When looking at the year-to-month actual statistics (using the most recently completed month of August vs. July, June, 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. |
| 08/2008 | 1330 | 474 | 36 | $193,225 | 98 |
| 07/2008 | 1336 | 497 | 37 | $194,257 | 101 |
| 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 slightly downward and hopefully may be attempting to level and even soon begin to reverse direction.
The current inventory is 642, with an average monthly Sold of 39, yielding a backlog of 16 months to sell off the inventory at current rates of sale.
Copyright 2008 by Lawrence Yerkes. All Rights Reserved.
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