Camp Lejeune, Jacksonville NC Real Estate Market Report (Absorption Rates) January - October 2011

By
Managing Real Estate Broker with Coldwell Banker Sea Coast Advantage (Jacksonville, NC) NC License # 232012

Absorption rates are one of the best ways to measure the relationship between supply and demand in our area real estate market.

Buyers are searching by price range and comparing ALL types of homes in that price range...whether the homes are new construction, re-sale, one story, two story, brick or vinyl, etc...

Sellers need more information than simply what other 2 story brick homes in their subdivision have sold for in the past 6 months to help determine the right price to be competitive in the market place.

In the Jacksonville area, new construction homes continue to hold firm in sales numbers while re-sale home sales numbers are down 32% over the same time period (Jan - Oct) of last year.

This is a trend that will likely continue through 2012, at the very least.

Before we take a look at the actual numbers (for both re-sale homes AND new construction), here are a few terms and their definitions to help show how the numbers were obtained.

Absorption Rate: The rate at which homes will sell withing a given period of time, or unit sales per month. (rate determined by January - October 2011 sales figures) Example: 40 sales in 10 months divided by 10 months = 4 sales per month

Currently Active: The total number of homes for sale within a defined market segment. (as of November 22, 2011)

Months of Inventory: Number of active listings divided by the absorption rate

 

January – October 2011

Number of Months of New Construction Single Family Homes Inventory in Onslow County Based On The Absorption Rate

Absorption Rate

 

Number of Months of Re-Sale Single Family Homes Inventory in Onslow County Based On The Absorption Rate

Re-Sale Absorption Rate*As of  November 22, 2011

In Jacksonville NC, Onslow County, and the entire Camp Lejeune area, this local absorption rate market report is critical information for sellers and potential sellers in our market. With many of our sellers being military and executing permanent change of station orders that are with an established timeline, this market report can be an important factor in helping to determine where to position your home in the market to help enable those timelines to be met.

These rates are general figures based on an overall analysis of County wide sales numbers. They indicate a continuing downward trend of re-sale home sales in all price ranges as they struggle to compete with new construction in the area. However, this may or not be the case within certain segments of the County. If you would like a more detailed review of your specific area, please click Request Absorption Rate Market Report and I will be in touch with you to provide absorption rate information that pertains to your home.

 

 

Posted by

 Ken Brandon

 ABR, CDPE, CNE, CRS, e-PRO, GRI, SFR, SRS

Managing Broker

Coldwell Banker Sea Coast Advantage

2355 Western Boulevard Suite 300,  Jacksonville NC 28546

   Office: (910) 353-5100                       Email: KenBrandon@SeaCoastRealty.com  

 Serving Camp Lejeune, Jacksonville NC, And The Surrounding Area

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