Market Report - May 2008 - Mercer County - The Real Voice of New Jersey Real Estate

Market Report - May 2008 - Mercer County

Market Report - 2008

I am happy to provide you with the following Mercer County Market Report (individual township statistics will be provided on June 1).

It seems that the flood gates of inventory we say in April have slowed for new listings. Which is great in order not to have an “over saturation” of homes on the market. I am also pleased to tell you that we not only took 227 fewer listings in May, but the look at the sales. Pending from last month were 301 with 766 new listings to pending 212 with only 539 new listings.

THE INVENTORY IS MOVING!!!!

My only advice to you all is … price it right, stage it, and put your best foot forward and your home well sell. And don’t hesitate to call my team to do the job!!!!

Contact The Desiree Daniels Team at (609) 448-2222 for all your real estate needs!!!

Market Statistics

Monthly Statistics for the Date Range Selected

Date	Units Listed	Listed Volume	Listed Average	Pended	Units Sold	Sold Volume	Sold Average	Average DOM
May 2008	539	228,119,312	423,226	212	178	69,334,872	389,521	82
Apr 2008	766	298,876,623	390,178	301	241	81,332,502	337,479	86
Mar 2008	651	240,401,528	369,280	289	222	69,260,096	311,982	103
Feb 2008	593	226,605,994	382,134	271	165	57,241,870	346,920	95
Jan 2008	626	235,349,668	375,957	196	187	72,130,538	385,724	104

Totals:	3175	1,229,353,125	387,197	1269	993	349,299,878	351,762	94

Inventory Accumulation for the Last 12 Full Months


Current Inventory *	Inventory Volume	Current Average	Average Monthly Sales**	Inventory Accumulation ***
2728	1,088,427,908	398,983	275	9

*Current Inventory is based on the actual available properties on the date this report was created.

**Average Monthly Sales is the average sales for the last 12 full months

***Inventory accumulation (in months) = Current Inventory Units / Average Monthly Sales

Pricing Details of Sold Units for the Date Range Selected

Minimum Prices	Maximum Prices	Average Prices
Original List Price : $17,900	Original List Price: $4,725,000	Original List Price: $385,976
Sold Price : $11,000	Sold Price: $4,125,000	Sold Price: $351,762

Inventory Accumulation figures are only calculated when Report End Month is the current month

Market Statistics Criteria Used
Date Range:	1/2008 to 5/2008
Price Range:	$1,000 to $999,999,000
Property Category:	Residential
Area:	All Mercer County