Merriam Housing Market Conditions on July 22, 2008

Number of homes listed for sale (supply) 33

Number of listed homes sold in the last 6 months (demand) 62

Absorbtion Rate (avg number of houses sold per month) 10.3
Number of months of Inventory (supply/demand) 3.1

Market Condition Seller Advantage

A house in good condition without some extenuating circumstances and marketed well, should sell in a relatively short period of time.

5-6 months supply is typically considered "balanced" neither the Seller side nor the Buyer side is advantaged

Under 5 months supply is typically an advantage for the Seller since there are few choices for the Buyer

Over 6 months supply is typically an advantage for the Buyer since there are more choices than average due to larger amout of supply of homes compared to the current demand.

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