When looking at the year-to-month actual statistics (using the most recently completed month of June vs. May, April, March and January) for for Mercer 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 | 7251 | 3355 | 46 | $366,288 | 83 |
| 05/2008 | 7467 | 3451 | 46 | $366,879 | 83 |
| 04/2008 | 7776 | 3559 | 46 | $362,752 | 82 |
| 03/2008 | 7853 | 3643 | 46 | $363,213 | 82 |
|
01/2008 |
8131 |
3903 |
48 |
$359,802 |
82 |
This shows that while the trend is currently mixed, it appears that it is attempting to level and hopefully even begin to reverse direction.
The current inventory is 2655, with an average monthly Sold of 259, yielding a backlog of 10 months to sell off the inventory at current rates of sale.
Copyright 2008 by Lawrence Yerkes. All Rights Reserved.
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