Charleston real estate market report, June 08 inventory and absorption rates
Inventory in the Charleston real estate market seems to be increasing a bit from already high levels after showing some improvement earlier in the year. I personally wouldn't put my home on the market at this time unless either I had to move or really wanted to move. Until inventory levels drop and unit sales start to increase, the market so heavily favors buyers that sellers generally will not get the price for their home they might be hoping for.
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.
