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Middlesex County Real Estate Barometer
Middlesex County Real Estate Barometer | ||||
| Strong Buyer's Market | Buyer's Market | Neutral Market | Seller's Market | Strong Seller's Market |
Monitoring the local Middlesex County NJ real estate market and estimating the current overall status of the market has a lot to do with DOI (Days of Inventory) or Absorption Rate. Days of Inventory (DOI) in December is reaching 267 days. It means it would take about 9 months to sell all existing inventory. A market with more than 6 months supply typically qualify as a Buyer's market.
Simply put, DOI represents the number of days or months it would take to sell the current inventory. For example if we have during a specific month 500 homes for sale in Middlesex County (current inventory) and 50 homes were sold that month, it means it would take 10 months to sale all homes.
A neutral market has typically a DOI around 6 months.
Less than 6 months typically characterizes a seller's market.
More than 6 months a buyer's market.
Seasonal effect and other "noise" should be taking into consideration when using this type of indicator.
See our Middlesex county Real Estate Statistics section to find out the current story on the DOI in Middlesex County NJ.
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