What is 'months of supply' in a Delaware residential real estate market?
Why How many months worth of inventory are listed for sale based on current absorption rates Is Correct
Answer A: How many months worth of inventory are listed for sale based on current absorption rates
Exam Tip: Property Valuation
Valuation questions focus on the three approaches to value: sales comparison, cost, and income. Know which approach is best for which property type. The income approach uses cap rate and NOI — memorize these formulas.
People Also Study
Related Delaware Questions
- A Delaware market has 450 active listings and an average of 75 sales per month. What is the months of inventory?Real Estate Math
- Which federal law requires lenders to provide a Closing Disclosure at least 3 business days before closing?Finance
- The Home Mortgage Disclosure Act (HMDA) requires lenders to:Finance
- A Delaware property is assessed at $175,000. If the tax rate is 1.4%, what is the monthly tax escrow amount (1/12 of annual taxes)?Real Estate Math
- What does 'market vacancy rate' indicate for a Delaware rental market?Property Management
- What is 'absorption rate' in Delaware real estate market analysis?Property Valuation
- 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
- What is 'mold' and what disclosures are required for Delaware residential sellers?Environmental
Key Terms to Know
A contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
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 →