Question

the average inventory of houses in the edmond real estate market is $18,750,000 and the annual sales in the market are $136,459,000. what is the average number of weeks of supply of houses on the market in this city?

Answer 1

The average number of weeks of supply of houses on the market in this city is approximately 0.1377 weeks.

Step-by-step explanation:

To calculate the average number of weeks of supply of houses on the market, we need to divide the average inventory by the annual sales.

In this case, the average inventory is $18,750,000 and the annual sales are $136,459,000.

So, the average number of weeks of supply can be calculated as:

Average Number of Weeks of Supply = Average Inventory / Annual Sales

Average Number of Weeks of Supply = $18,750,000 / $136,459,000

= 0.1377 weeks

Therefore, the average number of weeks of supply of houses on the market in this city is approximately 0.1377 weeks.