Absorption
Above you’ll find a history of Wilmington’s real estate absorption rate (click here for definition). The absorption rate for the first quarter of this year has been around 30%. This means three homes come on the market for each home sold. If you’re thinking about buying, it’s a great time! If you’re thinking about selling, please call us at 910-442-2030 so we can discuss pricing and marketing strategies for this market.
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Great! Thanks!
Comment by waltdowdy — December 19, 2007 #
The absorption rate for October 07 was 38% and Oct 06 was around 56%. So that means that we are really down in sales for 07 compared to Oct 06? When will you know the absorption rates for Nov and Dec. so we can see if there were steady sales over the holidays? Thanks.
Comment by Donna Grady — January 3, 2008 #
Hi Donna - most recent numbers show October 2007 as 40%, November 2007 as 54% and December 2007 as 43%. This would mean December this year is not only is considerably lower than previous years but also breaks the long-standing trend of a through-the-roof absorption rate in the last month of the year (due to consistent closings happening from contract earlier in the yera coupled with less homes listed during the holidays). However today is just Jan 3rd, so I expect December’s final numbers to look different when I pull them later this month since Realtors often lag entering data into the MLS :)
Comment by FCL — January 3, 2008 #