Real Estate Professionals judge the strength of a real estate market based upon the months of supply in the area. This number tells you how many months it would take for all the current homes for sale on the market to sell, based upon the rate of sales in the past.
A Months of Supply of 5 months is considered average - buyers and sellers are about equal in the area and homes are being bought at about the same rate that they are being put on the market.
A Months of Supply of less than 5 months is what real estate professionals often call a "seller's market." This means that there are more buyers than sellers in the area and homes are selling quicker than they are being put on the market. Typically, this increases prices.
A Months of Supply of greater than 5 months is what real estate professionals call a "buyer's market." This means that there are more sellers than buyers in the area and homes are sitting unsold for a while. Typically, this decreases prices.
How's Clark doing? We crunched the numbers and here's how the real estate market in Clark is shaping up this summer:
So what does this all mean to Clark homeowners? Call Team Zuhl for a complimentary consultation on your home buying and selling needs.
To compare this information to last year's report, check out How is the Real Estate Market in Union County?
For more information on Clark and Clark Real Estate:
- Real Estate Market Report for Clark, NJ for April, 2013 - 05/06/13
- Why we love Clark, NJ
- Clark, NJ, Market Report for January-March, 2013
- Clark to build a new Town Center
- How long will my Union County home be on the market?
- A Historical look at the January Real Estate Market in Clark
- Clark Market Report - January-November, 2012
- What's Happening in the Clark Real Estate Market? - 10/25/12
- How do additional bathrooms or bedrooms affect market value in Clark? - 10/17/12
- Clark Market Report - August 2011 to August 2012
- Free Market Analysis of Clark, NJ
- 108 Homes Sold in Clark, NJ, so far in 2012! - 07/09/12
- It's time to buy in Clark! - 02/26/12
- Clark, NJ, Market Study - 02/13/12