Randylue, Other/Just Looking in 92625

How Many Months of Inventory Exists in a Market?

Asked by Randylue, 92625 Thu Jun 28, 2007

Is there a way to find out what the current inventory in a market is in terms of units and sales per month so that I can determine how many months of inventory are currently listed for sale?

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Harrison K.…, Agent, Irvine, CA
Sat Nov 15, 2008
As of November 15, 2008, there are 180 homes for sale at Corona del Mar 92625

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
0 votes
Marco Santar…, , Indianapolis, IN
Sat Aug 9, 2008
Yes. To calculate the months of inventory for any given market:

• Find the total number of active listings on the market last month.
• Find the total number of sold transactions for last month.
• 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.

Marco Santarelli
Norada Real Estate Investments
(800) 611-3060
0 votes
Michael Barr…, Agent, Irvine, CA
Sun Apr 27, 2008
Hi there Randy, This information can be obtained from my site.
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

Kind Regards
Michael Barron
First Team Estates
0 votes
Mike Crowley, , Orange County, CA
Thu Jun 28, 2007
Randy -- I have the exact answer for you for Orange County. As of the end of May there were 16,471 homes listed for sale in all of Orange County. For the whole month there were 2,147 new sales. So, if there were no more new properties to come on the market in Orange County it would take a bit over seven months to sell everything.
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.
0 votes
Joshua Jarvis, Agent, Duluth, GA
Thu Jun 28, 2007
You can look at local tax records and then as your local real estate board. If you have any realtor friends, you can typically have them tell you. It's relatively easy to find the absorption rate.
Web Reference:  http://www.jrjarvis.com
0 votes
Horlow , , 19440
Thu Jun 28, 2007
It's much easier to have a realtor do that for you in the area on which you would like to get information, Otherwise look in zillow and other webs, might take a while.
0 votes
Bruce Lynn, Agent, Coppell, TX
Thu Jun 28, 2007
My MLS sheets print out automatically six months of sales. If that is true for you, take the number of comparable sales and divide by 6, then divide the number of comparable active listings by that number. That of course assumes the past is an excellent predictor of the future. For me this is a guide, but not hard fact. For example in my market sales are slower in the winter than they are in the summer. So if a homeowner calls me in April and I look at this calculation it will likely be off.
Web Reference:  http://www.teamlynn.com
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