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 18% over the same time period (Jan - Mar) of last year.
This downward trend is a continuation from 2011 and one 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 - March 2012 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 – March 2012
Number of Months of New Construction Single Family Homes Inventory in Onslow County Based On The Absorption Rate
Number of Months of Re-Sale Single Family Homes Inventory in Onslow County Based On The Absorption Rate
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.