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Thurston County Inventory Absorption Rate

GOOD NEWS FOR THE THURSTON COUNTY HOME MARKET!

Inventory of active listings is at a recent record low at 1626 active listings on March 16th, 2008, versus 2052 active listings on November 10th, 2007. At the same time the amount of average sales per month over the past 12 months has gone up from 336 average sales per month in November to 378 average sales per month in March.

What do these statistics mean? A standing inventory of greater than four months generally indicates a buyer's market. Inventory of less than three months typically indicates a seller's market. The trend shows that we're approaching well balanced market conditions.

With shrinking inventory, buyers who are actively in the market should take advantage of the low interest rates and make their purchases. While in some cases now may still be a time to be able to ask for sellers' concessions, with homes in more demand, this time may come to an end soon.

Sandy Nelson
Realtor for Olympia Area Real Estate
www.sandynelsonrealestate.com

Posted by Sandy Nelson Realtor® Olympia Real Estate on 03/18/2008 10:31 PM

Comments (7)

market statistics, thurston county, housing market, sandy nelson, olympia real estate

This post has been included in Washington Information Thurston County, WA Information

7 Comments on Thurston County Inventory Absorption Rate

MAR

2008

That is excellent news for your area! nice chart!

Your Friend in Charlottesville, Virginia!

Thanks Charles. It's particularly good news for local home sellers.

Sandy

Hello Sandy:

Good information. Glad to see things moving a little bit faster up in the Northwest. Like the chart.

MAR

2008

Thanks for stopping by Michelle.

Sandy

MAR

2008

Wouldn't it be more accurate to compare March 07 to March 08 and so on? That would give us an apples to apples comparison of what the home market did in the previous season with at least some of the same parameters. Real estate is a highly seasonal industry and comparing different months to each other seems fairly inaccurate. November inventory is still high compared to typical winter numbers ...don't a large number pull homes during winter then relist when spring comes? That would help explain some of the differences in numbers....this chart I pulled off here shows about a 10mo supply for Thurston county versus your 4.3 months. This has actual sales figured in which are about half of your avg...isn't this the true number or are your numbers typical real estate calculations which might mean more because you are comparing your latest numbers to the numbers cranked out last month??

http://www.topproducerwebsite.com/users/16093/downloads/Thurston%20County%20Market%20Update%20-%20March%202008.pdf

JUL

2008

Great presentation on this subject.

I use these statistics with both my buyers and sellers.

You can review my post on this subject at: http://activerain.com/blogs/jpeters

Joe,

I'm sure your clients appreciate your market statistics.

Sandy

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