Charleston real estate market report, March 2008 inventory and absorption rate
Inventory is continuing to climb in the luxury segment but has stabilized at elevated levels for both single family homes as well as condos and townhomes.
Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.
The current inventory (inv) column reflects the number of active listings on the market on the 16th day of each month. The months of inventory (mo) column is equal to the current inventory divided by the monthly sales. This reflects how many months it would take to sell out of inventory at the current month's rate of sale. It can also be referred to as the absorption rate.
Monthly inventory and absorption rate, single family homes
| Month | Inv 06 | Mo 06 | Inv 07 | Mo 07 | Inv 08 | Mo 08 | 07 to 06 | 08 to 07 |
| under 600k | | | | | | | | |
| Jan | 2934 | 4.21 | 4643 | 7.24 | 4743 | 10.85 | 58.25% | 2.15% |
| Feb | 3158 | 4.01 | 4789 | 6.59 | 4891 | 10.47 | 51.65% | 2.13% |
| Mar | 3374 | 3.20 | 5026 | 5.47 | 4959 | 9.17 | 48.96% | -1.33% |
| Apr | 3648 | 4.23 | 5248 | 7.35 | | | 43.86% | |
| May | 3751 | 3.55 | 5419 | 6.24 | | | 44.47% | |
| June | 4001 | 3.34 | 5547 | 6.02 | | | 38.64% | |
| July | 4308 | 4.64 | 5516 | 7.17 | | | 28.04% | |
| Aug | 4524 | 4.85 | 5598 | 6.91 | | | 23.74% | |
| Sep | 4670 | 4.61 | 5516 | 8.28 | | | 18.12% | |
| Oct | 4808 | 6.45 | 5376 | 9.08 | | | 11.81% | |
| Nov | 4762 | 5.79 | 5236 | 8.38 | | | 9.95% | |
| Dec | 4605 | 5.74 | 4985 | 9.13 | | | 8.25% | |
| over 600k | | | | | | | | |
| Jan | 806 | 9.16 | 1410 | 21.69 | 1781 | 37.89 | 74.94% | 26.31% |
| Feb | 889 | 12.70 | 1537 | 30.74 | 1882 | 47.05 | 72.89% | 22.45% |
| Mar | 983 | 8.06 | 1653 | 17.22 | 1961 | 42.63 | 68.16% | 18.63% |
| Apr | 1070 | 10.49 | 1750 | 22.73 | | | 63.55% | |
| May | 1186 | 8.98 | 1849 | 20.32 | | | 55.90% | |
| June | 1275 | 10.28 | 1861 | 17.72 | | | 45.96% | |
| July | 1368 | 13.68 | 1862 | 24.50 | | | 36.11% | |
| Aug | 1419 | 12.78 | 1832 | 18.14 | | | 29.11% | |
| Sep | 1416 | 16.09 | 1825 | 35.10 | | | 28.88% | |
| Oct | 1437 | 15.45 | 1865 | 41.44 | | | 29.78% | |
| Nov | 1446 | 21.58 | 1819 | 37.90 | | | 25.80% | |
| Dec | 1410 | 22.03 | 1788 | 37.25 | | | 26.81% | |
Monthly inventory and absorption rate, condos and townhomes
| Month | Inv 06 | Mo 06 | Inv 07 | Mo 07 | Inv 08 | Mo 08 | 07 to 06 | 08 to 07 |
| under 600k | | | | | | | | |
| Jan | 1074 | 3.53 | 2334 | 15.99 | 2310 | 26.55 | 117.32% | -1.03% |
| Feb | 1537 | 6.08 | 2439 | 15.34 | 2384 | 18.48 | 58.69% | -2.26% |
| Mar | 1619 | 4.60 | 2533 | 10.92 | 2381 | 15.46 | 56.45% | -6.00% |
| Apr | 1561 | 3.78 | 2661 | 11.13 | | | 70.47% | |
| May | 1836 | 4.88 | 2725 | 8.85 | | | 48.42% | |
| June | 1933 | 6.30 | 2677 | 9.17 | | | 38.49% | |
| July | 2130 | 6.38 | 2617 | 10.34 | | | 22.86% | |
| Aug | 2154 | 7.25 | 2605 | 12.52 | | | 20.94% | |
| Sep | 2237 | 8.13 | 2629 | 14.13 | | | 17.52% | |
| Oct | 2441 | 9.88 | 2563 | 12.44 | | | 5.00% | |
| Nov | 2419 | 12.03 | 2495 | 14.26 | | | 3.14% | |
| Dec | 2343 | 10.06 | 2391 | 18.98 | | | 2.05% | |
| over 600k | | | | | | | | |
| Jan | 148 | 5.48 | 339 | 30.82 | 462 | 33.00 | 129.05% | 36.28% |
| Feb | 163 | 7.09 | 369 | 46.13 | 473 | 31.53 | 126.38% | 28.18% |
| Mar | 190 | 8.26 | 414 | 23.00 | 466 | 35.86 | 117.89% | 12.56% |
| Apr | 222 | 10.09 | 417 | 37.91 | | | 87.84% | |
| May | 235 | 8.39 | 431 | 39.18 | | | 83.40% | |
| June | 281 | 12.77 | 446 | 29.73 | | | 58.72% | |
| July | 304 | 27.64 | 464 | 22.10 | | | 52.63% | |
| Aug | 322 | 20.13 | 477 | 34.07 | | | 48.14% | |
| Sep | 346 | 38.44 | 482 | 16.62 | | | 39.31% | |
| Oct | 365 | 17.38 | 476 | 22.67 | | | 30.41% | |
| Nov | 364 | 45.50 | 501 | 45.55 | | | 37.64% | |
| Dec | 361 | 30.08 | 474 | 43.09 | | | 31.30% | |