Central Florida Weekly Real Estate Market update
I've been selling Real Estate for a few years now. It seemed like the minute I learned how to start selling real estate well, I had to stop and re-learn everything all over again.
I have experience building businesses and in my previous business my partners and I did weekly evaluations of our business performance and our profits and losses.
Sometime back in March of this year my team (On the Mark Investments) and I wanted a way of keeping a pulse on the market. O.R.R.A's stats are nice but always seemed to be a little to late. I wanted to know what was going on Right Now! Not last month.
This is my first blog sharing these numbers, and if it helps my fellow realtors out there (and mortgage professionals) I'll start sharing these number with the A.R. crowd on a weekly basis. These are numbers that I pull off the Mid Florida Regional Multiple Listing Service or M.F.R.M.L.S. , and put into an excel database that I have created myself.
Feel free to share this info with your clients and comment on this blog. Let me know if this info helps and if you want me to continue doing this.
This graph represents one stat that I've been keeping track of: The Absorption Rate. This number tells us how many months of inventory we currently have. You'll notice that Seminole county has the lowest right now at about 12 months. This means at the current rate we are selling homes, it will take approx. 12 months to sell off the current inventory. In 2005, this number was under 1 month!
Below is the spreadsheet I have created to keep track of these numbers. On a weekly basis I log the number of Active, Expired, Pending, Sold and Withdrawn listings from each of the 5 major counties. I also keep track of the movement of those numbers from the previous week (second grid below) and from the time I started keeping these stats, March 27, 2007.
This may seem a little complicated (sorry about that). If you have any questions about this info, please include in the blog and I'll do my best to answer them.
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