This week the inventory of available single family homes in Sullivan County (as measured by listings in the Sullivan MLS) climbed to 1,121 properties on the market, passing the previous high of 1,111 houses on the market last October. The number is available homes is almost double the low of 555 in March, 2004. (The low in 2005 was 666 in March.) The current inventory is 29% higher than the 870 houses on the market in June, 2005, and the increase is actually much more modest than in some markets, like areas in Florida, that have reported a doubling or tripling in inventory.
Inventory here is typically lowest in late winter, begins rising in the spring through the summer, reaching its yearly peak in the early fall. If the typical pattern holds this year, we can expect a further increase through the summer.
751 single family homes sold in the past 12 months, so the current inventory represents an 18 month supply.