Real Estate Market Report/Absorption Rates - MIMS/SCOTTSMOOR, FL (MLS Area 101) - Sept 20, 2008

MLS Area 101 - County Line Road to SR 46 - Mims/Scottsmoor - Sept. 20, 2008

113 active listings priced from $49,500 to $2,500,000
*6 short sales

16 properties are under contract ranging in price from $32,500 to $499,900.
*0 short sales are under contract

34 houses have closed since January 1, 2008
23 houses have closed in the past 6 months (used for Absorption Rate)
*2 short sales closed in past 6 months ($61,900 and $93,000)

The Absorption Rate Formula would indicate the market taking 29.5 months
to absorb the current inventory of homes in MLS Area 101. This is roughly
double the time it will take homes in Fawn Lake to sell. If the property is priced
for today's market, it's a great time to buy in MIMS, FL.

Here's a link to the separate Fawn Lake reports:
FAWN LAKE - Mims, Brevard County FL - Market Report Sept 18, 2008 (MLS Area 101)
FAWN LAKE - Mims, Brevard County FL - Market Report July 2008 (MLS area 101)
FAWN LAKE - Mims, Brevard County FL - Market Report May 2008 (MLS AREA 101)
FAWN LAKE - Mims, Brevard County FL - Market Report Feb 2008 (MLS area 101)

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