Charleston real estate report, Inventory and Absorption rate, May 2008
Inventory remains at high levels and is increasing once again across all housing classifications. Until inventory is reduced, there will be significant pressure on prices and buyers will continue to have a wide choice of properties to choose from.
Please note that there were a lot of late data entries of sales of luxury condos which you'll see on the unit sales report. While not reflected below, the absorption rate actually went down significantly during Feb, Mar and April to 17.5, 10.6 and 15.6 months respectively but it's right back up to a 30 month supply once again.
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.
