During the past thirty days, there were 11 homes sold in this market.
There is currently 16.36 months of inventory of homes now on the market.
Harrison K. Long, Realtor and broker, Coldwell Banker Previews
For the best home and property search web site
â€¢ Find the total number of active listings on the market last month.
â€¢ Find the total number of sold transactions for last month.
â€¢ Divide the number of active listings by the number of sales to determine the number of months of inventory remaining.
You can easily get this information from your local realtor.
You can read a complete article on the subject of absorption rate and months of inventory on our website.
Norada Real Estate Investments
We have a very unique exclusive program called Market Trends which give real time data on Days on Market, units sold, Inventory levels, etc. I can pull them and e mail to you if you e mail with more details and priceranges
First Team Estates
However, since people do always want to sell and it's not realistic to use that as a statistic, taking into account the total inventory for the month plus the new listings for the month and subtracting homes that sell or decide to go off the market during the month, the for sale inventory at the end of May actually increased over by 1,000 homes over the inventory at the end of April.
That's not bad, though. If you look at the cyclical trends during any given year -- whether it's a hot selling market or slow -- the inventory of homes on the market always increases this time of year and will begin to subside starting around September.