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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). Days of Inventory (DOI) has increased in July 118.8% versus June. At 396 days, it means it would take over 1 year to sell all existing inventory at the same absorption rate.. 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 at the current absorption rate. 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 (absorption rate), 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.
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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