How long will it take REAL ESTATE IN TITUSVILLE FL to sell - 3/11/10

Market Report Titusville FL March 11, 2010 - With Absorption Rate

This is a short report which covers all of Titusville - MLS areas 102, 103 and 104 starting near
HWY 46 to Kings HWY on the south end.

I do specific reports on each of the MLS areas separately as the dynamics are different for each MLS area.

There are currently 643 active listings in Titusville
There are currently 130 properties under contract
There have been 293 closings in the past 6 months

There are a few less listings than the last report and fewer properties are under contract. Number of closings in the past 6 months has improved by 33 - good!

ABSORPTION RATE

Simply stated it will take 13.17 months to absorb the inventory of properties for sale at the current levels. This is a nice improvement over the past 2-3 reports. We're not out of the woods but definitely moving in the right direction. This is positive news.

The formula is simple: # of sales in 6 months divided by 6 = absorption rate.
# of listings divided by absorption rate = number of months to absorb.

There are 6,750 single family residences currently listed in Brevard MLS compared to 6909 in the June/09 report. The inventory is still decreasing and that's the best news we could have :-)

4,889 single family houses
1,478 condos
383 townhouses

Here are links to previous Market Reports for Titusville:
How long will it take REAL ESTATE IN TITUSVILLE FL to sell - 6/4/09
How long will it take REAL ESTATE IN TITUSVILLE FL to sell - 4/6/09
How Long Will It Take REAL ESTATE IN TITUSVILLE FL To Sell - 11/6/08
How long will it take REAL ESTATE IN TITUSVILLE FL to sell - 9/6/08
How long will it take REAL ESTATE IN TITUSVILLE FL to sell - 7/29/08



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Titusville, Florida
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