Charleston real estate market report, July 2008, inventory and absorption rate
Inventory and absorption rates in the Charleston real estate market continue to be elevated. Of interest is how the luxury condo / townhome absorption rate has escalated due to very high sales occurring earlier this spring and very few sales in the past few months. All other classifications seem to be holding steady, albeit at high levels.
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.
