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 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. |
| 08/2008 | 6938 | 3167 | 46 | $366,121 | 84 |
| 07/2008 | 7048 | 3252 | 46 | $367,289 | 83 |
| 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 the trend is leveling and soon beginning to reverse direction.
The current inventory is 2556, with an average monthly Sold of 263, yielding a backlog of 9 months to sell off the inventory at current rates of sale.
Copyright 2008 by Lawrence Yerkes. All Rights Reserved.
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