Dothan Real Estate Market - June Inventory Report
June 25th, 2008 - Categories: Dothan area Real Estate Market information, Inside the numbers
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
Inventory is still inching upward. We are up to 975 homes on the market as of the first of June (the number is down a bit today). There has never been a time in the Dothan area where buyers have had more to choose from than they do right now.
Inventory
The number of homes for sale in the Dothan area is knocking on 1000. A good neutral market would be around 600. We got as low as 450 in 2005. It is amazing to see how this market has turned in under three years. I don’t expect us to hit the 1000 homes mark, but it could happen. As I posted last week, sales have remained steady, so inventory should do the same.
Absorption rate
The absorption rate for June is down again to 8.97 months, which is the lowest since last summer. For those of you just joining us, this means that there is about a nine month supply of homes on the market, based on current inventory and sales figures from the past three months. The trend is definitely downward, and that is a good sign that the Dothan real estate market is healthy.
Inventory and absorption rates can vary between different areas around Dothan. If you would like to see these numbers for a particular area, drop us an email or leave a comment below with your request!
Possibly Related Posts
- Dothan Real Estate Market - February Inventory Report
- Dothan Real Estate Market Report - June New Construction
- Dothan Real Estate Market - March Inventory Report
This entry was posted on Wednesday, June 25th, 2008 at 5:49 am and is filed under Dothan area Real Estate Market information, Inside the numbers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
It is a great market for buyers, and a difficult market for sellers to understand. I think that many sellers got very comfortable with calling the shots and having a line of buyers waiting to buy, but we are not in that market anymore. In today’s market, price sells …period.