When looking at the year-to-month actual statistics (using the most recently completed month of June vs. May, April, March and January) for Salem County, the results for residential homes on the market, sold, average price and days for sale before close is charted as follows:
|
Yr Ending |
Units Listed |
Units Sold |
% Sold |
Sold Avg. |
Avg. |
| 06/2008 | 1374 | 515 | 37 | $195,351 | 100 |
| 05/2008 | 1364 | 528 | 39 | $194,997 | 98 |
| 04/2008 | 1351 | 522 | 39 | $194,137 | 96 |
| 03/2008 | 1376 | 563 | 41 | $196,680 | 97 |
|
01/2008 |
1406 |
598 |
43 |
$195,497 |
95 |
This shows that the trend is still mixed and it appears that it may be attempting to level and hopefully even begin to reverse direction.
The current inventory is 633, with an average monthly Sold of 42, yielding a backlog of 15 months to sell off the inventory at current rates of sale.
Copyright 2008 by Lawrence Yerkes. All Rights Reserved.
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