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Titusville FL Absorption Rates



This report covers all of Titusville - MLS areas 102, 103 and 104 starting near
HWY 46 to Kings HWY on the south end.  Let's see how it compares to the last
report I researched on July 29th.  With summer winding down and the kids back
in school, things have picked up a lot!!!

 

There are currently 817 active listings in Titusville
There are currently 71 properties under contract
There have been 240 closings in the past 6 months

Simply stated it will take 20.43 months to absorb the inventory of properties
for sale at the current levels.  This is an improvement, a small one yes, but
an improvement nonetheless.  We're moving in a positive direction.  Here's
the link for the last report to compare:

http://activerain.com/blogsview/614512/HOW-LONG-WILL-IT

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 9,049 single family residences currently listed in Brevard MLS

6,675 single family houses
1,868 condos
   506 townhouses


I can help you find your Home Sweet Home in Florida  

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Gail MacMillan Broker-Owner
Home Sweet Home Florida Realty, Inc.
At Home With Diversity (AHWD)
Certified Residential Specialist (CRS)
e-PRO Internet Certified (e-PRO)
Graduate Realtor Institute (GRI)
Relocation Specialist
Titusville, Florida
Cell: 321.544.6808

www.HomeSweetHomeFlorida.com

 

 
This post has been included in Florida Information Brevard County, FL Information Titusville, FL Information
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Post is included in group: Market Reports
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6 Comments on How long will it take REAL ESTATE IN TITUSVILLE FL to sell - 9/6/08

SEP
06
2008
240,530 Points 21 Featured Posts Outside Blog

These numbers are pretty interesting. How many people would have been able to guess this rate a couple years ago?
12:35pm • #1
SEP
07
2008
354,353 Points 11 Featured Posts Localism Sponsor Outside Blog Hit Router

Gail - I am still shocked at your absorption rate.  I wish more people discovered that area - I just love it there!  I want one of the old buildings downtown to restore! 
7:29am • #2
191,863 Points 5 Featured Posts Outside Blog

Hi Chuck - You're right about that!  This market proved harder than most would have envisioned.  It's the flip side of the bull market and one day soon it will be history.  I'm very busy right now and every time it get as busy as thisI think we've turned the corner, only to learn that pricing pressures still continue.  I do feel we're close to the end - YAY!!!

Hi Leesa - If you're serious about one of the old buildings, the City is (was) offering grant money to help with the restoration.  Just say the word and I'll look into it :-)  It's September you know, isn't your mom getting impatient!!!
9:20am • #3
240,530 Points 21 Featured Posts Outside Blog

I also have noticed that "feeling" that the market is moving in a positive direction... interest has picked up as well. Still, this has to be one of the more complex markets... there are so many moving parts to track- from an academic stand point I feel like we're all becoming smarter as we're trying to make sense of it. Information such as this is one of those essentials.
11:26am • #4
390,062 Points Outside Blog

Hi Gail

Interesting numbers, I believe that your absorption rates will continue to improve. Keep the faith and keep up your effort.

Good luck and success

Lou Ludwig
12:27pm • #5
191,863 Points 5 Featured Posts Outside Blog

Hi Chuck - Interesting perspective....this has to be one of the more complex markets...  It is indeed a complex market, but in the end those markets which experiened the highest rate of appreciation are the very ones giving it back, it just seems to hurt more in a town where the average price is in the mid $170's.  A lot of people got in over their heads when they thought they were being priced out of the market...and for one reason or another, cannot hold on any longer.  Having spent 10 years as a loan originator I had a pretty good idea what was coming as a result of the imprudent loan practices of 2004 and 2005.  I don't feel as badly for the speculators as I do for the man on the street who was not given the straight facts by those who should have known better.  In 2005 our average home value was $220,000....it's been quite a comedown.
1:17pm • #6

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Gail MacMillan - CRS, e-PRO, GRI ~ Titusville FL Real Estate Brevard County

Titusville, FL

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Home Sweet Home Florida Realty

Address: Titusville, FL, 32780

Office Phone: (321) 544-6808

Cell Phone: (321) 544-6808

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Living in Titusville is like living in the center of a perfect triangle. Close to the BIG CITY without the traffic. The excitement of the NASA SPACE PROGRAM right in your own backyard. The warm, exotic NATURAL BEAUTY which is the FLORIDA everyone wants to own a piece of - Welcome To My Florida World. I can help you find your HOME SWEET HOME in FLORIDA!



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