Better news, as the Fall has presented better than average numbers during the recession. Our Absorption numbers are almost 6 months ahead of our year-to-date from last year. Sales are starting to match back in 2007 as we just surpassed transaction numbers from 2008. The average sales price is till much lower, but this is mainly because luxury homes are still struggling, comparatively speaking.
Taking a look at the numbers: Comparing our current Absorption numbers to 2008, are sales are tracking slightly ahead, while Absorption Rates stay slightly behind (2008, 29.63 & 2011, 30.75 for Residential properties). Comparing these numbers to our current high of 47.47 in July of last year, we have made tremendous strides.
All this being said, here is a quick note I sent to an agent asking about buyers:
"Cash is King, so listing agents have to encourage/inform their clients about the benefits about working with cash buyers. Buyer's agents have to love this, it maybe a guaranteed deal. At the same time, cash buyers are usually looking for that great deal, which means they may negotiate between multiple houses before they find the property they really want at a price they want."
***Attached is a copy of the most recent Market Update (Market Absorption Rate 2011-12-05). If you cannot view the update or you have questions, please don't hesitate to call or email me at anytime.
Marc White
Marketing Specialist, ABR, ePro, GREEN, GRI, zPro
Broker/REALTOR, Cash Realty & Construction
Top Listing Agent 2009, 2010
Cell/Direct 828-406-2134
Search 1,000s of Homes Instantly at www.MarcWhiteHomes.com
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