April 6, 2008
Well, I felt real confident wih the info I posted on Friday because the numbers that I ran on Monday really couldn't have changed that much, could they?
Each month I run the absortion rate at the beginning of the month based upon last month's activity. The absorption rate is a great barometer of the health of the market and it is actually very easy to determine. Basically you take the number of listing and divide it by the number of consumated sales within the proceeding month. The dividend then is the number of months worth of inventory that we have given market conditions.
So what is our absorption rate? We now have 1227 homes for sale (The Inventory, which is up considerably from my last post) and last month we had 97 closed transactions among the thirty three offices that comprise the Valdosta Board of Realtors Multiple Lisitng System. That gives us an absorption value of 12.6 months.
To lend some context to this figure consider this; two years ago the absorption rate was clocking in between four to five months consistently. What this means to the consumer is more competition and longer marketing time.
Given this scenario and market climate, it has never been more important for realtors and their clients/sellers to price property right from the very beginning...
All you want to know about South Georgia as an emerging and progressive area to live, play, conduct business and invest in real estate.
I've been actively involved in our region's real estate market since 1991 when I worked with other family members to develop the first gated golf community (Stone Creek) in our area. Over the course of fifteen years I have conducted over 1000 transactions. In 2002 I opened a small independent brokerage firm that stayed consistently busy over the past five years.
Toward the end of 2007, I got the opportunity to acquire Century 21 Winnersville. The Winnersville office first opened in 1980 and has been a powerhouse for over twenty five years in South Central Georgia. We currently have eighteen agents and are ever expanding as we recruit yet more team members who will contribute to our team's model.
We enjoy a company culture that values integrity, learning, and innovation in our daily real estate business. We have grasped the idea that our industry is on the cusp of a dramatic shift in terms of marketing and the way consumers buy and sell real estate. We live in a different world now that we did even within six months ago and or team is committed to embracing change rather than resisting it.
Though I am not as actively involved in listing and selling as I once was (I am concentrating on management, leadership and teaching these days) the bulk of my personal experience has been in lot sales, new construction, custom built construction and upper end (That's $250k+ in our area) homes.
Our team has much experience in all facets of real estate; corporate relocation, military relocation, residential leases, development, investment and adjoining counties. In fact, our team individuals are encouraged to develop an interest in and persue niches within our market.
To learn more about our team and the various services we offer, visit our company website at www.century21winnersville.com
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