Ok, here are the stats for the last couple of weeks. First we’ll start with the Inventory chart
Resale Inventory as of Nov 30 2009
I actually expected a bigger spike in the under contract numbers as buyers cashed in on the $8000 tax credit available. You can see the number of under contract properties starting a slight downward trend already. Might just be a seasonal holiday thing. Anecdotal evidence points to more traffic in the mid price ranges of $300-$400,ooo. That is welcome news if that price point is starting to move.
Now let’s look at absorption rates:
Absorption Rate as of Nov 30 2009
I thought the rate would have come down a little reflecting the decline in the active inventory number, but I guess it doesn’t take much in the way of change of number of under contract properties to impact this.
Overall, the market seems busier. We are getting more calls for appointments, and there are more sign and ad calls. These are good things! Let’s hope this is a trend beginning and not another spurt!
Again this year, I find my self overwhelmed with the blessings all around me. True, the market is down; true, things are tight; but I am surrounded by a wife and kids that love me and that I love and that are healthy, friends that are like family, and a warm, dry home. We live in the greatest country the world has ever seen, no one is shooting at us, and we have optimism and hope for the coming year. Truely, the Lord’s lovingkindness surrounds us, inspite of ourselves. How can we not be thankful?
To my customers and clients, thanks for making the year what it has been, couldn’t do it without you. To readers, ditto, I’ll be a better contributor in the coming year. Keep those FRIENDLY tips coming! Thank you all from the bottom of my heart!
Updating the weekly stats- there is good news that our absorption rate has fallen to 16 months worth of inventory overall.
This is the absorption rate for areas 1-5 of the Beaufort MLS
As you can see, this is as low as it’s been since I started tracking the absorption rate at the beginning of this year. I think it has more to do with falling inventory than a huge increase in sales, however. When you look at the number of under contract listings, there is not as big a swing up on the trend line as there is a swing down in number of listings.
The trendline for the under contract properties is relatively flat compared to the decrease in the number of active listings.
I know the green solds bars look exciting, but that is a cumulative number. We probably won’t even hit 500 transactions for the year compared to 937 for 2006, 702 in 2007, and 542 in 2008. We are sitting at 385 residential sales in areas 1-5 year to date.
Ok, what do you think? Are we at the bottom? Let me know!
But I sure am wearing some now- All over my face! I tried sending a link a little earlier to some friends, and DOH!! it didn’t work. How hard is it to send a link? I do it all the time, but this one was apparently still born, and I look like a dofus. Sorry if you were annoyed, but thanks for clicking here anyway:<)!
This is a sweet condo for someone… one of the best features is the two car garage- Provides just a little more security and privacy than your normal condo, and it is a built in play area for little kids. Just put the garage door down and viola! A secure, dry, outdoor play area you can check from the kitchen window or front storm door.
Just wanted to help get the word out about the free golf for my camo brothers in the Beaufort area.
I golf about once a year, just to remind myself why I don’t do it more often. But I know lots and lots of my friends love it, and knock yourself out! If I have that kind of time, I’ll try and get a line wet…
Right now there are about 30 women, friends of my wife, in my family room. There are a bunch of 9-12 year old girls in my daughter’s room, other rooms, and the front yard. They are talking about coupons. Coupons.
Don’t get me wrong… Sue does a great job with coupons… no kidding! Usually she spends as much as she saves on groceries. Sometimes she spends say $40 and walks out with $90 or more worth of groceries. She has all the tricks down. She does great and I love the way she stretches our money.
But 30 women talking coupons in my living room? Marshall and I are the only males for maybe the whole block! That’s OK, we’ll get by. Think maybe we’ll go play Call of Duty on the X-Box or something…
Just playing around with a new marketing tool… TourFactory really has a pretty impressive product. I think it can be very powerful in getting eyes to stop and look for more than just a minute, and they have a pretty good syndication system, too.
Let me know what you think. This is from Battery Shores-
Ok, you tell me what you think of 1) the medium, and 2) the house!
It’s funny how a house can sit on the market for almost a month and not have anyone do anything on it but then WHAM! Three offers in less than a week. Two of the three are pretty good, and the seller will be in a fairly strong position… pretty unusual for this enviroment. That’s what happens when you price at the market I guess. Could even see a bidding war…
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