/02/2008 09:53 PM by Lanre Folayan "Buy a home in Washington,DC" (EXIT PREMIER REALTY)

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Real Estate Agent: Carlos DeJesus (Exit Elite Realty Group)
Carlos DeJesus
Ironbound, NJ
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