Call 911...there is a cloud in my backyard....

By
Real Estate Agent with REMAX Realty Team-Cape Coral, FL

 

Call 911...there is a cloud in my backyard...oh wait...never mind...it's gone now... 

You can have some of this AWESOME weather too but you better hurry.  Paradise is selling fast! 

There are currently:

          2113 single family homes for sale in Cape Coral, FL

                  (November 2008 this figure was over 4200)

          1599 homes have sold in the past three months

 That leaves us with an absorption rate of: 3.9 months  

What does that mean? 

Let's say that not another house went on the market.  How long would it take to sell the existing inventory?  Only 3.9 months....

Rule of thumb:

          A ‘normal' real estate market (if there is such a thing) has an absorption rate of 6 months

          When is it a buyers market?  When the absorption rate is over 6 months

          When is it a sellers market?  When the absorption rate is under 6 months

 The tide has turned...but the deals are still available.  But  RUN don't walk.....

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Topic:
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Location:
Florida Lee County Cape Coral
Tags:
foreclosures
south florida
sw florida
cape coral
fort myers
southwest florida
florida
florida boating
cape harbour
tarpons pointe

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Rainer
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Clermont, FL

3.9 months for existing inventory? Not bad at all!!

Oct 16, 2009 04:15 AM #2
Rainmaker
288,859
Jay Beckingham
Bank of England Mortgage - Delray Beach, FL
Seniors ROCK!

nice numbers, but it doesn't quite feel like a sellers market.

i've notice more, non-foreclosure sales, and i like that.

i opened my front door about 2 hours ago and it was a bit chilly, brrrr.

am i spoiled or what

Oct 17, 2009 11:58 PM #3
Rainer
146,222
Debbie Cullen
REMAX Realty Team-Cape Coral, FL - Cape Coral, FL
Your Cape Coral, FL Specialist

Jay, you are a little bit north of me...and it was chilly here too.  It says it's 54° right now at 8:30am.  I've got my socks on.  ha ha  Yes, we are spoiled...BUT pray it doesn't get any colder than this or I will have to go further south...oh wait...there is nothing further south. LOL...enjoy your Sunday!

Oct 18, 2009 12:35 AM #4
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Rainer
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Debbie Cullen

Your Cape Coral, FL Specialist
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