What is the Present Absorption Rate in Haywood County, NC?
April 15th, 2008 Categories: Haywood County Market Reports
Homes sold in Haywood County, NC from January 1 through April 15, 2008, according to our MLS this morning, total 151, with an average of 160 days on market. Here are additional statistics to illustrate what these numbers mean in our market.
Absorption Rate.
Selling approximately 43.14 homes per month since January 1, 2008, with 1047 active listings this morning, equates to a 24.27 month absorption rate; or, based on the number of homes that have been sold so far this year, it will take us approximately 24 months to absorb (sell) the present inventory of homes on the market.
Homes in Escrow.
Homes that have gone into Escrow so far this month total 14 according to the MLS, with the following statistics:
Homes Sold (01/01-04/15/2008).
According to our MLS, the statistics for the 151 homes sold to date are:
Active Listings.
Statistics for the 1,047 homes in Active Listings on the market this morning according to our MLS are as follows:
Expired Listings.
Expired listings this morning for the month of April total 32. More than twice the number of homes (32) are expiring than going into escrow (14) at the present time.
Snow flurries!
Yesterday afternoon (April 14th) we had snow flurries in Maggie Valley! The temperatures were a bit too warm (38 degrees where I was) for the snow to stick, so my snow picture leaves much to the imagination.
See First Quarter 2008 Statistics for Haywood County, NC
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See Haywood County, NC Real Estate Market Archive.
Search the Haywood County, NC MLS.
I wrote an absorption rate post about a specific community that ended up getting featured in the local paper. I also added up holding costs for that time period of holding the property (4 years). The dookie hit the fan. Reality hurt and the natives turned on me. In the last 5 days there have been 11 price reductions. Ok, so they were ticked and then the must have done the math. They always kill the messenger.