Real Estate Blog - How long will it take REAL ESTATE IN TITUSVILLE FL to sell

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How long will it take REAL ESTATE IN TITUSVILLE FL to sell - 4/6/09

Market Report Titusville FL 4/6/09 - With Absorption Rate

This is a short report which covers all of Titusville - MLS areas 102, 103 and 104 starting near
HWY 46 to Kings HWY on the south end.

I do specific reports on each of the MLS areas separately as the dynamics are different for each MLS area.

There are currently 706 activelistings in Titusville
There are currently 116 properties under contract
There have been 244 closings in the past 6 months

There are fewer listings than the last report and more properties are under contract. Number of closings in the past 6 months remains virtually unchanged.

ABSORPTION RATE

Simply stated it will take 17.36 months to absorb the inventory of properties for sale at the current levels. This is an improvement over the 20.43 months indicated in the last report so we're still moving in a positive direction.

The formula is simple: # of sales in 6 months divided by 6 = absorption rate.
# of listings divided by absorption rate = number of months to absorb.

There are 7,590 single family residences currently listed in Brevard MLS compared to 9,049 on the last report. The inventory is finally starting to decrease and that's the best news we could have :-)

5,395 single family houses
1,739 condos
456 townhouses

Here are links to previous Market Reports for Titusville:
How long will it take REAL ESTATE IN TITUSVILLE FL to sell - 9/6/08
How long will it take REAL ESTATE IN TITUSVILLE FL to sell - 7/29/08

I can help you find your Home Sweet Home in Florida ~ TODAY!

Home Sweet Home Florida Realty, Inc.
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Relocation Specialist
Titusville, Florida
Cell: 321.544.6808

www.HomeSweetHomeFlorida.com
www.Titusville-FL-Real-Estate.com

Posted by Gail MacMillan - CRS, e-PRO, GRI ~ Titusville FL Real Estate Brevard County on 04/06/2009 01:33 PM

Comments (5)

Market Reports Titusville FL in the Regional (Localism) Channel

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Originally posted at: My Titusville FL Real Estate Blog: How long will it take REAL ESTATE IN TITUSVILLE FL to sell - 4/6/09

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5 Comments on How long will it take REAL ESTATE IN TITUSVILLE FL to sell - 4/6/09

APR

Gail, the Days On Market is an improvement of course but the value still is incredibly high. I can see where full time Realtors are leaving the business. They are starving. Wow, hope your numbers continue to improve in an incredibly strong buyers market.

Hi Gail, any improvement is good to see. Thanks for the report on what's happening in your market.

APR

Gail,

It is good to see that Titusville real estate is improving. I am hoping that it will continue to do so.

Hi Gail! We can't expect to see improvement immediately but it has to start somewhere! Have a great one!

Mary

Hi Gary, I can't say things are hopping but a behemoth can't turn on a dime either.....and the tortoise did win the race, so I'll take slow and steady. Thanks for stopping by :-)

Morning Mary, not getting comment notification is getting old....we have to search out to make sure we know who's been visiting. Thanks for your encouragement!

Thanks Don, it won't happen overnight but the direction is right (sounds poetic ;-)

Hi Mary....finally the inventory is starting to contract, that's the sign I've been waiting for.

Thanks you my friends for being so supportive....you guys are the best.....big smiles

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