A Delaware market has 450 active listings and an average of 75 sales per month. What is the months of inventory?
Why 6 months Is Correct
Answer A: 6 months
Exam Tip: Real Estate Math
Math questions are formula-based. Memorize the key formulas: commission splits, proration, cap rate (NOI ÷ Value), GRM (Price ÷ Gross Rent), and LTV (Loan ÷ Value). Practice converting between annual and monthly figures.
People Also Study
Related Delaware Questions
- Which federal law requires lenders to provide a Closing Disclosure at least 3 business days before closing?Finance
- A Delaware property with a GRM of 125 (monthly) is expected to rent for $2,600/month. What is the estimated market value?Real Estate Math
- The Home Mortgage Disclosure Act (HMDA) requires lenders to:Finance
- A Delaware investor buys a rental property for $350,000 and puts 25% down. The monthly mortgage payment (P&I) is $1,495. The property generates $2,200/month rent. Monthly operating expenses are $600. What is the monthly cash flow after mortgage?Real Estate Math
- What is 'months of supply' in a Delaware residential real estate market?Property Valuation
- A Delaware property generates $3,200 per month in rent. The mortgage payment (P&I) is $1,800/month, property taxes are $250/month, insurance is $100/month, and maintenance averages $200/month. What is the monthly cash flow?Real Estate Math
- A Delaware tenant pays $2,000/month rent. The landlord raises rent by 4%. What is the new monthly rent?Real Estate Math
- A Delaware salesperson lists a home for $350,000. During an open house, the salesperson tells prospective buyers the sellers will accept $320,000. This is a violation of which fiduciary duty?Agency
Key Terms to Know
Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
AmortizationThe gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Study This Topic
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →