Selling A Jacksonville NC Home: Camp Lejeune Jacksonville NC Real Estate Market Report (Absorption Rates) January - December 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, particularly if you are Selling a Jacksonville NC Home

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 current local market place.

In the Jacksonville area, new construction homes continue to maintain their sales numbers while re-sale home sales numbers are down 31% over the same time period (Jan - Dec) 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. These terms are important items to know when selling a Jacksonville NC Home.

Absorption Rate: The rate at which homes will sell withing a given period of time, or unit sales per month. (rate determined by January - December 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 January 15, 2012)

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

January – December 2011

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

 2011 New Construction Absorption Rates

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

 2011 Re-Sale Homes Absorption Rates

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 selling a Jacksonville NC Home 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.

To view information you should know BEFORE deciding on an agent to help you market and sell your home, watch this short information packed video by clicking Selling A Jacksonville NC 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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Comments (4)

Chandler Real Estate Liz Harris, MBA
Liz Harris Realty - Chandler, AZ
#ChandlerRealEstateAgent

Good market update... thanks for sharing and good luck to you!

Jan 15, 2012 03:47 PM
Not a real person
San Diego, CA

Our new construction almost completely disappeared in the Great Recession and really hasn't started to make a comeback yet. Part of the problem with new construction here is that there are so many third parties stirring the pot. I saw a report a few months ago that said that all of the various environmental reports and such added $100,000 to the cost of a home. No wonder high-rise condominium construction boomed in the 2000s. That's about the only way to spread $100,000 around.

Jan 16, 2012 11:17 PM
Linda Holloway
Keller Williams Realty Tampa Central - Tampa, FL
REALTOR®, Your Next Home in Tampa Bay Starts Here!

Hi Ken, This is an excellent market report and explanation of absorption rates.  You provide great information for both buyers and sellers!

Jan 17, 2012 02:17 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Ken, Sellers  should realize that they are competing with new construction and should price their homes competitively. Buyers take into consideration the amount they may need for necessary repairs and replacement when they buy resale.

Jan 21, 2012 01:23 AM