Dothan Real Estate Market - August Inventory Report
August 26th, 2008 - Categories: Dothan area Real Estate Market information, Inside the numbers
By: Charles Woodall
http://www.dothanhomesearch.com
A decrease in the number of homes on the market is a pivotal first step to real estate market recovery. Yes, I have said that the Dothan real estate market is not really in need of recovery, but having fewer homes on the market will greatly help balance the market, and in turn likely create more sales.
The number of homes for sale in the Dothan area is down to around 934 from 985 at the end of July. Will the downward trend continue? It is likely it will, if for no other reason than we are finishing up the busy season for home sales. To what level inventory will fall remains to be seen.
Absorption rate
The absorption rate for August is down again to 7.72 months of inventory. Comparing this summers numbers to the summer of 2007, the rates are a little higher this year. However, inventory was below 900 at that time, so the variance is understandable.
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!
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