Charleston absorption rate by area November 2007
With a hat tip to Jonathan Dalton of Dalton's Arizona Homes for the idea, here is the absorption rate for the Charleston South Carolina real estate market by area for residential single family homes, condos and townhomes.
| Charleston MLS Area | Sold | Active | Absorption |
| The Beaches | 15 | 1022 | 68.13 |
| Downtown below Crosstown | 22 | 515 | 23.41 |
| Downtown above Crosstown | 11 | 138 | 12.55 |
| West Ashley | 64 | 868 | 13.56 |
| James Island | 28 | 565 | 20.18 |
| Johns Island | 18 | 315 | 18.53 |
| North Charleston (Charleston County) | 82 | 649 | 7.91 |
| Mount Pleasant | 101 | 1694 | 16.77 |
| North Charleston (Dorchester County) | 56 | 543 | 9.70 |
| Summerville | 104 | 1023 | 9.84 |
| Hanahan | 32 | 219 | 6.84 |
| Goose Creek including Jedburg | 129 | 834 | 6.47 |
| Moncks Corner | 9 | 157 | 17.44 |
| Daniel Island | 25 | 295 | 11.80 |
The absorption rate divides the active listings by the number of sales to indicate how long it would take for all inventory to be sold if no new inventory came on the market. An absorption rate higher than 4.0 indicates a buyers market so you can see we are very firmly locked into a very favorable buyers market.
I look forward to tracking and reporting the absorption rate by area for you during the next year including the increase or decrease from the previous month.