When looking at the year-to-month actual statistics (using the most recently completed month of July vs. 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. |
| 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 possibly beginning to reverse direction.
The current inventory is 2579, with an average monthly Sold of 251, yielding a backlog of 10 months to sell off the inventory at current rates of sale.
