Do You Know Your Area’s Absorption Rate?

Take a look at the table below:

The table shows how many homes SOLD vs how many homes were ACTIVE on the market for the month of December, 2008 for the Charlotte Metropolitan Region*.

If you calculate the absorption rate:

1,350 x 12 (months) = 16,200
16,200 / 52 (weeks) = 311.5
25,335/311.5 = 81.33 weeks

Easier way is just 25,335/1350 = 18.76 months (x 4.33 to get weeks) = 81.23 weeks

So, at these numbers, it will take 81 weeks to absorb all the current inventory.

So why is a photographer / full motion video tour provider writing about absorption rates? Because it supports my theory in this blog post, that NOW more than ever (in distant memory) it is SO important to make sure your listings are marketed well on the internet.

86% of all buyers start their search on the internet and your listing is just one in a sea of listings. Make sure you price it right, have it in great condition, and MARKET it heads and shoulders above all the rest!

* Source: Realtor Reflections Magazine