Housing and Housing Market Trends » Market Analysis http://housingnewswatch.com Guide to Curb Appeal & The Housing Market in General Mon, 02 Feb 2009 23:12:31 +0000 http://wordpress.org/?v=2.8.5.2 en hourly 1 How Many Month of Inventory are in Your Market http://housingnewswatch.com/months-of-inventory-in-your-market/ http://housingnewswatch.com/months-of-inventory-in-your-market/#comments Wed, 29 Aug 2007 19:08:05 +0000 Doug http://housingnewswatch.com/archives/4 One of the first things to do when selling your home is to find out how many months inventory are in your market. Start with your own neighborhood and obtain the following information:

Number and prices of homes activly on the market

Number and prices of homes under contract.

Number and prices of homes sold in the last 6 months

Make a list of the number of homes that went under contract in the last few months. Then divide the number of active homes by the average number of homes that went under contract. Example: 24 homes activly for sale; 3 homes on average go under contract each month. 24 divided by 3 equals 8, or 8 months of inventory.

Make the same calculations for your own zip code to see if your neighborhood is typical of the wider market. Although not part of the months of inventory on the market, use the sales information on homes sold to see how prices are trending and how sold prices compare with the prices of homes on the market.

]]> http://housingnewswatch.com/months-of-inventory-in-your-market/feed/ 0