Dothan Real Estate - March Inventory Report

This article was originally posted on DothanHomeSearch.com

The number of homes for sale in the Dothan area continues to rise, moving up almost 5% in the last 30 days and up over 8.5% since the first of the year. Across the nation however, inventory levels are dropping. Dothan has always lagged behind the national trends, so this isn’t totally unexpected. Although, such a sharp rise in a short amount of time is a little worrisome.

Absorption rate

Even though the number of homes for sale in Dothan has increased, pending sales are still relatively stable, which means the absorption rate, or the number of months it would take to clear the market if no more houses were listed, has moved down by a couple of months. There is currently 15.92 months of inventory on the market here in Dothan.

Here are inventory and absorption rate numbers for several areas around the Wiregrass.

	Sold	Active	Absorption
Area	February	3/15/2008	Rate (months)
Dothan (northwest) - Midland City	19	181	13.9
Dothan - Southwest	21	333	16.9
Dothan - Northeast	4	42	14
Dothan - Southeast	14	120	14.4
Headland	3	46	27.5
Rehobeth - Taylor	2	75	22.5
Wicksburg - Pinckard - Newton	2	28	12
Slocomb - Hartford - Geneva County	3	36	27.1
Abbeville - Newville	0	28	84.9
Ashford - Cottonwood - Gordon	2	56	28
Columbia - Webb - Kinsey	1	29	12.4

Keep in mind that the absorption rate is based on a three-month average of sales.