• I was here when??

    November 2009
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Weekly Stats for Beaufort Real Estate

Updating the weekly stats- there is good news that our absorption rate has fallen to 16 months worth of inventory overall.

Absorption Rate

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.

Existing Inventory Active, U/C, and Sold as of Nov 2, 2009

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!

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