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 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. |
| 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 622, with an average monthly Sold of 41, yielding a backlog of 15 months to sell off the inventory at current rates of sale.
