Absorption Rate in Pinecrest, Fl East of Ludlam Road

As a mentioned in Part 1 of my post concerning the Absorption rate of  homes in Pinecrest, Fl, the term absorption rate considers dividing the current number of homes for sale by the rate at which they have been selling. This will in turn help you understand how the inventory of homes on the market affects the sale prices in the Pinecrest Real Estate market. The longer the absorption rate, the longer it takes for a home to sell.

This post will show us the absorption rate of homes East of SW 67 Avenue, commonly known as Ludlam, and mostly consisting of homes located on acre properties. There are currently 69 homes on the market listed between $890,000 and $6,499,000 with 31 homes sold in 2008 between $800,000 and $4,150,000.

The calculation again for the rate of absorption is:
Number of Homes Currently on the market ÷ The Average Number of Homes Sold each month in the past 12 Months.

31 home sales ÷ 12 months = 2.5 sales per month
69 homes on market ÷ 2.5 sales per month = 27.6 months supply of inventory

Keep checking back daily as I will be breaking down the Pinecrest absorption rate further and will also be discussing absorption rates in Coral Gables & Palmetto Bay.
For more information on real estate data, please email me at  Lynn at LynnCromer.com or call me at       305-962-4068.

Absorption Rate of Homes in Pinecrest, Part 1.