As of this November 29, 2009
What do these statistics mean?
- Inventory Units = Total homes for sale in Chester County, PA
- Average Sold/Month = Average number of homes sold over a 12 month period in Chester County, PA per month in the corresponding price range
- Months of Inventory = Inventory Units divided by Average Sold/Month
When Months of Inventory is greater than 6, it’s a buyer’s market.
When Months of Inventory is between 3 and 6, it is a neutral market.
When Months of Inventory is less than 3, it’s a seller’s market.
|
Overall Inventory decrease of 39 units and an increase in sales of 36 units account for an overall improvement on inventory velocity by .2 months over last week. Net decrease in inventory in the 0-400K account for most of the improvement. My outlook for this range of inventory is positive but I expect the market to slow through the holiday season.
With the extension of the federal tax credit and weakness in prices I expect a moderate to strong spring market.
